Northshore — Rental Market Data

Northshore at 500 Plains Rd E closed two leases in the trailing 30 days at an average 40 days on market, compared to a 61-day average over the prior 90 days and a submarket benchmark of 37 days. The 90-day window captured five closings, while the full lifetime record stands at 13 signed leases since the property entered initial occupancy in late 2025. Leasing cadence is still building: the 30-day DOM of 40 days sits 14 days above the Aldershot submarket norm, reflecting a new-build pipeline that has not yet reached full absorption velocity.

Northshore tenants negotiated an average discount of $58 per month (2.52% below asking) across tracked leases, translating to $696 in annual savings per unit. Sixty-nine point two percent of all 13 closed leases settled under the listed asking price, confirming consistent tenant leverage in this initial-occupancy window. Landlords at Northshore are conceding on price rather than holding firm, a pattern typical of a 152-suite National Homes project still working through its first wave of move-ins.

The two highest-volume anchor layouts at Northshore are the 1-Bedroom + Den (6 leases, average $2,208 per month, 66-day DOM) and the standard 1-Bedroom (5 leases, average $2,079 per month, 46-day DOM). The 1-Bedroom + Den tier averages 604 square feet at $3.67 per square foot, with a median rent of $2,200 and a P25-to-P75 band of $2,200 to $2,238. The 1-Bedroom tier averages 540 square feet at $3.94 per square foot, with a median of $2,095 and a P25-to-P75 band of $2,000 to $2,100. Both tiers qualify as moderate samples and serve as reliable statistical benchmarks. The 2-Bedroom layout recorded one individual transaction at $2,600 per month for 850 square feet ($3.06 per square foot, 77-day DOM); this is a single deal, not a broad benchmark. The 2-Bedroom + Den also closed one individual transaction at $2,600 per month for 750 square feet ($3.47 per square foot, 2-day DOM), likewise a single transaction rather than a statistical norm.

Northshore parking premium data is inconclusive due to insufficient paired lease records that bundle a parking spot with a suite. No verified monthly parking differential can be isolated from the 13 closed leases, and active-listing parking figures are flagged as unreliable outliers. Tenants should confirm whether a parking allocation is included in the quoted rent or billed separately before signing, as the platform cannot validate a consistent premium or discount at this stage.

Northshore rents trended modestly downward from spring into late summer 2026, with the average monthly rent falling from $2,333 in April to $2,098 by August. April closed three leases at $2,333 per month ($3.46 per square foot, 53-day DOM). May saw the heaviest volume with five closings at $2,260 per month ($3.71 per square foot, 48-day DOM). June recorded two leases at a lower nominal $2,075 per month but a higher $4.45 per square foot, a spread driven by compact suite footprints rather than property devaluation. July's single lease closed at $2,200 per month ($3.38 per square foot, 86-day DOM), reflecting a larger unit that sat on market longer. August's two closings landed at $2,098 per month ($3.52 per square foot, 40-day DOM), the fastest absorption of the five-month window.