{"id":8525,"date":"2018-03-19T15:15:39","date_gmt":"2018-03-19T22:15:39","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8525"},"modified":"2018-03-15T09:53:09","modified_gmt":"2018-03-15T16:53:09","slug":"commercial-real-estate-sales-down-values-up","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/03\/commercial-real-estate-sales-down-values-up\/","title":{"rendered":"Commercial Real Estate Sales Down Values Up"},"content":{"rendered":"<p style=\"text-align: justify;\">Commercial real estate sales activity in the Lower Mainland declined from the record highs of one year ago and remained above the region\u2019s long-term historical sales average in 2017.<\/p>\n<p style=\"text-align: justify;\">There were 2,591 commercial real estate sales in the Lower Mainland in 2017, a 10.4% decrease from the record 2,891 sales in 2016, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).<\/p>\n<p style=\"text-align: justify;\">Commercial real estate sales in 2017 were 11.1% above the region\u2019s five-year sales average.<\/p>\n<p style=\"text-align: justify;\">The total dollar value of commercial real estate sales in the Lower Mainland was $15.733 billion in 2017, a 14.5% increase from $13.746 billion in 2016.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile commercial sales declined from the record pace of 2016, the total dollar value of the activity continued to rise,\u201d said Jill Oudil, REBGV president. \u201cThe strong economic and employment growth in our province last year helped drive our commercial real estate market in 2017.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Activity by Category in 2017<\/strong><\/p>\n<p style=\"text-align: justify;\">Land : There were 1,061 commercial land sales in 2017, which is an 11.3% decrease from the 1,196 land sales in 2016. The dollar value of land sales was $8.708 billion in 2017, a 15.5% increase from $7.537 billion in 2016.<\/p>\n<p style=\"text-align: justify;\">Office and Retail : There were 888 office and retail sales in the Lower Mainland in 2017, which is down 3.8% from the 923 sales in 2016. The dollar value of office and retail sales was $4.464 billion in 2017, a 15% increase from $3.883 billion in 2016.<\/p>\n<p style=\"text-align: justify;\">Industrial : There were 527 industrial land sales in the Lower Mainland in 2017, which is down 15.8% from the 626 sales in 2016. The dollar value of industrial sales was $1.238 billion in 2017, a 3% increase from $1.202 billion in 2016.<\/p>\n<p style=\"text-align: justify;\">Multi-Family : There were 115 multi-family land sales in the Lower Mainland in 2017, which is down 21.2% over the 146 sales in 2016. The dollar value of multi-family sales was $1.324 billion in 2017, a 17.8% increase from $1.124 billion in 2016.<\/p>\n<p><a href=\"https:\/\/www.rebgv.org\/sites\/default\/files\/Q4-2017-Commercial-Stats-Package.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial real estate sales activity in the Lower Mainland declined from the record highs of one year ago and remained above the region\u2019s long-term historical sales average in 2017. There &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/03\/commercial-real-estate-sales-down-values-up\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-8525","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Real Estate Sales Down Values Up &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/03\/commercial-real-estate-sales-down-values-up\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Commercial Real Estate Sales Down Values Up &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Commercial real estate sales activity in the Lower Mainland declined from the record highs of one year ago and remained above the region\u2019s long-term historical sales average in 2017. 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