{"id":9559,"date":"2018-06-30T10:10:03","date_gmt":"2018-06-30T17:10:03","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9559"},"modified":"2018-06-30T07:29:34","modified_gmt":"2018-06-30T14:29:34","slug":"commercial-real-estate-sales-down-from-robust-2017-activity","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/06\/commercial-real-estate-sales-down-from-robust-2017-activity\/","title":{"rendered":"Commercial Real Estate Sales Down from Robust 2017 Activity"},"content":{"rendered":"<p style=\"text-align: justify;\">Commercial real estate sales in the Lower Mainland declined in the first quarter (Q1) of 2018 compared to the active market experienced in the region last year.<\/p>\n<p style=\"text-align: justify;\">There were 523 commercial real estate sales in the Lower Mainland in Q1 2018, a 10.8% decrease over the 586 sales in Q1 2017, 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;\">The total dollar value of commercial real estate sales in the Lower Mainland was $3.031 billion in Q1 2018, a 38.5% decrease from the $4.927 billion in Q1 2017.<\/p>\n<p style=\"text-align: justify;\">\u201cOur commercial market returned to more historically normal levels in the first quarter of the year compared to the heightened activity we experienced in 2017,\u201d Phil Moore, REBGV president said. \u201cThis shift to more typical activity is mirroring the overall economic trends we\u2019re seeing in our province today.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Q1 2018 Activity by Category<\/strong><\/p>\n<p style=\"text-align: justify;\">Land : There were 221 commercial land sales in Q1 2018, which is a 3.9% decrease from the 230 land sales in Q1 2017. The dollar value of land sales was $1.594 billion in Q1 2018, a 20.5% decrease from $2.005 billion in Q1 2017.<\/p>\n<p style=\"text-align: justify;\">Office and Retail : There were 173 office and retail sales in the Lower Mainland in Q1 2018, which is down 15.6% from the 205 sales in Q1 2017. The dollar value of office and retail sales was $1.076 billion in Q1 2018, a 51.8% decrease from $2.232 billion in Q1 2017.<\/p>\n<p style=\"text-align: justify;\">Industrial : There were 113 industrial land sales in the Lower Mainland in Q1 2018, which is down 7.4% from the 122 sales in Q1 2017. The dollar value of industrial sales was $0.280 billion in Q1 2018, a 12.2% increase over $0.250 billion in Q1 2017.<\/p>\n<p style=\"text-align: justify;\">Multi-Family : There were 16 multi-family land sales in the Lower Mainland in Q1 2018, which is down 44.8% over the 29 sales in Q1 2017. The dollar value of multi-family sales was $0.081 billion in Q1 2018, an 81.5% decrease from $0.441 billion in Q1 2017.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=9560\" rel=\"attachment wp-att-9560\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-9560\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/06\/commercial-1-288x207.jpg\" alt=\"\" width=\"570\" height=\"410\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/06\/commercial-1-288x207.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/06\/commercial-1-768x553.jpg 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/06\/commercial-1.jpg 916w\" sizes=\"auto, (max-width: 570px) 100vw, 570px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.rebgv.org\/sites\/default\/files\/Q1-2018-Commercial-Stats-Package.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full stats package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial real estate sales in the Lower Mainland declined in the first quarter (Q1) of 2018 compared to the active market experienced in the region last year. There were 523 &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/06\/commercial-real-estate-sales-down-from-robust-2017-activity\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-9559","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 from Robust 2017 Activity &#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\/06\/commercial-real-estate-sales-down-from-robust-2017-activity\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Commercial Real Estate Sales Down from Robust 2017 Activity &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Commercial real estate sales in the Lower Mainland declined in the first quarter (Q1) of 2018 compared to the active market experienced in the region last year. 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