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Major drop in commercial sales but not for lack of demand!

Greater Vancouver has seen a major drop in commercial sales over the last year, but not for lack of demand, as the supply is seriously constrained compared to last year’s available inventory, according to a report released by REMAX Commercial. There were 875 sales during Q2 last year, but only 595 this year. Last year’s $4.62bln fell 37.5% in 2017, as commercial sales in Q2 only totalled $2.89bln. Land sales also decreased year-over-year in Q2, from $2.12bln in 2016 to $1.51bln this year – a 29% drop. The report noted that local investors are Greater Vancouver’s greatest market drivers, but that there’s also strong interest originating from south of the border, as well as Europe and Asia. The GVA is absorbing office space quickly - the vacancy rate for A-class offices is 6.7% -- and, in Q2, over 700,000 square feet of industrial space was absorbed, 50,000…

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There are 1874 properties for sale on the MLS in Vancouver and Burnaby
Price Type Area Description Provided By
Add to Cart $740000 Attached Simon Fraser Hills Location!!! Close to Lougheed … Park Georgia Realty Ltd.
Add to Cart $1499000 Detached Montecito Fantastic opportunity to build… Keller Williams Elite Realty
Add to Cart $3188000 Detached Montecito Stunning, 3 Level Quality Buil… RE/MAX Central
Add to Cart $1439900 Detached The Crest This 2.5 level home is located… Multiple Realty Ltd.
Add to Cart $1238000 Detached Central BN Original Owner since 1959! Cha… Oakwyn Realty Ltd.
Add to Cart $1438000 Detached Brentwood Park Great solid family home in the… Royal Pacific Rlty. (Kingsway)
Add to Cart $1998000 Detached Montecito Welcome to marvellous Montecit… Bel-Air Realty Group Ltd.
Add to Cart $1298000 Detached Montecito Proudly representing this mass… Sutton Centre Realty
Add to Cart $1748800 Detached Government Road **OPEN HOUSE SAT APR 21 2-4PM!… Coldwell Banker Love Realty
Add to Cart $1438000 Detached Oakdale House is on a quiet cul-de-sac… Sutton Group-West Coast Realty
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