Commercial real estate sales in all asset classes slowed throughout the Greater Vancouver area during the first quarter of 2019.
In the case of Industrial and Commercial Land there were just 28 transactions, down 50% from Q1-2018’s 56 and down 60% from Q1-2017’s 70. At the same time, sales volume of was down 52% and 67% from Q1-2018 and Q1-2017 respectively. The quarter’s only increase was in Burnaby, where volume was up 8% on the same number of transactions as Q1-2018. Otherwise, Richmond, Surrey and Vancouver were down from one year ago, while New Westminster, North Vancouver, Tri-Cities and West Vancouver saw no sales.
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