While commercial real estate sales gradually slowed in the Greater Vancouver area throughout 2018, they dropped precipitiously in nearly all asset classes in Q1-2019.
One of the worst hit was Residential Land. The quarter saw only 75 transactions, down 55% from Q1-2018’s 167. And volume sales took an even steeper dive – down 75% from one year ago. While all communities were down significantly, the biggest drops were in Tri-Cities (89%), Vancouver (83%), Burnaby (82%) and North Vancouver (72%).
For detailed information about Residential Land sales in each of Greater Vancouver’s main communities, check out Klein Group’s in-depth, Residential Land Report, as well as our other Commercial Market Reports, at https://lnkd.in/gvX8pEc .