Commercial real estate sales dip below 2016 record high

August 23, 2017 12:09 pm

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Commercial real estate sales in the second quarter of 2017 have decreased 32 per cent, returning to more traditional values following a record-setting 2016.

There were 595 commercial sales across the Lower Mainland this quarter versus 875 sales in the second quarter of 2016, according to Commercial Edge, the real estate data system operated by the Real Estate Board of Greater Vancouver (REBGV).

Total dollar volume has also decreased 37.5 per cent, from $4.6 billion in Q2 2016 to $2.8 billion in Q2 2017.

Sales have decreased year-over-year in every commercial sector.

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