2023 Q4

Greater Vancouver Land Sales Market Report

Klein | Reports | 2023 - Q4 Commercial Residential Land Market Report
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Sources: Real Estate Board of Greater Vancouver, Commercial Edge; Canadian Real Estate Association, MLS®; Altus Group; Statistics Canada; Landcor; RealNet.

Disclaimer: Data has been obtained from sources considered to be reliable. However, no representation or warranty, expressed or implied, is made as to the accuracy of any of the information, projections or conclusions contained  herein, and the same is submitted subject to errors and omissions, without any obligation to update or correct.

Highlights

How Land properties have responded to the market.

100
2023 Q4 Sales Transactions
$110B
2023 Q4 Sales Volume
440

Largest Market Share - City

2023 Q4

Greater Vancouver Overview

Total Sales & Transaction Volume
20192020202120222023
Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%
Burnaby18$ 364,258,94926%7$ 60,804,7508%21$ 318,048,00013%16$ 172,784,2499%9$ 124,773,30012%
Coquitlam50$ 200,561,37714%15$ 122,058,66915%44$ 597,321,62224%72$ 477,193,87424%25$ 217,147,37320%
New Westminster7$ 18,817,0091%3$ 5,611,0001%8$ 25,239,2321%9$ 51,131,5003%3$ 3,667,5000%
North Vancouver18$ 119,531,0009%10$ 74,197,0009%25$ 199,119,1778%12$ 45,581,5002%6$ 12,678,0001%
Port Coquitlam8$ 12,008,0101%8$ 11,516,0001%23$ 67,440,0003%11$ 56,722,7493%5$ 20,268,0002%
Port Moody5$ 39,970,0013%7$ 42,150,0005%2$ 11,175,0000%13$ 186,761,8689%6$ 20,290,0002%
Richmond16$ 76,701,7906%9$ 96,488,80812%25$ 424,419,86517%39$ 174,765,9929%21$ 81,559,5808%
Vancouver68$ 538,236,26039%49$ 369,143,75047%98$ 821,058,37133%100$ 833,248,57641%53$ 579,133,38755%
West Vancouver2$ 17,375,0001%1$ 6,000,0001%1$ 5,875,0000%2$ 29,367,9431%1$ 2,300,0000%
Grand Total192$ 1,387,459,396100%109$ 787,969,977100%247$ 2,469,696,267100%274$ 2,027,558,250100%129$ 1,061,817,140100%
2019
Burnaby18$ 364,258,94926%
Coquitlam50$ 200,561,37714%
New Westminster7$ 18,817,0091%
North Vancouver18$ 119,531,0009%
Port Coquitlam8$ 12,008,0101%
Port Moody5$ 39,970,0013%
Richmond16$ 76,701,7906%
Vancouver68$ 538,236,26039%
West Vancouver2$ 17,375,0001%
Grand Total192$ 1,387,459,396100%
2020
Burnaby7$ 60,804,7508%
Coquitlam15$ 122,058,66915%
New Westminster3$ 5,611,0001%
North Vancouver10$ 74,197,0009%
Port Coquitlam8$ 11,516,0001%
Port Moody7$ 42,150,0005%
Richmond9$ 96,488,80812%
Vancouver49$ 369,143,75047%
West Vancouver1$ 6,000,0001%
Grand Total109$ 787,969,977100%
2021
Burnaby21$ 318,048,00013%
Coquitlam44$ 597,321,62224%
New Westminster8$ 25,239,2321%
North Vancouver25$ 199,119,1778%
Port Coquitlam23$ 67,440,0003%
Port Moody2$ 11,175,0000%
Richmond25$ 424,419,86517%
Vancouver98$ 821,058,37133%
West Vancouver1$ 5,875,0000%
Grand Total247$ 2,469,696,267100%
2022
Burnaby16$ 172,784,2499%
Coquitlam72$ 477,193,87424%
New Westminster9$ 51,131,5003%
North Vancouver12$ 45,581,5002%
Port Coquitlam11$ 56,722,7493%
Port Moody13$ 186,761,8689%
Richmond39$ 174,765,9929%
Vancouver100$ 833,248,57641%
West Vancouver2$ 29,367,9431%
Grand Total274$ 2,027,558,250100%
2023
Burnaby9$ 124,773,30012%
Coquitlam25$ 217,147,37320%
New Westminster3$ 3,667,5000%
North Vancouver6$ 12,678,0001%
Port Coquitlam5$ 20,268,0002%
Port Moody6$ 20,290,0002%
Richmond21$ 81,559,5808%
Vancouver53$ 579,133,38755%
West Vancouver1$ 2,300,0000%
Grand Total129$ 1,061,817,140100%
$ Volume And Number Of Transactions
DateDollar VolumeSales
2019
Qtr129904885755
Qtr234785676052
Qtr327237082045
Qtr4468182959.340
2020
Qtr118615975029
Qtr2170317714.633
Qtr321105180824
Qtr4220440704.0523
2021
Qtr1101780775.9920
Qtr243689758166
Qtr3484672098.676
Qtr41446345811.0685
2022
Qtr1682403051100
Qtr2575950272.571
Qtr3989239142.6145
Qtr476619997483
2023
Qtr129876608026
Qtr253996412691
Qtr323273725042
Qtr444632478661
Land Market Share

2023 Q4

Burnaby Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
6861 Hastings Street$ 3,650,0000.18099999427795$ 20,165,746
5488 Smith Avenue$ 1,800,0000.16699999570847$ 10,778,443
2720 Boundary Road$ 1,600,0000.18500000238419$ 8,648,649
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201936425894918
Qtr1809350004
Qtr2223730006
Qtr3576120005
Qtr42033389493
202030047505
Qtr130047502
Qtr201
Qtr301
Qtr401
202186119200038
Qtr101
Qtr2272880006
Qtr3191880007
Qtr481471600024
202221726849821
Qtr18896849810
Qtr2733500006
Qtr3135000001
Qtr4414500004
2023128326600.0610
Qtr11084700004
Qtr27106600.062
Qtr357000001
Qtr470500003
Grand Total1574050797.0692
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr135843660.62917100.89650.14935843660.6291710.64733333333333
Qtr2000.2410.2527500.24883333333333
Qtr314568158.16857400.8980.11414568158.1685740.7412
Qtr43488927501.9740348892751.974
2020000000
Qtr10000.146500.1465
Qtr2000000
Qtr3000000
Qtr4000000
2021000000
Qtr1000000
Qtr2000.34599998593330.4410000046094300.4172499999404
Qtr3000.398000001907350.2439999977747600.26599999836513
Qtr401283333310.216499805450.63559998571873128333333.3729999342135
2022000000
Qtr1000.426000006496910.2903333281477300.3445999994874
Qtr2000.628250002861020.328500002622600.52833333611488
Qtr3000.55000001192093000.55000001192093
Qtr4000.390666673580810.1650000065565100.33425000682473
2023000000
Qtr1088614804.28499984741210.4766666715343888614801.4287499655038
Qtr2000.082999996840954000.082999996840954
Qtr3000.2339999973774000.2339999973774
Qtr40000.1776666641235400.17766666412354
Grand Total000000

2023 Q4

Coquitlam Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
606 & 616 Kemsley Avenue; 605 & 609 Westley Avenue; 639 Elmwood Street$ 15,233,7360.80699998140335-
573 - 605 Madore Avenue$ 7,372,4600.60000002384186-
702 - 704 Delestre Avenue$ 6,397,6900.51599997282028-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr14768655615
Qtr2740880008
Qtr35318982017
Qtr42559700010
202000
Qtr190450004
Qtr2234050004
Qtr3226000002
Qtr427393104.054
202100
Qtr123079999.994
Qtr2809804608
Qtr382909827.6613
Qtr4410351334.0119
202200
Qtr115041183922
Qtr299646576.510
Qtr312991552022
Qtr49721993818
202300
Qtr1124850006
Qtr2159006536.9710
Qtr3103569503
Qtr4352988866
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr102607197.48748450.49612.0332607197.487484512.529
Qtr208211647.97457140.13712.1568211647.974571412.293
Qtr302267584.31809111.7157.5812267584.31809119.296
Qtr4001.590.98202.572
2020000000
Qtr1000.3050.32700.632
Qtr201555209.95334370.73.8581555209.95334374.558
Qtr30000.2199999988079100.21999999880791
Qtr40001.978000000119201.9780000001192
2021000000
Qtr1000.3511.86202.213
Qtr2002.09099994599823.761999875307105.8529998213053
Qtr3010811393.92700000107294.408000104129310811398.3350001052022
Qtr40525000017.9500000923874.1470000334084525000022.097000125796
2022000000
Qtr1099313601.413999974727615.116000026464993136016.530000001192
Qtr209912275.752.5279999971397.78700004518039912275.7510.315000042319
Qtr32038495005.14000003784893.8930000513792203849509.0330000892282
Qtr40204022992.48000002652419.12100001424552040229911.60100004077
2023000000
Qtr1082400005.37399999797348240005.3739999979734
Qtr2027337898.671000391244910.370999731123273378919.042000122368
Qtr30001.457999989390401.4579999893904
Qtr4001.51999995112421.03100003302102.5509999841452
Grand Total000000

2023 Q4

New Westminster Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
No transactions in 2023-Q4---
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr144850002
Qtr200
Qtr341000001
Qtr410232009.34
202000
Qtr111860001
Qtr223500001
Qtr300
Qtr420750001
202100
Qtr170450002
Qtr284340006
Qtr3139772323
Qtr400
202200
Qtr1393525006
Qtr200
Qtr300
Qtr400
202300
Qtr100
Qtr212150001
Qtr38700001
Qtr400
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr1012505839.41605800.33712505839.4160580.337
Qtr2000000
Qtr32050000000.20205000000.2
Qtr417765957.4468096721859.34253180.3291.2799482883.8686011.608
2020000000
Qtr10593000000.259300000.2
Qtr2000.10300000011921000.10300000011921
Qtr3000000
Qtr40000.500.5
2021000000
Qtr1000.1720.13800.31
Qtr20000.2759999965429300.27599999654293
Qtr30001.284000024199501.2840000241995
Qtr4000000
2022000000
Qtr1000.799000024795531.895000010728802.6940000355244
Qtr2000000
Qtr3000000
Qtr4000000
2023000000
Qtr1000000
Qtr2000000
Qtr30000.1270000040531200.12700000405312
Qtr4000000
Grand Total000000

2023 Q4

North Vancouver Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
1249 Frederick Road$ 1,655,0000.14499999582767$ 11,413,793
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1166450004
Qtr2329360007
Qtr3668500005
Qtr431000002
202000
Qtr1100700003
Qtr257520002
Qtr329250001
Qtr4379500003
202100
Qtr1108900002
Qtr2750868888
Qtr336747038.948
Qtr4763952507
202200
Qtr181100003
Qtr2202000004
Qtr3111465003
Qtr461250002
202300
Qtr129000001
Qtr238130002
Qtr343100002
Qtr416550001
Grand Total433606676.9470
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr123629856.85071618831586.1461640.4890.26820031153.8223020.757
Qtr223582474.22680414553519.6687370.3881.37216058345.4284151.76
Qtr3016854293.28147503.97416854293.2814753.974
Qtr4015760869.56521700.13815760869.5652170.138
2020000000
Qtr10000.59200.592
Qtr20000.38700.387
Qtr30000.1379999965429300.13799999654293
Qtr4000.969999998807910.1560000032186501.1260000020266
2021000000
Qtr1000.3970.09200.489
Qtr20183564861.29200001060962.2580000013113183564863.5500000119209
Qtr3000.523000001907351.383999988436701.906999990344
Qtr40166641930.360000014305113.5510000437498166641933.9110000580549
2022000000
Qtr10000.4039999917149500.40399999171495
Qtr2000.275999993085860.8360000103712101.1120000034571
Qtr30000.2950000017881400.29500000178814
Qtr4000.18899999558926000.18899999558926
2023000000
Qtr10000.2099999934434900.20999999344349
Qtr20000.2520000040531200.25200000405312
Qtr3000000
Qtr4000000
Grand Total000000

2023 Q4

Port Coquitlam Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
3448 & 3450 Sefton Street$ 2,610,0000.28000000119209-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr142500103
Qtr261980003
Qtr37600001
Qtr48000001
202000
Qtr115910002
Qtr244200002
Qtr300
Qtr455050004
202100
Qtr1322180008
Qtr2225500009
Qtr390020004
Qtr436700002
202200
Qtr1296649997
Qtr220800001
Qtr389500002
Qtr4160277501
202300
Qtr100
Qtr2131400002
Qtr345180002
Qtr426100001
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr10000.62700.627
Qtr20000.87600.876
Qtr30000.11400.114
Qtr40000.18500.185
2020000000
Qtr10000.29100.291
Qtr20000.47100.471
Qtr3000000
Qtr40000.9649999886751200.96499998867512
2021000000
Qtr1002.3661.26903.635
Qtr2000.388000011444092.096999995410402.4850000068545
Qtr3000.17100000381470.8460000157356301.0170000195503
Qtr4000.17100000381470.19599999487400.3669999986887
2022000000
Qtr1001.62099997699260.5389999896287902.1599999666214
Qtr2000.1710000038147000.1710000038147
Qtr3000.398999989032750.1850000023841900.58399999141693
Qtr401145657601.3990000486374114565761.3990000486374
2023000000
Qtr1000000
Qtr204144366.20.190999999642372.83999991416934144366.23.0309999138117
Qtr3000.0839999988675120.3009999990463300.38499999791384
Qtr4000000
Grand Total000000

2023 Q4

Port Moody Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
2201 Clarke Street & 84 Douglas Street$ 2,410,0000.20000000298023-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr111
Qtr2343500002
Qtr314200001
Qtr442000001
202000
Qtr152000002
Qtr200
Qtr3213500003
Qtr400
202100
Qtr100
Qtr2111750002
Qtr300
Qtr418000001
202200
Qtr101
Qtr2437903687
Qtr31374745004
Qtr454970002
202300
Qtr156000001
Qtr278000002
Qtr344800002
Qtr424100001
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr10000.200.2
Qtr214217598.61291702.3070.21514217598.6129172.522
Qtr30000.20900.209
Qtr40000.600.6
2020000000
Qtr1000.633000.633
Qtr2000000
Qtr3001.17499998211860.4120000004768401.5869999825954
Qtr4000000
2021000000
Qtr1000000
Qtr20001.11801.118
Qtr3000000
Qtr4000.21500000357628000.21500000357628
2022000000
Qtr1000000
Qtr20109950250.923999994993212.2890000194311109950253.2130000144243
Qtr312855695.614887010.364000335336012855695.61488710.364000335336
Qtr4000.42300000786781000.42300000786781
2023000000
Qtr1000.40000000596046000.40000000596046
Qtr20000.5990000069141400.59900000691414
Qtr30000.4060000032186500.40600000321865
Qtr40000.2000000029802300.20000000298023
Grand Total000000

2023 Q4

Richmond Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
3411 Chatham Street, 11960 & 11980 4th Avenue$ 4,900,0000.3289999961853-
8200 No. 3 Road$ 3,280,0000.29699999094009-
9620 Alberta Street$ 2,850,0000.35299998521805-
23111 Westminster Highway$ 2,825,0000.5-
4340 Smith Crescent$ 2,093,0000.20700000226498-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1230437908
Qtr2215080005
Qtr335000001
Qtr4286500002
202000
Qtr1663000003
Qtr212100001
Qtr3182408082
Qtr434000001
202100
Qtr1335500003
Qtr27155600010
Qtr3576400006
Qtr43012738658
202200
Qtr18549518618
Qtr25387353012
Qtr3267992767
Qtr422800001
202300
Qtr165185803
Qtr2303550007
Qtr3236980003
Qtr4209880008
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr1000.2932.41502.708
Qtr210184887.45980701.2441.25710184887.4598072.501
Qtr30000.2300.23
Qtr416881028.93890701.2440.54416881028.9389071.788
2020000000
Qtr117462165.30849803.7290.417462165.3084984.129
Qtr20000.2200.22
Qtr30000.9869999885559100.98699998855591
Qtr40000.3650000095367400.36500000953674
2021000000
Qtr1001.9231.7803.703
Qtr2004.01100003719331.963000014424305.9740000516176
Qtr306478455.51.07799997925764.94499993324286478455.56.0229999125004
Qtr40028.600000381471.7199999988079030.320000380278
2022000000
Qtr1049054611.58.9529999494553490546110.452999949455
Qtr201743198704.477000027895174319874.477000027895
Qtr30002.234000027179702.2340000271797
Qtr40000.2460000067949300.24600000679493
2023000000
Qtr10000.6580000072717700.65800000727177
Qtr2001.4100000262261.15699999034402.5670000165701
Qtr31039791601.75500005483630.18500000238419103979161.9400000572205
Qtr40002.006999969482402.0069999694824
Grand Total000000

2023 Q4

Vancouver Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
1527 Main Street$ 80,000,0001.1599999666214-
1770 West 12th Avenue$ 41,104,5001.057000041008-
728 - 796 Main Street$ 20,000,0000.29499998688698-
523 - 549 East 10th Avenue$ 17,500,0000.46200001239777-
927 Main Street$ 13,200,0000.17599999904633-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr111562850017
Qtr215640376021
Qtr38493900014
Qtr418126500016
202000
Qtr18976300012
Qtr266727149.620
Qtr3654680006
Qtr414227760010
202100
Qtr1285477764
Qtr214404423320
Qtr327125800034
Qtr4377208361.0539
202200
Qtr132488427839
Qtr227123079828
Qtr313945800018
Qtr48486550012
202300
Qtr116121000010
Qtr210617688718
Qtr38246900010
Qtr422927750015
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr1000.8273.23404.061
Qtr2026807107.8431370.3824.70226807107.8431375.084
Qtr3000.2922.3802.672
Qtr4028668338.04461.1315.72528668338.04466.856
2020000000
Qtr1001.9611.0403.001
Qtr2001.42200000584131.402000021189502.8240000270307
Qtr3001.10100002586840.1920000016689301.2930000275373
Qtr4002.24800001829861.642000019550303.8900000378489
2021000000
Qtr1000.5670.3300.897
Qtr2001.27600001916294.60000003272305.8760000518858
Qtr3025264451.52.95600006729365.696000009775225264451.58.6520000770688
Qtr40233275313.31299994885926.79500001668932332753110.107999965549
2022000000
Qtr1004.55299997329717.6950000226498012.247999995947
Qtr20255892230.734999984502799.88100008666522558922310.616000071168
Qtr3002.98399995267391.296000011265304.2799999639392
Qtr4000.564000010490422.565999992191803.1300000026822
2023000000
Qtr14876288702.14300004392860.58399999141693487628872.7270000353456
Qtr2000.642000012099741.398000024259102.0400000363588
Qtr3000.741000004112720.6789999976754201.4200000017881
Qtr4004.6490000262856004.6490000262856
Grand Total000000

2023 Q4

West Vancouver Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
No Transactions in Q4-2023---
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr200
Qtr300
Qtr400
202000
Qtr100
Qtr200
Qtr360000000
Qtr400
202100
Qtr100
Qtr200
Qtr300
Qtr458750001
202200
Qtr100
Qtr200
Qtr329367942.62
Qtr400
202300
Qtr100
Qtr200
Qtr300
Qtr400
Grand Total00
Price/Acre (Avg)
Row LabelsPrice/Acre - High DensityPrice/Acre - Medium DensityLand Size (Acre) - High DensityLand Size (Acre) - Medium DensityTotal Price/AcreTotal Land Size (Acre)
2019000000
Qtr1000000
Qtr2000000
Qtr3000000
Qtr4000000
2020000000
Qtr1000000
Qtr2000000
Qtr3000000
Qtr4000000
2021000000
Qtr1000000
Qtr2000000
Qtr3000000
Qtr4000000
2022000000
Qtr1000000
Qtr2000000
Qtr3000000
Qtr4000000
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