2024 Q2

Greater Vancouver ICI Land Sales Market Report

Klein | Reports | 2024 - Q2 Commercial ICI 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 ICI Land properties have responded to the market.

100
2024 Q2 Sales Transactions
$110B
2024 Q2 Sales Volume
440

Largest Market Share - City

2024 Q2

Greater Vancouver Overview

Total Sales & Transaction Volume
2021202220232024 (Q1-Q2)
Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%
Burnaby7$ 81,840,0009%6$ 73,940,00011%6$ 59,764,50018%7$ 100,700,00021%
Coquitlam5$ 81,705,0009%8$ 44,752,0007%7$ 18,924,2406%1$ 12,200,0002%
New Westminster1$ 5,000,0001%0$ 00%1$ 1,000,0000%2$ 75,240,00015%
North Vancouver1$ 2,450,0000%1$ 9,100,0001%0$ 00%1$ 145,000,00030%
Port Coquitlam2$ 24,330,0003%5$ 23,750,0003%1$ 15,198,7984%2$ 6,950,0001%
Port Moody2$ 1,880,0000%0$ 00%0$ 00%0$ 00%
Richmond26$ 112,844,61012%25$ 317,893,13947%14$ 126,312,80037%12$ 112,153,85123%
Vancouver24$ 626,157,49667%11$ 212,160,00031%13$ 120,194,00035%4$ 36,425,0007%
Total56$ 936,207,106100%56$ 681,595,139100%42$ 341,394,338100%29$ 488,668,851100%
2021
Burnaby7$ 81,840,0009%
Coquitlam5$ 81,705,0009%
New Westminster1$ 5,000,0001%
North Vancouver1$ 2,450,0000%
Port Coquitlam2$ 24,330,0003%
Port Moody2$ 1,880,0000%
Richmond26$ 112,844,61012%
Vancouver24$ 626,157,49667%
Total56$ 936,207,106100%
2022
Burnaby6$ 73,940,00011%
Coquitlam8$ 44,752,0007%
New Westminster0$ 00%
North Vancouver1$ 9,100,0001%
Port Coquitlam5$ 23,750,0003%
Port Moody0$ 00%
Richmond25$ 317,893,13947%
Vancouver11$ 212,160,00031%
Total56$ 681,595,139100%
2023
Burnaby6$ 59,764,50018%
Coquitlam7$ 18,924,2406%
New Westminster1$ 1,000,0000%
North Vancouver0$ 00%
Port Coquitlam1$ 15,198,7984%
Port Moody0$ 00%
Richmond14$ 126,312,80037%
Vancouver13$ 120,194,00035%
Total42$ 341,394,338100%
2024 (Q1-Q2)
Burnaby7$ 100,700,00021%
Coquitlam1$ 12,200,0002%
New Westminster2$ 75,240,00015%
North Vancouver1$ 145,000,00030%
Port Coquitlam2$ 6,950,0001%
Port Moody0$ 00%
Richmond12$ 112,153,85123%
Vancouver4$ 36,425,0007%
Total29$ 488,668,851100%
$ Volume And Number Of Transactions
Date$ VolumeSales
2019
Qtr18790550011
Qtr217851470020
Qtr38710270015
Qtr48900710010
2020
Qtr118017644417
Qtr2412219050122
Qtr3159685270.551
Qtr4203720211.2213
2021
Qtr118045800016
Qtr215696000015
Qtr325873688819
Qtr4340052218.4318
2022
Qtr130936200016
Qtr27888500010
Qtr3163063569.1815
Qtr413028457015
2023
Qtr115636924018
Qtr210435759814
Qtr3236475006
Qtr4585200005
2024
Qtr19417000012
Qtr239449885117
ICI Land Market Share

2024 Q2

Burnaby ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
5701 Byrne Road$ 34,500,0006.3$ 5,465,779
3890 Napier Street$ 2,250,0000.18999999761581-
7405 Hedley Avenue$ 1,950,0000.18199999630451-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1224956003
Qtr231500001
Qtr3133500001
Qtr411880001
202000
Qtr127950002
Qtr238800001
Qtr382000001
Qtr400
202100
Qtr100
Qtr200
Qtr300
Qtr400
202200
Qtr1492000003
Qtr200
Qtr300
Qtr4247400003
202300
Qtr1243100001
Qtr264820002
Qtr346625002
Qtr400
202400
Qtr1620000004
Qtr2387000003
Grand Total26515310028
Price/Acre (Avg)
Row LabelsAgriculturalCommercialIndustrialInstitutionalOtherGrand Total
2020000000
Qtr12472972.9700010994152.056733562.51
Qtr200025526315.79025526315.79
Qtr3005631868.00005631868.00
Qtr4000000
2021000000
Qtr1000000
Qtr2000000
Qtr3000000
Qtr4000000
2022000000
Qtr1007986281.67007986281.67
Qtr2000000
Qtr3000000
Qtr40007344380.0007344380.00
2023000000
Qtr10010955025.000010955025.00
Qtr2000000
Qtr3000000
Qtr4000000
2024000000
Qtr1563698.0007695652.00004129675.00
Qtr 2005465779.00005465779.00
Grand Total1518335.4907672452.7116435347.8910994152.058384057.32

2024 Q2

Coquitlam ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
1401 Lucille Starr Drive$ 12,200,0002.7$ 4,468,864
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr248980002
Qtr349040001
Qtr420250001
202000
Qtr166050003
Qtr2910000002
Qtr300
Qtr400
202100
Qtr100
Qtr2115250001
Qtr3491800003
Qtr4210000001
202200
Qtr157600002
Qtr2586500006
Qtr363100002
Qtr493920003
202300
Qtr173866202
Qtr210000001
Qtr318850001
Qtr412660001
202400
Qtr100
Qtr2122000001
Grand Total28315962029
Price/Acre (Avg)
Row LabelsAgriculturalIndustrialInfrastructureOtherParkForeign InvestorGovernmentGrand Total
201900000000
Qtr100000000.00
Qtr200000000.00
Qtr300000000.00
Qtr4000050625.000050625.00
202000000000
Qtr1492341.000738540.0000001230881.00
Qtr2000003082038.007095159.0010177197.00
Qtr300000000.00
Qtr400000000.00
202100000000
Qtr100000000.00
Qtr200000000.00
Qtr3650970.004737475.00000005388445.00
Qtr403107428.00000003107428.00
202200000000
Qtr100000000.00
Qtr2299699.506932471.00000007232170.50
Qtr3000019006024.000019006024.00
Qtr4555556.00000000555556.00
202300000000
Qtr100000000.00
Qtr200000000
Qtr300000000
Qtr400000000
202400000000
Qtr100000000
Qtr20004468864.000004468864
Grand Total1998566.5014777374.00738540.00019056649.003082038.007095159.0046748326.50

2024 Q2

New Westminster ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
1085 Tanaka Court$ 74,040,00012.9$ 5,717,375
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr217500001
Qtr395150003
Qtr411500001
202000
Qtr100
Qtr200
Qtr300
Qtr400
202100
Qtr100
Qtr250000001
Qtr300
Qtr400
202200
Qtr100
Qtr200
Qtr300
Qtr400
202300
Qtr100
Qtr210000001
Qtr300
Qtr400
202400
Qtr112000001
Qtr2740400001
Grand Total936550009
Price/Acre (Avg)
Row LabelsCommercialInfrastructureInstitutionalParkOtherIndustrialGrand Total
20190000000
Qtr10000000.00
Qtr2007510729.610007510729.61
Qtr3025586956.52004839357.43030426313.95
Qtr40005750000.00005750000.00
20200000000
Qtr10000000.00
Qtr20000000.00
Qtr30000000.00
Qtr40000000.00
20210000000
Qtr10000000.00
Qtr22134927.00000002134927.00
Qtr30000000.00
Qtr40000000.00
20220000000
Qtr10000000.00
Qtr20000000
Qtr30000000.00
Qtr40000000.00
20230000000
Qtr10000000.00
Qtr20000000
Qtr30000000
Qtr40000000
20240000000
Qtr10000000
Qtr20000057173755717375
Grand Total2134927.0012793478.267510729.615750000.004839357.435717375.007362763.65

2024 Q2

North Vancouver ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
100 Forester Street$ 145,000,00021.4$ 6,785,213
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr111500001
Qtr2120000001
Qtr300
Qtr400
202000
Qtr1585507581
Qtr200
Qtr300
Qtr400
202100
Qtr100
Qtr200
Qtr324500001
Qtr400
202200
Qtr100
Qtr200
Qtr391000001
Qtr400
202300
Qtr100
Qtr200
Qtr300
Qtr400
202400
Qtr100
Qtr21450000001
Grand Total2282507586
Price/Acre (Avg)
Row LabelsIndustrialInstitutionalRecreationGrand Total
20190000
Qtr106353591.1606353591.16
Qtr211718750.000011718750.00
Qtr30000.00
Qtr40000.00
20200000
Qtr10048555.5948555.59
Qtr20000.00
Qtr30000.00
Qtr40000.00
20210000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20220000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20230000
Qtr10000.00
Qtr20000
Qtr30000
Qtr40000
20240000
Qtr10000
Qtr26785213006785213
Grand Total9251981.506353591.1648555.594981221.95

2024 Q2

Port Coquitlam ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr2620500003
Qtr3220000001
Qtr437900001
202000
Qtr1104000001
Qtr227000001
Qtr300
Qtr4140656002
202100
Qtr100
Qtr218300001
Qtr3225000001
Qtr400
202200
Qtr1140500002
Qtr200
Qtr397000003
Qtr400
202300
Qtr100
Qtr2151987981
Qtr300
Qtr400
202400
Qtr169500002
Qtr200
Grand Total18523439819
Price/Acre (Avg)
Row LabelsAgriculturalCommercialIndustrialInstitutionalGrand Total
201900000
Qtr100000.00
Qtr2697115.0002129119.5002826234.50
Qtr3002272727.0002272727.00
Qtr4783058.00000783058.00
202000000
Qtr1003172666.0003172666.00
Qtr20009310344.839310344.83
Qtr300000.00
Qtr4001379133.0001379133.00
202100000
Qtr100000.00
Qtr2349437.00000349437.00
Qtr302592763.00002592763.00
Qtr400000.00
202200000
Qtr11163985.0002130000.0003293985.00
Qtr200000.00
Qtr3464053.50000464053.50
Qtr400000.00
202300000
Qtr10010955025.00010955025.00
Qtr200000
Qtr300000
Qtr400000
202400000
Qtr14600000320689701833448.5
Qtr200000
Grand Total625957.432592763.002345666.009310344.832044029.49

2024 Q2

Port Moody ICI 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
Qtr100
Qtr2104000002
Qtr357747002
Qtr400
202000
Qtr127500001
Qtr200
Qtr300
Qtr400
202100
Qtr118800002
Qtr200
Qtr300
Qtr400
202200
Qtr100
Qtr200
Qtr300
Qtr400
202300
Qtr100
Qtr200
Qtr300
Qtr400
202400
Qtr100
Qtr200
Grand Total208047007
Price/Acre (Avg)
Row LabelsCommercialIndustrialParkGrand Total
20190000
Qtr10000.00
Qtr209848484.853900000.0013748484.85
Qtr34616304.3514228723.40018845027.75
Qtr40000.00
20200000
Qtr14486133.77004486133.77
Qtr20000.00
Qtr30000.00
Qtr40000.00
20210000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20220000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20230000
Qtr10000.00
Qtr20000
Qtr30000
Qtr40000
20240000
Qtr10000
Qtr20000
Grand Total9102438.1224077208.253900000.0037079646.37

2024 Q2

Richmond ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
22451 Gilley Road$ 3,360,0008.0$ 420,000
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1148099004
Qtr2450928006
Qtr3126090005
Qtr4481661004
202000
Qtr1126510005
Qtr288350002
Qtr3167498885
Qtr4260400004
202100
Qtr1275780006
Qtr2330300007
Qtr3185688886
Qtr4336677227
202200
Qtr11068820005
Qtr2495600007
Qtr369548569.186
Qtr4919025707
202300
Qtr1694760008
Qtr2534768005
Qtr300
Qtr433600001
202400
Qtr1105950003
Qtr21015588519
Grand Total854158088.18112
Price/Acre (Avg)
Row LabelsAgriculturalAgricultural BusinessCommercialIndustrialGrand Total
201900000
Qtr16192545.87472049.6912049689.444872563.7223586848.72
Qtr22864687.5707734193.511940035.2712538916.35
Qtr31238647.41016347419.83017586067.25
Qtr42005773.51002859862.194865635.71
202000000
Qtr1328016.18203802.373923076.924476661.338931556.80
Qtr2555000.00003663845.004218845.00
Qtr3732695.00743767.00001476462.00
Qtr41127931.00654000.0004356846.006138777.00
202100000
Qtr100000.00
Qtr200000.00
Qtr31106815.000001106815.00
Qtr4832683.33389243.5005388889.006610815.83
202200000
Qtr1695200.00005611136.006306336.00
Qtr21174447.001977728.00003152175.00
Qtr3459182.75005551443.006010625.75
Qtr4490269.00509771.0009623431.0010623471.00
202300000
Qtr11576763.00008782051.005179407
Qtr2517762.00004242201.002379981.5
Qtr300000
Qtr4420000.00000420000
202400000
Qtr1745106000745106
Qtr21104692.250001104692.25
Grand Total00000

2024 Q2

Vancouver ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
8480 Granville Street$ 12,500,0000.2-
57 Lakewood Drive$ 10,500,000--
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1494500003
Qtr2391739004
Qtr3189500002
Qtr4140000001
202000
Qtr1864246864
Qtr2217000003
Qtr3574350004
Qtr4158984611.225
202100
Qtr11510000008
Qtr2819750005
Qtr31640880007
Qtr4230344496.435
202200
Qtr11363500005
Qtr200
Qtr3715600004
Qtr442500002
202300
Qtr1235000004
Qtr2272000004
Qtr3156000002
Qtr4538940003
202400
Qtr1134250002
Qtr2230000002
Grand Total1442304693.6579
Price/Acre (Avg)
Row LabelsAgriculturalCommercialIndustrialInfrastructureOfficeParkGovernmentLong TermGrand Total
2019000000000000
Qtr1037998174.5600000037998174.56000
Qtr2036015923.5921075135.140017119565.220074210623.95000
Qtr30016943521.590037432432.430054375954.03000
Qtr400100719424.4600000100719424.46000
2020000000000000
Qtr1091665104.48076923076.9245883221.26000214471402.66000
Qtr200003191057.0003191057.0006382114.00000
Qtr3000000000.00000
Qtr4009138291.67000009138291.67000
2021000000000000
Qtr1035941476.0000000035941476.00000
Qtr2000000000.00000
Qtr37737931.0000055876102.0000063614033.00000
Qtr40012178485.500000012178485.50000
2022000000000000
Qtr13756574.0000000069589422.0073345996.00000
Qtr2000000000.00000
Qtr30012092732.0012273254.00000024365986.00000
Qtr4000000000.00000
2023000000000000
Qtr1000000000.00000
Qtr2009696970.00000009696970.00000
Qtr3000000000000
Qtr4025777778.0000000025777778.00000
2024000000000000
Qtr1000000000000
Qtr2000000000000
Grand Total11494505.00227398456.63181844560.3689196330.92104950380.26000706741961.82000

ICI Land Specialists


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