2023 Q4

Greater Vancouver ICI Land Sales Market Report

Home / Reports / 2023 - Q4 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.

Burnaby

Coquitlam

New Westminster

North Vancouver

Port Coquitlam

Port Moody

Richmond

Vancouver

Highlights

How ICI 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%
Burnaby6$ 40,183,6009%5$ 16,105,0003%7$ 81,840,0009%6$ 73,940,00011%6$ 59,764,50018%
Coquitlam4$ 11,827,0003%6$ 101,005,00017%5$ 81,705,0009%8$ 44,752,0007%7$ 18,924,2406%
New Westminster5$ 12,415,0003%0$ 00%1$ 5,000,0001%0$ 00%1$ 1,000,0000%
North Vancouver2$ 13,150,0003%1$ 58,550,75810%1$ 2,450,0000%1$ 9,100,0001%0$ 00%
Port Coquitlam5$ 87,840,00020%5$ 29,865,6005%2$ 24,330,0003%5$ 23,750,0003%1$ 15,198,7984%
Port Moody4$ 16,174,7004%1$ 2,750,0000%2$ 1,880,0000%0$ 00%0$ 00%
Richmond19$ 120,677,80027%16$ 64,275,88811%26$ 112,844,61012%25$ 317,893,13947%14$ 126,312,80037%
Vancouver11$ 140,261,90032%16$ 324,544,29754%24$ 626,157,49667%11$ 212,160,00031%13$ 120,194,00035%
Total56$ 442,530,000100%50$ 597,096,543100%68$ 936,207,106100%56$ 681,595,139100%42$ 341,394,338100%

	2019	2020	2021	2022	2023
	Sales	$ Volume	%	Sales	$ Volume	%	Sales	$ Volume	%	Sales	$ Volume	%	Sales	$ Volume	%
Burnaby	6	$ 40,183,600	9%	5	$ 16,105,000	3%	7	$ 81,840,000	9%	6	$ 73,940,000	11%	6	$ 59,764,500	18%
Coquitlam	4	$ 11,827,000	3%	6	$ 101,005,000	17%	5	$ 81,705,000	9%	8	$ 44,752,000	7%	7	$ 18,924,240	6%
New Westminster	5	$ 12,415,000	3%	0	$ 0	0%	1	$ 5,000,000	1%	0	$ 0	0%	1	$ 1,000,000	0%
North Vancouver	2	$ 13,150,000	3%	1	$ 58,550,758	10%	1	$ 2,450,000	0%	1	$ 9,100,000	1%	0	$ 0	0%
Port Coquitlam	5	$ 87,840,000	20%	5	$ 29,865,600	5%	2	$ 24,330,000	3%	5	$ 23,750,000	3%	1	$ 15,198,798	4%
Port Moody	4	$ 16,174,700	4%	1	$ 2,750,000	0%	2	$ 1,880,000	0%	0	$ 0	0%	0	$ 0	0%
Richmond	19	$ 120,677,800	27%	16	$ 64,275,888	11%	26	$ 112,844,610	12%	25	$ 317,893,139	47%	14	$ 126,312,800	37%
Vancouver	11	$ 140,261,900	32%	16	$ 324,544,297	54%	24	$ 626,157,496	67%	11	$ 212,160,000	31%	13	$ 120,194,000	35%
Total	56	$ 442,530,000	100%	50	$ 597,096,543	100%	68	$ 936,207,106	100%	56	$ 681,595,139	100%	42	$ 341,394,338	100%

2019
Burnaby6$ 40,183,6009%
Coquitlam4$ 11,827,0003%
New Westminster5$ 12,415,0003%
North Vancouver2$ 13,150,0003%
Port Coquitlam5$ 87,840,00020%
Port Moody4$ 16,174,7004%
Richmond19$ 120,677,80027%
Vancouver11$ 140,261,90032%
Total56$ 442,530,000100%
2020
Burnaby5$ 16,105,0003%
Coquitlam6$ 101,005,00017%
New Westminster0$ 00%
North Vancouver1$ 58,550,75810%
Port Coquitlam5$ 29,865,6005%
Port Moody1$ 2,750,0000%
Richmond16$ 64,275,88811%
Vancouver16$ 324,544,29754%
Total50$ 597,096,543100%
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%
Total68$ 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%

	2019

Burnaby	6	$ 40,183,600	9%
Coquitlam	4	$ 11,827,000	3%
New Westminster	5	$ 12,415,000	3%
North Vancouver	2	$ 13,150,000	3%
Port Coquitlam	5	$ 87,840,000	20%
Port Moody	4	$ 16,174,700	4%
Richmond	19	$ 120,677,800	27%
Vancouver	11	$ 140,261,900	32%
Total	56	$ 442,530,000	100%

2020

Burnaby	5	$ 16,105,000	3%
Coquitlam	6	$ 101,005,000	17%
New Westminster	0	$ 0	0%
North Vancouver	1	$ 58,550,758	10%
Port Coquitlam	5	$ 29,865,600	5%
Port Moody	1	$ 2,750,000	0%
Richmond	16	$ 64,275,888	11%
Vancouver	16	$ 324,544,297	54%
Total	50	$ 597,096,543	100%

2021

Burnaby	7	$ 81,840,000	9%
Coquitlam	5	$ 81,705,000	9%
New Westminster	1	$ 5,000,000	1%
North Vancouver	1	$ 2,450,000	0%
Port Coquitlam	2	$ 24,330,000	3%
Port Moody	2	$ 1,880,000	0%
Richmond	26	$ 112,844,610	12%
Vancouver	24	$ 626,157,496	67%
Total	68	$ 936,207,106	100%

2022

Burnaby	6	$ 73,940,000	11%
Coquitlam	8	$ 44,752,000	7%
New Westminster	0	$ 0	0%
North Vancouver	1	$ 9,100,000	1%
Port Coquitlam	5	$ 23,750,000	3%
Port Moody	0	$ 0	0%
Richmond	25	$ 317,893,139	47%
Vancouver	11	$ 212,160,000	31%
Total	56	$ 681,595,139	100%

2023

Burnaby	6	$ 59,764,500	18%
Coquitlam	7	$ 18,924,240	6%
New Westminster	1	$ 1,000,000	0%
North Vancouver	0	$ 0	0%
Port Coquitlam	1	$ 15,198,798	4%
Port Moody	0	$ 0	0%
Richmond	14	$ 126,312,800	37%
Vancouver	13	$ 120,194,000	35%
Total	42	$ 341,394,338	100%

$ 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

Date	$ Volume	Sales
2019
Qtr1	87905500	11
Qtr2	178514700	20
Qtr3	87102700	15
Qtr4	89007100	10
2020
Qtr1	180176444	17
Qtr2	412219050	122
Qtr3	159685270.5	51
Qtr4	203720211.22	13
2021
Qtr1	180458000	16
Qtr2	156960000	15
Qtr3	258736888	19
Qtr4	340052218.43	18
2022
Qtr1	309362000	16
Qtr2	78885000	10
Qtr3	163063569.18	15
Qtr4	130284570	15
2023
Qtr1	156369240	18
Qtr2	104357598	14
Qtr3	23647500	6
Qtr4	58520000	5

ICI Land Market Share

2023 Q4

Burnaby ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023-Q4---

Transaction Name	Price	Size (Acre)	Price/Acre
No Transactions in 2023-Q4	-	-	-

$ Volume And Number Of Transactions

Row LabelsDollar VolumeTransactions
2019000
Qtr12249560030
Qtr2315000010
Qtr31335000010
Qtr4118800010
2020000
Qtr1279500020
Qtr2388000010
Qtr3820000010
Qtr4000
2021000
Qtr1000
Qtr2000
Qtr3000
Qtr4000
2022000
Qtr14920000030
Qtr2000
Qtr3000
Qtr42474000030
2023000
Qtr12431000010
Qtr2648200020
Qtr3466250020
Qtr4000
Grand Total000

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	22495600	3
Qtr2	3150000	1
Qtr3	13350000	1
Qtr4	1188000	1
2020	0	0
Qtr1	2795000	2
Qtr2	3880000	1
Qtr3	8200000	1
Qtr4	0	0
2021	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2022	0	0
Qtr1	49200000	3
Qtr2	0	0
Qtr3	0	0
Qtr4	24740000	3
2023	0	0
Qtr1	24310000	1
Qtr2	6482000	2
Qtr3	4662500	2
Qtr4	0	0
Grand Total	0	0

Price/Acre (Avg)

Row LabelsAgriculturalCommercialIndustrialInstitutionalOtherGrand Total
2019000000
Qtr107000000.001581069.9609080459.7717661529.73
Qtr2000000.00
Qtr3022820512.8200022820512.82
Qtr4000000.00
2020000000
Qtr12472972.9700010994152.0513467125.02
Qtr200025526315.79025526315.79
Qtr3005631868.00005631868.00
Qtr4000000.00
2021000000
Qtr1000000.00
Qtr2000000.00
Qtr3000000.00
Qtr4000000.00
2022000000
Qtr1007986281.67007986281.67
Qtr2000000.00
Qtr3000000.00
Qtr40007344380.0007344380.00
2023000000
Qtr10010955025.000010955025.00
Qtr2000000
Qtr3000000
Qtr4000000
Grand Total2472972.9729820512.8226154244.6332870695.7920074611.82111393038.03

Row Labels	Agricultural	Commercial	Industrial	Institutional	Other	Grand Total
2019	0	0	0	0	0	0
Qtr1	0	7000000.00	1581069.96	0	9080459.77	17661529.73
Qtr2	0	0	0	0	0	0.00
Qtr3	0	22820512.82	0	0	0	22820512.82
Qtr4	0	0	0	0	0	0.00
2020	0	0	0	0	0	0
Qtr1	2472972.97	0	0	0	10994152.05	13467125.02
Qtr2	0	0	0	25526315.79	0	25526315.79
Qtr3	0	0	5631868.00	0	0	5631868.00
Qtr4	0	0	0	0	0	0.00
2021	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0.00
Qtr3	0	0	0	0	0	0.00
Qtr4	0	0	0	0	0	0.00
2022	0	0	0	0	0	0
Qtr1	0	0	7986281.67	0	0	7986281.67
Qtr2	0	0	0	0	0	0.00
Qtr3	0	0	0	0	0	0.00
Qtr4	0	0	0	7344380.00	0	7344380.00
2023	0	0	0	0	0	0
Qtr1	0	0	10955025.00	0	0	10955025.00
Qtr2	0	0	0	0	0	0
Qtr3	0	0	0	0	0	0
Qtr4	0	0	0	0	0	0
Grand Total	2472972.97	29820512.82	26154244.63	32870695.79	20074611.82	111393038.03

2023 Q4

Coquitlam ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
930 Westwood Street$ 1,266,0000.1-

Transaction Name	Price	Size (Acre)	Price/Acre
930 Westwood Street	$ 1,266,000	0.1	-

$ 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
Grand Total00

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	0	0
Qtr2	4898000	2
Qtr3	4904000	1
Qtr4	2025000	1
2020	0	0
Qtr1	6605000	3
Qtr2	91000000	2
Qtr3	0	0
Qtr4	0	0
2021	0	0
Qtr1	0	0
Qtr2	11525000	1
Qtr3	49180000	3
Qtr4	21000000	1
2022	0	0
Qtr1	5760000	2
Qtr2	58650000	6
Qtr3	6310000	2
Qtr4	9392000	3
2023	0	0
Qtr1	7386620	2
Qtr2	1000000	1
Qtr3	1885000	1
Qtr4	1266000	1
Grand Total	0	0

Price/Acre (Avg)

Row LabelsAgriculturalIndustrialInfrastructureParkForeign InvestorGovernmentGrand Total
20190000000
Qtr10000000.00
Qtr20000000.00
Qtr30000000.00
Qtr400050625.000050625.00
20200000000
Qtr1492341.000738540.000001230881.00
Qtr200003082038.007095159.0010177197.00
Qtr30000000.00
Qtr40000000.00
20210000000
Qtr10000000.00
Qtr20000000.00
Qtr3650970.004737475.0000005388445.00
Qtr403107428.0000003107428.00
20220000000
Qtr10000000.00
Qtr2299699.506932471.0000007232170.50
Qtr300019006024.000019006024.00
Qtr4555556.0000000555556.00
20230000000
Qtr10000000.00
Qtr20000000
Qtr30000000
Qtr40000000
Grand Total1998566.5014777374.00738540.0019056649.003082038.007095159.0046748326.50

Row Labels	Agricultural	Industrial	Infrastructure	Park	Foreign Investor	Government	Grand Total
2019	0	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0	0.00
Qtr3	0	0	0	0	0	0	0.00
Qtr4	0	0	0	50625.00	0	0	50625.00
2020	0	0	0	0	0	0	0
Qtr1	492341.00	0	738540.00	0	0	0	1230881.00
Qtr2	0	0	0	0	3082038.00	7095159.00	10177197.00
Qtr3	0	0	0	0	0	0	0.00
Qtr4	0	0	0	0	0	0	0.00
2021	0	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0	0.00
Qtr3	650970.00	4737475.00	0	0	0	0	5388445.00
Qtr4	0	3107428.00	0	0	0	0	3107428.00
2022	0	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0	0.00
Qtr2	299699.50	6932471.00	0	0	0	0	7232170.50
Qtr3	0	0	0	19006024.00	0	0	19006024.00
Qtr4	555556.00	0	0	0	0	0	555556.00
2023	0	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0	0
Qtr3	0	0	0	0	0	0	0
Qtr4	0	0	0	0	0	0	0
Grand Total	1998566.50	14777374.00	738540.00	19056649.00	3082038.00	7095159.00	46748326.50

2023 Q4

New Westminster ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q4---

Transaction Name	Price	Size (Acre)	Price/Acre
No Transactions in 2023 - Q4	-	-	-

$ 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
Grand Total00

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	0	0
Qtr2	1750000	1
Qtr3	9515000	3
Qtr4	1150000	1
2020	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2021	0	0
Qtr1	0	0
Qtr2	5000000	1
Qtr3	0	0
Qtr4	0	0
2022	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2023	0	0
Qtr1	0	0
Qtr2	1000000	1
Qtr3	0	0
Qtr4	0	0
Grand Total	0	0

Price/Acre (Avg)

Row LabelsCommercialInfrastructureInstitutionalParkOtherGrand Total
2019000000
Qtr1000000.00
Qtr2007510729.61007510729.61
Qtr3025586956.52004839357.4330426313.95
Qtr40005750000.0005750000.00
2020000000
Qtr1000000.00
Qtr2000000.00
Qtr3000000.00
Qtr4000000.00
2021000000
Qtr1000000.00
Qtr22134927.0000002134927.00
Qtr3000000.00
Qtr4000000.00
2022000000
Qtr1000000.00
Qtr2000000
Qtr3000000.00
Qtr4000000.00
2023000000
Qtr1000000.00
Qtr2000000
Qtr3000000
Qtr4000000
Grand Total2134927.0025586956.527510729.615750000.004839357.4345821970.57

Row Labels	Commercial	Infrastructure	Institutional	Park	Other	Grand Total
2019	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0.00
Qtr2	0	0	7510729.61	0	0	7510729.61
Qtr3	0	25586956.52	0	0	4839357.43	30426313.95
Qtr4	0	0	0	5750000.00	0	5750000.00
2020	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0.00
Qtr3	0	0	0	0	0	0.00
Qtr4	0	0	0	0	0	0.00
2021	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0.00
Qtr2	2134927.00	0	0	0	0	2134927.00
Qtr3	0	0	0	0	0	0.00
Qtr4	0	0	0	0	0	0.00
2022	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0
Qtr3	0	0	0	0	0	0.00
Qtr4	0	0	0	0	0	0.00
2023	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0.00
Qtr2	0	0	0	0	0	0
Qtr3	0	0	0	0	0	0
Qtr4	0	0	0	0	0	0
Grand Total	2134927.00	25586956.52	7510729.61	5750000.00	4839357.43	45821970.57

2023 Q4

North Vancouver ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q4---

Transaction Name	Price	Size (Acre)	Price/Acre
No Transactions in 2023 - Q4	-	-	-

$ 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
Grand Total832507585

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	1150000	1
Qtr2	12000000	1
Qtr3	0	0
Qtr4	0	0
2020	0	0
Qtr1	58550758	1
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2021	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	2450000	1
Qtr4	0	0
2022	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	9100000	1
Qtr4	0	0
2023	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
Grand Total	83250758	5

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
Grand Total11718750.006353591.1648555.5918120896.75

Row Labels	Industrial	Institutional	Recreation	Grand Total
2019	0	0	0	0
Qtr1	0	6353591.16	0	6353591.16
Qtr2	11718750.00	0	0	11718750.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2020	0	0	0	0
Qtr1	0	0	48555.59	48555.59
Qtr2	0	0	0	0.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2021	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	0	0	0.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2022	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	0	0	0.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2023	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	0	0	0
Qtr3	0	0	0	0
Qtr4	0	0	0	0
Grand Total	11718750.00	6353591.16	48555.59	18120896.75

2023 Q4

Port Coquitlam ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q4---

Transaction Name	Price	Size (Acre)	Price/Acre
No Transactions in 2023 - Q4	-	-	-

$ 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
Grand Total17828439817

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	0	0
Qtr2	62050000	3
Qtr3	22000000	1
Qtr4	3790000	1
2020	0	0
Qtr1	10400000	1
Qtr2	2700000	1
Qtr3	0	0
Qtr4	14065600	2
2021	0	0
Qtr1	0	0
Qtr2	1830000	1
Qtr3	22500000	1
Qtr4	0	0
2022	0	0
Qtr1	14050000	2
Qtr2	0	0
Qtr3	9700000	3
Qtr4	0	0
2023	0	0
Qtr1	0	0
Qtr2	15198798	1
Qtr3	0	0
Qtr4	0	0
Grand Total	178284398	17

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
Grand Total3457648.502592763.0022038670.509310344.8337399426.83

Row Labels	Agricultural	Commercial	Industrial	Institutional	Grand Total
2019	0	0	0	0	0
Qtr1	0	0	0	0	0.00
Qtr2	697115.00	0	2129119.50	0	2826234.50
Qtr3	0	0	2272727.00	0	2272727.00
Qtr4	783058.00	0	0	0	783058.00
2020	0	0	0	0	0
Qtr1	0	0	3172666.00	0	3172666.00
Qtr2	0	0	0	9310344.83	9310344.83
Qtr3	0	0	0	0	0.00
Qtr4	0	0	1379133.00	0	1379133.00
2021	0	0	0	0	0
Qtr1	0	0	0	0	0.00
Qtr2	349437.00	0	0	0	349437.00
Qtr3	0	2592763.00	0	0	2592763.00
Qtr4	0	0	0	0	0.00
2022	0	0	0	0	0
Qtr1	1163985.00	0	2130000.00	0	3293985.00
Qtr2	0	0	0	0	0.00
Qtr3	464053.50	0	0	0	464053.50
Qtr4	0	0	0	0	0.00
2023	0	0	0	0	0
Qtr1	0	0	10955025.00	0	10955025.00
Qtr2	0	0	0	0	0
Qtr3	0	0	0	0	0
Qtr4	0	0	0	0	0
Grand Total	3457648.50	2592763.00	22038670.50	9310344.83	37399426.83

2023 Q4

Port Moody ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q4---

Transaction Name	Price	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
Grand Total208047007

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	0	0
Qtr2	10400000	2
Qtr3	5774700	2
Qtr4	0	0
2020	0	0
Qtr1	2750000	1
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2021	0	0
Qtr1	1880000	2
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2022	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
2023	0	0
Qtr1	0	0
Qtr2	0	0
Qtr3	0	0
Qtr4	0	0
Grand Total	20804700	7

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
Grand Total9102438.1224077208.253900000.0037079646.37

Row Labels	Commercial	Industrial	Park	Grand Total
2019	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	9848484.85	3900000.00	13748484.85
Qtr3	4616304.35	14228723.40	0	18845027.75
Qtr4	0	0	0	0.00
2020	0	0	0	0
Qtr1	4486133.77	0	0	4486133.77
Qtr2	0	0	0	0.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2021	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	0	0	0.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2022	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	0	0	0.00
Qtr3	0	0	0	0.00
Qtr4	0	0	0	0.00
2023	0	0	0	0
Qtr1	0	0	0	0.00
Qtr2	0	0	0	0
Qtr3	0	0	0	0
Qtr4	0	0	0	0
Grand Total	9102438.12	24077208.25	3900000.00	37079646.37

2023 Q4

Richmond ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
22451 Gilley Road$ 3,360,0008.0$ 420,000

Transaction Name	Price	Size (Acre)	Price/Acre
22451 Gilley Road	$ 3,360,000	8.0	$ 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
Grand Total742004237.18100

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	14809900	4
Qtr2	45092800	6
Qtr3	12609000	5
Qtr4	48166100	4
2020	0	0
Qtr1	12651000	5
Qtr2	8835000	2
Qtr3	16749888	5
Qtr4	26040000	4
2021	0	0
Qtr1	27578000	6
Qtr2	33030000	7
Qtr3	18568888	6
Qtr4	33667722	7
2022	0	0
Qtr1	106882000	5
Qtr2	49560000	7
Qtr3	69548569.18	6
Qtr4	91902570	7
2023	0	0
Qtr1	69476000	8
Qtr2	53476800	5
Qtr3	0	0
Qtr4	3360000	1
Grand Total	742004237.18	100

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
Grand Total22318418.624950361.5640054379.7161368964.51121132735.90

Row Labels	Agricultural	Agricultural Business	Commercial	Industrial	Grand Total
2019	0	0	0	0	0
Qtr1	6192545.87	472049.69	12049689.44	4872563.72	23586848.72
Qtr2	2864687.57	0	7734193.51	1940035.27	12538916.35
Qtr3	1238647.41	0	16347419.83	0	17586067.25
Qtr4	2005773.51	0	0	2859862.19	4865635.71
2020	0	0	0	0	0
Qtr1	328016.18	203802.37	3923076.92	4476661.33	8931556.80
Qtr2	555000.00	0	0	3663845.00	4218845.00
Qtr3	732695.00	743767.00	0	0	1476462.00
Qtr4	1127931.00	654000.00	0	4356846.00	6138777.00
2021	0	0	0	0	0
Qtr1	0	0	0	0	0.00
Qtr2	0	0	0	0	0.00
Qtr3	1106815.00	0	0	0	1106815.00
Qtr4	832683.33	389243.50	0	5388889.00	6610815.83
2022	0	0	0	0	0
Qtr1	695200.00	0	0	5611136.00	6306336.00
Qtr2	1174447.00	1977728.00	0	0	3152175.00
Qtr3	459182.75	0	0	5551443.00	6010625.75
Qtr4	490269.00	509771.00	0	9623431.00	10623471.00
2023	0	0	0	0	0
Qtr1	1576763.00	0	0	8782051.00	5179407
Qtr2	517762.00	0	0	4242201.00	2379981.5
Qtr3	0	0	0	0	0
Qtr4	420000.00	0	0	0	420000
Grand Total	22318418.62	4950361.56	40054379.71	61368964.51	121132735.90

2023 Q4

Vancouver ICI Land Sales

Sales & Price By Neighbourhood

Transaction NamePrice Size (Acre)Price/Acre
2929 Commercial Drive$ 7,500,0000.3-
2956 Victoria Drive$ 1,850,0000.1-

Transaction Name	Price	Size (Acre)	Price/Acre
2929 Commercial Drive	$ 7,500,000	0.3	-
2956 Victoria Drive	$ 1,850,000	0.1	-

$ 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
Grand Total1405879693.6575

Row Labels	Dollar Volume	Transactions
2019	0	0
Qtr1	49450000	3
Qtr2	39173900	4
Qtr3	18950000	2
Qtr4	14000000	1
2020	0	0
Qtr1	86424686	4
Qtr2	21700000	3
Qtr3	57435000	4
Qtr4	158984611.22	5
2021	0	0
Qtr1	151000000	8
Qtr2	81975000	5
Qtr3	164088000	7
Qtr4	230344496.43	5
2022	0	0
Qtr1	136350000	5
Qtr2	0	0
Qtr3	71560000	4
Qtr4	4250000	2
2023	0	0
Qtr1	23500000	4
Qtr2	27200000	4
Qtr3	15600000	2
Qtr4	53894000	3
Grand Total	1405879693.65	75

Price/Acre (Avg)

Row LabelsAgriculturalCommercialIndustrialInfrastructureOfficeParkGovernmentLong TermGrand Total
2019000000000
Qtr1037998174.5600000037998174.56
Qtr2036015923.5921075135.140017119565.220074210623.95
Qtr30016943521.590037432432.430054375954.03
Qtr400100719424.4600000100719424.46
2020000000000
Qtr1091665104.48076923076.9245883221.26000214471402.66
Qtr200003191057.0003191057.0006382114.00
Qtr3000000000.00
Qtr4009138291.67000009138291.67
2021000000000
Qtr1035941476.0000000035941476.00
Qtr2000000000.00
Qtr37737931.0000055876102.0000063614033.00
Qtr40012178485.500000012178485.50
2022000000000
Qtr13756574.0000000069589422.0073345996.00
Qtr2000000000.00
Qtr30012092732.0012273254.00000024365986.00
Qtr4000000000.00
2023000000000
Qtr1000000000.00
Qtr2009696970.00000009696970.00
Qtr3000000000
Qtr4025777778.0000000025777778.00
Grand Total11494505.00227398456.63181844560.3689196330.92104950380.26000706741961.82

Row Labels	Agricultural	Commercial	Industrial	Infrastructure	Office	Park	Government	Long Term	Grand Total
2019	0	0	0	0	0	0	0	0	0
Qtr1	0	37998174.56	0	0	0	0	0	0	37998174.56
Qtr2	0	36015923.59	21075135.14	0	0	17119565.22	0	0	74210623.95
Qtr3	0	0	16943521.59	0	0	37432432.43	0	0	54375954.03
Qtr4	0	0	100719424.46	0	0	0	0	0	100719424.46
2020	0	0	0	0	0	0	0	0	0
Qtr1	0	91665104.48	0	76923076.92	45883221.26	0	0	0	214471402.66
Qtr2	0	0	0	0	3191057.00	0	3191057.00	0	6382114.00
Qtr3	0	0	0	0	0	0	0	0	0.00
Qtr4	0	0	9138291.67	0	0	0	0	0	9138291.67
2021	0	0	0	0	0	0	0	0	0
Qtr1	0	35941476.00	0	0	0	0	0	0	35941476.00
Qtr2	0	0	0	0	0	0	0	0	0.00
Qtr3	7737931.00	0	0	0	55876102.00	0	0	0	63614033.00
Qtr4	0	0	12178485.50	0	0	0	0	0	12178485.50
2022	0	0	0	0	0	0	0	0	0
Qtr1	3756574.00	0	0	0	0	0	0	69589422.00	73345996.00
Qtr2	0	0	0	0	0	0	0	0	0.00
Qtr3	0	0	12092732.00	12273254.00	0	0	0	0	24365986.00
Qtr4	0	0	0	0	0	0	0	0	0.00
2023	0	0	0	0	0	0	0	0	0
Qtr1	0	0	0	0	0	0	0	0	0.00
Qtr2	0	0	9696970.00	0	0	0	0	0	9696970.00
Qtr3	0	0	0	0	0	0	0	0	0
Qtr4	0	25777778.00	0	0	0	0	0	0	25777778.00
Grand Total	11494505.00	227398456.63	181844560.36	89196330.92	104950380.26	0	0	0	706741961.82

ICI Land Specialists

View All

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Nahal Gamini PREC*

IIDA, IDC, NCIDQ

604 684 8844 · 702

[email protected]

Industrial | Land | Multi-Family | Office | Retail | Medical Services | Institutional / Special | Business and Property

Nahal Gamini is an award-winning Interior Designer, with 17 years of experience in Development and Real Estate, bringing enthusiasm and expertise to each client that she represents. She offers each of her clients personalized service and expertise on location, space, and lease/purchase options and is a trusted resource in the…

Olga Tarasenko

B.Ling (BACHELOR OF LINGUISTICS), DIBM

604 684 8844 · 705

[email protected]

Land | Multi-Family

“Set a goal so big that you can’t achieve, until you grow into the person who can” - this quote perfectly describes Olga’s nature and attitude to business. Born in Ukraine, Olga moved to Canada right after she got her Bachelors in Linguistics, becoming fluent in English and Japanese. Vancouver…

Bready Wu

604 684 8844 · 711

[email protected]

Land Assembly

With many years of experience in the hospitality industry, this has given Bready a high level of understanding of how important it is to follow Platinum Rule: Always treat others the way they want to be treated. From growing up in a major city in China, completing education studies in…

Dino (Dean) Thomas PREC*

DEC

604 684 8844 · 706

[email protected]

Industrial | Land | Retail

For Dean Thomas, real estate investment grew from a curiosity in high school to a passion as he continued his studies while growing up in Quebec. From an early age he enthusiastically followed the progression of raw land from concept, to development, to final completion. An exceedingly successful negotiator, he…

Alex Kwong

BA

Focused Industrial

604 684 8844 · 723

[email protected]

Industrial

Alex, a native of Vancouver, B.C., has a thriving career as a commercial real estate agent, with a particular focus on the industrial asset class. Embarking on his real estate journey in the residential sector while residing in Calgary, Alberta, Alex swiftly established himself. Over his initial two years, he…

Josh Rosenberg

Managing Broker

604 684 8844 · 716

[email protected]

Josh was born and raised in Vancouver, B.C. He grew up in Dunbar and attended several small private schools. Josh was a member of the first class to graduate from the prestigious West Point Grey Academy. From his mother, an award-winning author and Member of the Order of Canada, he…

Amir Kamyab-Nejad

B.Eng, MBA

604 684 8844 · 712

[email protected]

Land | Retail

Amir Kamyab-Nejad is a trusted expert in real estate and business strategy, combining over a decade of hands-on experience with advanced academic and professional credentials. With an MBA from Simon Fraser University, a Bachelor’s in Electronics Engineering, and prestigious designations such as CCIM (Certified Commercial Investment Member) and FRI (Fellow…

Sunny Oberoi

604 684 8844 • 721

[email protected]

Retail | Industrial

As a young Commercial real estate professional, Sunny brings over 20 years of worth of experience to the Lower Mainland Real Estate Community. Striving to achieving his goals has always come naturally to Sunny as he was a competitive cyclist at the age of thirteen and later in his teens,…

Dmytro Chernysh PREC*

DIBM, BSKin

Focused Industrial

604 684 8844 · 704

[email protected]

Industrial

Dmytro Chernysh joined Klein Group Royal LePage Commercial in 2018 and specializes in both investment sales and leasing of industrial properties and development sites throughout Greater Vancouver. Dmytro’s honest approach to advisory and service excellence has fast resulted in repeat assignments with loyal clientele. He currently represents over $175 million…

Brian Oh PREC*

M.Eng

604 684 8844 · 710

[email protected]

Business | Business and Property | Retail

Brian Oh is a certified real estate agent representing homeowners, prospective homeowners, and commercial real estate investors in the Greater Vancouver region. Dedicated to fostering long-lasting relationships, Brian is recognized for his client-centric philosophy and analytical acumen in sourcing high-quality properties and/or buyers, and working alongside clients through each phase…

Michael Coulter

604 684 8844 · 709

[email protected]

Land | Industrial

With a fresh perspective and an unwavering commitment to excellence, Michael Coulter is poised to make a significant impact in the industry. Michael brings a unique blend of enthusiasm, adaptability, and a hunger to succeed. Drawing from a diverse background, he approaches real estate with a fresh set of eyes,…

Eugen Klein

B.Comm, FRI, CLO, CRES, ARM®, RI, CCIM, CIPS, ICD.D

604 684 8844 · 701

[email protected]

Land | Multi-Family | Retail | Mobile Home Park

- Royal LePage National Chairman's Club (Top 1%) 2012 - 2019 - Royal LePage Award of Excellence 2014 - 2019 - Royal LePage Top 10% National Commercial Sales 2017, 2019 - #1 in Canada for Royal LePage Commercial in 2017 - Commercial REALTOR® 24 years - Mobile Home Park owner…

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Vancouver BC
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O 604 684 8844
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Vancouver BC
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2023 Q4

Greater Vancouver ICI Land Sales Market Report

Table Of COntents

Highlights

How ICI 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

$ Volume And Number Of Transactions

ICI Land Market Share

2023 Q4

Burnaby ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

Coquitlam ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

New Westminster ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

North Vancouver ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

Port Coquitlam ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

Port Moody ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

Richmond ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

2023 Q4

Vancouver ICI Land Sales

Sales & Price By Neighbourhood

$ Volume And Number Of Transactions

Price/Acre (Avg)

ICI Land Specialists

Nahal Gamini PREC*

IIDA, IDC, NCIDQ

Industrial | Land | Multi-Family | Office | Retail | Medical Services | Institutional / Special | Business and Property

Olga Tarasenko

B.Ling (BACHELOR OF LINGUISTICS), DIBM

Land | Multi-Family

Bready Wu

Dino (Dean) Thomas PREC*

DEC

Industrial | Land | Retail

Alex Kwong

BA

Focused Industrial

Josh Rosenberg

Managing Broker

Amir Kamyab-Nejad

B.Eng, MBA

Land | Retail

Sunny Oberoi

Retail | Industrial

Dmytro Chernysh PREC*

DIBM, BSKin

Focused Industrial