2024 Q2

Greater Vancouver ICI Land Sales 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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Dean Thomas

Dino (Dean) Thomas PREC*

DEC

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…
Dmytro Chernysh

Dmytro Chernysh PREC*

DIBM, BSKin

Focused 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…
Josh Rosenberg

Josh Rosenberg

Managing Broker

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…
Eugen Klein

Eugen Klein

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

- 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…
Alex Kwong

Alex Kwong

BA

Focused 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…
Brian Oh

Brian Oh PREC*

M.Eng

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…
Olga Tarasenko

Olga Tarasenko

B.Ling (BACHELOR OF LINGUISTICS), DIBM

“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…
Michael Coulter

Michael Coulter

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,…
Sunny Oberoi

Sunny Oberoi

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,…
Bready Wu

Bready Wu

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…
Amir Kamyab-Nejad

Amir Kamyab-Nejad

B.Eng, MBA

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…
Nahal Gamini

Nahal Gamini PREC*

IIDA, IDC, NCIDQ

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…
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