Commercial Market Activity Down Over 30% in 2013

As we approach the end of summer, a look at transaction activity in Metro Vancouver at the 2/3 mark of the year shows a fairly significant drop compared to this time last year. Research prepared by Colliers International shows the number of transactions of over $3 Million down slightly for retail and apartment properties, and down almost 50% for office buildings (where supply has been scarce) and land (where demand is down after a busy 2012 that saw many large sites acquired).

An article in the Vancouver Sun mentions Realnet research reflects these numbers and shows even greater declines in Calgary and Toronto during the same period.

Perhaps this indicates the market’s collective belief that valuations are peaking for both investment properties and development sites.