REALTORS® Association of Edmonton
 
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Building sector strong as land sector remains soft

Edmonton, September 22, 2017: The REALTORS® Association of Edmonton Commercial Division released the semi-annual update on commercial real estate activity within the City of Edmonton. The report includes a synopsis of commercial and industrial activity for the period ending June 30, 2017 as recorded in Land Titles records when the title to the property is transferred to the buyer.

Total sales of commercial and industrial land and buildings in Edmonton for the first half of 2017 is 262, which is identical to the same period in 2016. The 2017 mid-year dollar volumes are up 39.15% to $1.21 million from $870 million in the same period last year. Declines for the period were primarily in the land sector, which were down 30.19%. Building sector sales increased 58.52% to $1.08 billion from $680 million in the same period in 2016.

Buildings sales increased throughout every category. Sales in the office sector doubled compared to 2016, up 202% to $134 million from $44.3 million. Retail activity also increased, up 133% to $371 million from $159 million in the previous period in 2016. Industrial building sales increased 30.9%. Multi-family unit sales increased 18.62%. Commercial condos sales volumes were up slightly over the previous period in 2016, by 0.7% to $50.5 million.

The total value of all land sub-sectors (industrial, commercial, multi-family, urban development and institutional) was $133 million, down $57 million compared to mid-year 2016. This represents 64 transactions, compared to 75 transactions at this point in 2016. The full report is available for download.

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*Totals may contain properties which are not included in sub-market categories (e.g. churches, gas bars etc.)
*2015 is the first year for reporting Industrial Land, which has been included in the 2015 midyear total, but it excluded from the 2014 midyear total

The information in this release is provided to the REALTORS® Association of Edmonton by the Network Real Estate Intelligence and used with permission.

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The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927 , is a professional association of over 3,200 Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice.

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