Q1 Commercial Sales Slow Across Greater Vancouver—But Multifamily Deal Count Jumps 33%

Commercial real estate deal flow in the Lower Mainland cooled slightly to start 2026, with 327 transactions recorded in the first quarter, down 5.5 per cent from the 346 sales seen in Q1 2025, according to Commercial Edge data from Greater Vancouver Realtors. The total dollar volume slid further, dropping 15.3 per cent year-over-year to $1.864 billion from $2.200 billion. Andrew Lis, GVR chief economist and vice-president of data analytics, noted that most asset classes saw quarter-over-quarter declines in transaction counts, with industrial being the lone exception. The multifamily segment held nearly steady quarter-over-quarter at 20 to 21 deals, but posted a 33 per cent jump compared to the same period last year. The figures set a subdued tone for the year, aligning with GVR’s forecast of essentially flat commercial transaction growth across 2026.