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A house 'sold' sign is shown in Oakville, Ont., Monday, July 23, 2012. (Richard Buchan / THE CANADIAN PRESS)

The Real Estate Board of Greater Vancouver says commercial sales remain below the pace of previous years.

The board says sales in the Lower Mainland continued to decline in the third quarter of 2019.

It says there were 405 commercial real estate sales in the region, a 32 per cent decrease over the same period last year and a 42.3 per cent decline from the same period in 2017.

It says the total dollar value of commercial real estate sales in the Lower Mainland was 1.8-billion-dollars in Q-3 of 2019, which represents a nearly 60 per cent decrease from the 4.7-billion-dollars sold in Q-3 of 2018.