I use the term land “prices” rather than land “values” as land has no intrinsic value as in a development with infrastructure and buildings.
Having just completed an industrial land search from Mississauga to Hamilton, and planning further searches for specific clients, I can say that prices are climbing and recent deals are really eye opening.
High density residential land may be the most interesting with a recent transaction in downtown Toronto at $148,000/ unit – $67,000,000 for 0.5AC!.
Commercial land pricing in GTA west ranges from $750,000/AC to well over $2,000,000/AC based on proximity to high traffic areas.
Having said that if you have commercial land for sale be prepared to list for a year at a time, as the right buyer may be hard to find. Days on Market for commercial land can be 1 year or more.