In April the North Shore real estate market witnessed a surge in new listings, with 886 properties available for sale. This represents the highest amount of available inventory in this area since May 2021, a welcome respite for buyers who have long grappled with inventory scarcity in the preceding years. 

April saw 318 transactions across the North Shore. Notably, this represents the highest level of sales activity we have seen this year, and the highest number of sales since June of 2023. Against this backdrop, the average sales price for the month was $1,482,830 in North Van and $2,889,564 in West Van, down 0.8% and 3.1% respectively when compared to 2023. 

Looking at the bar chart above you can see that every market area shows a significant rise in listings while sales have stalled. Note how close the “New Listings” and “Total Listing” numbers in North Vancouver are. The the market will correct itself and prices will have to come down to engage buyers.


If you own recreational, investment, or other secondary property and are considering selling or passing the property to your children, you should consider doing so prior to the proposed changes to capital gains which come into effect June 25th.

The 2024 budget proposes to raise the inclusion rate for capital gains to 66.7% for gains exceeding $250,000 that are realized on the sale of secondary properties. The inclusion rate of 50% remains unchanged for gains of less than $250,000. Title must transfer prior to the June 25th deadline to avoid exposure to the new tax rates.

Not to worry if you are thinking of selling your principle residence, as these properties remain exempt from capital gains.

If you have questions about the changes coming and how it may affect you, contact us soon. The June 25th deadline is just around the corner.

It continues to be an active year. Contact me today to get started!

-Dan Pigott
604-862-4124  |


Dan discusses why there is reason to pause and review what rate cuts actually mean.


As buyers anxiously await the news of rate cuts to motivate their launch back into the market, there is reason to pause and review what that actually means.

I spoke with Nick Shlyakhov of the Mortgage Architects to ask how much of an effect a 0.25% rate cut has on a buyer’s monthly payments. He explained that with a variable mortgage, this drop will only lower monthly payments by about $15/month for every $100,000 borrowed. 

The table below shows what your monthly payments would be if your mortgage was $100,000, your term length was 5 years, and your amortization was over 25 years: 




Current Rate












The important thing to consider is what happens to housing prices when the rates drop? The market will heat up - buyers will be vying for homes, initiating multiple offers, and properties will be selling over the asking price.

At the moment, housing prices have inched up 4.6% compared to last year. Sales have increased 9.6% and new listings have grown 20.3% as this optimism builds. 

The market is heating up. Contact us today to crunch the numbers before the change in rates and to get a jump on the market now.

It is going to be an active year. Contact me today to get started!



What a team! If you want any assistance in selling or buying a home, townhouse or condo look no further! With a time crunch to sell my condo and then be able to purchase a home I so desperately wanted within weeks Dale and Dan made it happen.

Listen to everything that Dale tells you and your home will go from cluttered and lived in for years to a show home. I know because that is what Dale did for me. Her experience and knowledge is priceless. Dan is efficient trustworthy and at the same time caring. This team goes above and beyond for their clients.

At the same time my kid also needed to buy a condo once my place sold and again with a tight time line. They had a small budget to work with and with Dale’s drive to get them a place that was safe and well maintained Dale found a place and in less than two weeks the deal on a condo was done and exactly what my kid wanted.

My place sold on January 22nd I purchased my new home January 26th and my kid purchased their place February 16th. It was amazing! Dale and Dan got us through all the nervousness and worry with kindness, caring and understanding. Such professionals. Amazing!

-Molly McDonald


The 2024 market is already on the “move”.

The Greater Vancouver Real Estate market has demonstrated an impressive trajectory as it kicked off the year with notable growth. Home values surged by $10,320 monthly and an impressive $84,637 year-over-year, resulting in an average home sale price of $1,252,392. The surge in yearly sale prices coincided with a remarkable 37.5% increase in overall market activity, while inventory saw a 2.4% uptick.

The real estate landscape in 2024 has started on a positive note, and industry experts predict a further acceleration in market conditions in the latter half of the year. This creates a timely opportunity for prospective home-buyers to make their move before the market potentially witnesses a resurgence of multiple offers and frenzied activity.

Buyer’s should be cautioned though, attempting to time a move to mortgage rate cuts may not be wise. No one can predict future interest rates, including experts like Governor of the BoC, Tiff Macklem. For first-time home buyers, it’s important to recognize that there’s no crystal ball for mortgage rates. Getting caught up in hype and uncertainty is risky. When buying your first home, prioritize certainty in your personal life and housing needs to avoid selling earlier than planned, potentially at a loss.

I can talk you through a list of helpful tips to make your home move ready and review our real estate stats to evaluate where your home currently stands in this market. 

It is going to be an active year.

Contact me today to get started!

-Dan Pigott



Happy New Year and welcome to 2024!

Looking ahead to 2024, there is a growing sense of optimism in the Greater Vancouver real estate landscape. As the market anticipates potential interest rate decreases, the outlook is promising. The resilience displayed in 2023, coupled with projections from industry experts, paint a picture of a market poised for continued growth. 

Royal LePage’s market survey for 2024 predicts that home prices will make incremental gains in the first half of the year. Those gains will be followed by larger price increases in the second half of the year, spurred by expected interest rate cuts from the Bank of Canada after a historic rate-hiking cycle.

“We see 2024 as an important tipping point for the national economy as the majority of Canadians acknowledge that the ultra-low interest rate era is dead and gone,” Royal LePage CEO Phil Soper said in a press release on the research. 

“Based on this forecast, by the end of next year, home prices will have essentially climbed back to their pandemic peak, reached in the first quarter of 2022.”

With the spring market looming, now is the time to start preparing your home if you are thinking of selling. 

I can talk you through a list of helpful tips to make your home move ready and review our real estate stats to evaluate where your home currently stands in this market. 

It is going to be an active year.

Contact me today to get started!

-Dan Pigott



September Update - Affordability in the Housing Market

Affordability in our real estate market has long been a top of mind issue, exacerbated now by the rise in rates. We have discussed the inventory shortage over the past several months and many have asked, “why not simply build more homes to solve the problem?” 

Not only does the shortage of developeable land and cost to acquire it pose major hurdles, a recent study by the Urban Development Institute in Vancouver shows that taxes and fees to develop can be prohibitive for many smaller developers. The report looked at the costs of an 800 sqft. condo in Vancouver in 2023 and contributing factors to the unit’s staggering average price of $1,120,000. Fees and taxes per unit were 29.25% of the imagined condo’s cost. Keep in mind these do not include the cost to build or for land acquisition. (Click here to see the report)

 While the Vancouver market is already wildly out of price for many, developers will always look at their bottom line, keeping their prices as high as the market will allow. The only way forward in this situation would be to flood the market forcing prices down, and while the expense to build is so high, this scenario seems an unlikely solution.

 Creative home-ownership may be a way forward. 

 Rising values have led to an increasing number of homeowners opting to become co-owners. This can take various forms, whether it be splitting a single family dwelling with friends, building a laneway house, or buying duplexes for extended families to live next door. Census data shows that multi-generational households are now the fastest growing household type in Canada. In cases where home-buyers cannot afford to purchase on their own, they are combining their buying power with their parents, children, siblings or friends. (Click here to read the Royal Lepage article)

 Interested in learning more about The Urban Development Institute report? 

Call us today for more info and market updates!

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