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10 Family Friendly Ideas for Hosting a Spectacular Canada Day Barbeque

It's that exciting time of the year again when we celebrate the best country in the world! Some of you may have already planned a barbecue for this weekend while some of you may be thinking of doing one.

It's the perfect opportunity to gather your loved ones, enjoy delicious food, and create lasting memories. In this blog post, we'll share 10 family-friendly tips to help you host an unforgettable Canada Day barbeque that will have everyone waving their flags with pride. Let's fire up the grill and get the party started!

Plan a Festive Menu

Kick off your Canada Day barbeque by planning a menu that showcases Canadian flavours. Include classic favourites like maple-glazed ribs, poutine, butter tarts, and grilled salmon. Don't forget to offer vegetarian options and some delicious Canadian-inspired beverages.

Decorate with Canadian Flair

Set the festive mood by decorating your outdoor space with Canadian-themed decor. Hang Canadian flags, use red and white tablecloths, and incorporate maple leaf accents throughout the area. You can also create DIY centerpieces with mini Canadian flags and fresh flowers for an extra touch.

Get the Grill Going

Fire up the grill and let the mouthwatering aromas fill the air. Involve the whole family in grilling duties, from flipping burgers to basting chicken. This not only shares the workload but also creates a sense of togetherness and excitement as you prepare the delicious barbecue feast.

Organize Backyard Games

Keep everyone entertained with a variety of backyard games that celebrate Canada Day. Set up a friendly game of Canadian-themed trivia, organize a bean bag toss with maple leaf targets, or have a relay race where participants carry a baton in the shape of a hockey stick. These activities will add an extra dose of fun and friendly competition to your cookout.

DIY Canadian Crafts

Engage the kids (and adults!) with some fun DIY Canadian crafts. Set up a craft station where they can create their own Canadian flags, paint rocks with maple leaf designs, or make red and white friendship bracelets. These crafts can also double as party favours for your guests to take home as mementos.

Create a Canadian Playlist

Set the perfect soundtrack for your Canada Day cookout by curating a playlist of Canadian artists and iconic Canadian songs. Include hits from popular Canadian musicians like Bryan Adams, Celine Dion, and Drake. Let the music set the festive ambiance and get everyone in the spirit.

Offer Maple-Inspired Desserts

No Canada Day celebration is complete without indulging in some maple-inspired desserts. Serve up delicious treats like maple walnut ice cream, maple sugar cookies, or maple butter tarts. These sweet delights will satisfy everyone's sweet tooth and add a touch of Canadian flavor to your cookout.

Sparkler Show

As the sun sets and darkness falls, light up the night sky with a sparkling show of fireworks or sparklers. Ensure you follow safety guidelines and provide a designated area for enjoying the display. It's a fun way to end the evening and create unforgettable memories for the whole family.

Capture the Moments

Designate a photo booth area where everyone can pose with Canadian-themed props and accessories. Set up a camera or provide disposable cameras for guests to capture candid moments throughout the event. These photos will serve as cherished memories of your fantastic Canada Day barbeque.

Express Gratitude

Take a moment to express gratitude for the country we call home. Encourage your family and guests to share what they appreciate most about Canada. It's a meaningful way to foster a sense of pride, unity, and appreciation for the land we celebrate on Canada Day.

Have a Great Canada Day!

With these 10 family-friendly tips, your Canada Day barbeque is sure to be a spectacular celebration filled with delicious food, laughter, and cherished moments. Embrace the spirit of Canada and enjoy the company of your loved ones as you create unforgettable memories together. Happy Canada Day!


The biggest driving force for the Vancouver Real Estate Market in 2022 was rising mortgage rates. These rising rates led to a drop in affordability, forcing many buyers to the sidelines.

For those that could still afford to buy the uncertainty of how much rates could rise by and how much prices could potentially drop by led them to put their buying plans on hold and move to the sidelines as well.

As a result, sales plummeted and prices dropped considerably for some areas and property types, and moderately for others.

So what can we expect in 2023?

Should buyers continue to wait or should they move forward?

In this market report, I'm going to answer these questions and share five factors that will have a big impact on the Vancouver Real Estate Market going forward. 

Factor One: Mortgage Rates Stabilizing

Throughout 2022 the Bank of Canada raised their overnight rate at a record setting pace to battle inflation. These rising rates dominated the news headlines, leading many people to assume that all mortgage rates were also rising at the same pace.

But that was not the case.

During that time, the variable rate increased by 4.25%, while the fixed rate only increased by a little bit over 2%. The reason why the variable rate and the fixed rate did not rise at the same pace is because only the variable rate moves up and down with the overnight rate, while the fixed rate moves up and down with government bond yields.

Also, the variable rate continued to rise throughout 2022, while the fixed rate stopped rising in the fall and has actually come down a little since then.

I'll talk more about the fixed rate in a minute, but for now, let's get back to the overnight rate.

The Bank of Canada recently made a big announcement stating that they would be putting the overnight rate hikes on hold because their plan to reduce inflation is working.1

What impact will this have on the real estate market?

The latest announcement will provide stability for the variable and the overnight rates and will help ease the uncertainty that was keeping many buyers out of the real estate market. This recent development, along with a lowered fixed rate, should help increase the activity as buyers that were waiting on the sidelines reenter the market.

Factor Two: Price Stability

The Vancouver Real Estate Market absorbed the drop in mortgage affordability throughout 2022. Sale prices declined from their peak and started to stabilize for the most part in late fall.

The reason why prices started stabilizing in the fall is because many buyers decided to go with the fixed rate mortgage throughout 2022 and the fixed rate stopped rising in the fall.

Many people didn't realize this because most of the focus was on the variable rate. But now that the variable rate should remain stable, the common consensus will be that prices should also remain stable.

What impact will this have on the real estate market?

Since perception can be reality, the buyers that didn't realize that prices were starting to stabilize in the fall will likely move forward now, leading to an increase in activity.

Factor Three: Iventory

When it comes to inventory, there are three things that I want to point out.

One, in the latest news headlines, they talked about how inventory was up 32% compared to last year.2 But what you need to understand is this is based on the total of 17 different cities that are covered by the Real Estate Board of Greater Vancouver.

When it came to the City of Vancouver, inventory was actually down 2% compared to last year.

Two, the current inventory levels are the second lowest compared to the last three times we had a major downturn in the Vancouver Real Estate Market in 2008, 2016 and 2018.

And three, we have a lot of overpriced properties on the market.

I'll share an example to illustrate my point using older detached homes in the Hastings Sunrise neighbourhood.

3454 Pandora Street, sold for 1,475,000 on September 27, 2022. This sale price was within the market value range for that type of a home at that time.

There was another similar home that just sold in January that also sold within that same market value range. This shows support for how prices have remained stable since fall.

But when we take a look at the current inventory of similar homes in the area, you can see that they're all overpriced.

So not only do we have limited inventory, which is a common theme in the City of Vancouver, but plenty of that limited inventory is overpriced.

What impact will this have on the real estate market?

If we continue to have limited inventory, the increase in activity that we may see due to mortgage rate stabilizing and prices stabilizing may lead to an increase in competition.

Now, I know that the NDP has brought in the Housing Supply Act and have a very ambitious plan for increasing the housing supply. I fully support the plan and I'm not questioning the genuineness of it, but I do have my doubts about its effectiveness and its execution.

Factor Four: Immigration

To help address major labour shortages across the country, the federal government has elevated their annual immigration targets over the coming years.3 Based on these targets, 2 million new permanent residents will be welcomed between 2022 through 2025.

That's a staggering increase from the already record setting 1.3 million that were brought in between 2016 to 2021.4

Why are the targets so aggressive?

Let's take a look at an eye opening stat. According to Stats Canada, in 1966, the number of people working compared to the number of people retired was almost eight to one. That ratio has been dropping quickly since and is expected to be at around three to one by 2027.5

So what impact will these targets have on the real estate market?

Although many new immigrants may not be able to afford to buy a home right away, the ones who have already been here for a number of years have held steady jobs and were able to save will continuously enter the real estate market.

Also, since the long term goal of the current immigration plan is economic growth, around 60% of all new residents will be brought in based on specialized skills and qualifications.6

The path to buying a home will be much shorter for these skilled additions. If the NDP are not able to execute their plan of increasing the housing supply in time, which I am very doubtful of, we could see an increase in demand and  competition.

Factor Five: Tougher Mortgage Qualification Rules

The Office of Superintendent of Financial Institutions, is making three new rule proposals that will make it even harder for borrowers to qualify for a mortgage.7 The proposals will be open for comment until April 14.

Although it's not clear if all three proposals will be adopted but once they are approved, they could be introduced as early as this year. I won't dive into the details of each one of these proposals, but I will provide a link below where you can get more information.

What impact will this have on the real estate market?

These new rules would reduce the amount of mortgage that some buyers can qualify for and potentially price them out of their preferred properties. Prior to these rules being introduced, we could see an increase in activity as these buyers rush to get into the market, which could lead to increased competition.

Should Buyers Continue to Wait or Move Forward?

All of the factors that I've brought up here will essentially lead to an increase in activity, demand and competition.

Our advice to buyers would be to move forward now to get ahead of that potential competition. 

Also, prices have come down from their peak creating some really good opportunities. But please keep in mind that "good opportunities" is a relative term.

When it comes to the real estate market in the City of Vancouver, a good opportunity doesn't get any better than being able to buy at market value without having to compete with too many buyers during a time when the market is down.

Since inventory is limited for certain neighbourhoods and property types, those good opportunities may also be limited. This could lead to some upward pressure on pricing due to increased demand and competition. 

This is why it's essential for buyers to act quickly and take a close look at the inventory for their preferred property type and neighbourhoods. 

Be Market Wise. Monitor What Matters so that you can Make Informed Decisions.

If you're thinking about buying but don't know where to start, please click on the here to get tips on how to save time and money and how to identify good buying opportunities.

If you're thinking about selling and don't know where to start, please click here to get tips on how to save time and money and how to maximize the sale price of your home.

Or if you prefer, you can call, text, or email us. We promise to provide an informative, pressure-free conversation.

Thanks for watching and have a great day.


1. Global News


2. CBC News


3. Government of Canada


4. Government of Canada


5. Fraser Institute 


6. Daily Hive


7. Canada Mortgage Trends



Many property owners in Vancouver recently received their 2023 BC assessment notices.

But when it comes to buying and selling real estate, are these assessments an accurate representation of market value? Should buyers and sellers rely on them when evaluating properties for the purposes of making an offer or coming up with a list price?

In this report, I'm going to address these questions and also share some sales so that you get a chance to do a side by side comparison of the most recent assessments and actual sale prices.

Main Purpose of Property Assessments

The main purpose of assessments is to provide assessed values to entities such as Municipal Governments, Regional Districts, the Ministry of Education and the Ministry of Health, so that they can use those assessed values to raise money through property taxes to fund services such as public education, health care and community services.

BC assessment states that the fairest way to distribute property tax burdens is by using market values, and as such, they generate assessments based off of what they feel is fair market value. Even though BC assessment agents are doing their best to calculate fair market values, they are not calculating them for the purposes of buying and selling.

In my opinion, buyers and sellers should not be relying on assessments as market values because there are a number of challenges and limitations that affect their accuracy from a buying and selling perspective.

Challenges and Limitations to the Accuracy of Assessments as Market Value

One, a vast majority of the assessments are done from sitting at a desk. It's extremely challenging to get a feel for a property and a neighbourhood without walking through it. I have never done an evaluation for anyone without visiting the property.

There are many factors outside of square footage and the number of rooms that can affect the value of a property, such as updates, the quality of updates, the overall condition of the property, the layout, the number of outdoor spaces, landscaping, just to name a few.

The same goes for lot sizes and locations. Lots can be of the same size but still have major differences, such as facing a park, facing the back of another home, not having a back lane, being on a slope or facing a T intersection.

Two, BC assessment agents are not actively working with buyers and sellers, nor are they working at real estate offices. The Vancouver Real Estate Market is very dynamic. Things change quickly. Online data doesn't account for these immediate shifts in consumer behaviour and sentiment that happen in real time.

And three, even if these assessments were reliable, from a buying and selling perspective, they're calculated as of July 1 of the previous year.

By the time they're posted, they're already six months old. And by the time most buyers and sellers become active in the spring market. They're nine to ten months old.

But the key word here is reliable. Let's take a look at a few sales examples of properties that sold within a few weeks of when they were assessed.

Comparison of Assessment Amounts vs Actual Sale Prices

303 at 111, East First Avenue

Assessment as of July 1st/22 - $601,000

Sale price on July 8th/22  - $645,000

Sold for $44,000 above assessment.

Had the seller relied on the assessment as market value, they would have lost out on $44,000.

Had the buyer relied on it as market value, they would have thought that the property was overpriced, would have passed on it, and lost out on an opportunity.

224 Woodstock Avenue

Assessment as of July 1st/22 - $1,664,000

Sale price on July 21st/22 - $1,482,000

Sold for $182,000 below assessment.

Had the buyer relied on the assessment as market value, they would have overpaid for the property by

Had the seller relied on the assessment as market value, they would have thought that they were under selling. They would have passed on the offer, not have sold and missed out on the opportunity to move forward.

6823 Killarney Street

Assessment as of July 1st/22 - $2,616,000

Sale price on July 23rd /22 - $2,735,000

Sold for $119,000 above assessment.

454 at 250 East 6th Avenue

Assessment as of July 1st/22  -  $676,000

Sale price on July 13th/22    -   $640,000

Selling for $36,000 below assessment.

As you can see, there was quite a difference between the assessed values and the sale prices of some of these properties.

Not all properties will follow the same pattern though, and there may be some properties that will sell for close to assessment.

The point of sharing these sales was to show you the costs and consequences that buyers and sellers may undertake if they rely solely on assessment values as market values.

In Closing

Please note I am not trying to disparage BC assessment agents. They are working extremely hard within the limitations that they have, and their goal is not to provide buyers and sellers with market values for the purposes of buying and selling.

My advice to those of you who are considering buying or selling is to not make plans based on assessed values.

Be Market Wise. Monitor What Matters so that you can Make Informed Decisions.

If you would like to find out how much your property is worth in today's market, please click here

If you are thinking about buying or selling but don't know where to start, please click here for a complementary strategy session. 

Or if you prefer you can call, text, or email us. We promise to provide you with an informative, pressure free conversation.

Thanks for reading and have a great day.

**This page may contain copyright content not authorized for use by BC assessment. The content used here falls under the fair use guidelines articulated in Section 29 of the Copyright Act of Canada.



When it came to the real estate market in the City of Vancouver for the month of October, which neighbourhoods were the Most Favourable to Buyers and which neighbourhoods were the Most Favourable to Sellers?

In this market report, I will be answering that question by sharing the Top 3 Neighbourhoods for Buyers and the Top 3 Neighbourhoods for Sellers for the Condo, Townhome, and Detached Home Markets on the East Side and the West Side of Vancouver.

I'll also share some important tips that you need to keep in mind when analysing inventory and assessing neighbourhoods as buyers markets or sellers markets.

Basis of Assessment of Neighbourhoods

I will be assessing neighbourhoods as the most favourable to buyers or sellers based on the sales to active listings ratio. The sales to active listings ratio compares demand to inventory levels and tells us if we're in a buyer's market, a balanced market, or a seller's market.

For those of you who have already seen my videos, you are probably already familiar with the definition and details of this ratio and why it's one of the most important statistics that you should be monitoring.

For those of you who are not familiar with this ratio, please here to get detailed information.

With that being said, let's take a look at which neighbourhoods were the most favourable to buyers and which neighbourhoods were the most favourable to sellers.

East Side Condo Market

Top 3 Sellers Markets

Main       300%

Fraser     166%

Renfrew    80%

Top 3 Buyers Markets

South Vancouver   0%

Hastings                  0%

Killarney                  0%

West Side Condo Market

Top 3 Sellers Markets

Mount Pleasant   100%
Kitsilano                  47%
SW Marine              33%
Top 3 Buyers Markets

South Cambie   0%
Oakridge            3%
Coal Harbour    4%

East Side Townhome Market

Top 3 Sellers Markets

Champain Heights  50%
Mount Pleasant       33%
Killarney                    33%

Top 3 Buyers Markets

Collingwood     0%

South Marine   0%

Strathcona        0%

West Side Townhome Market

Top 3 Sellers Markets

Fairview                 44%
Kitsilano                25%
Mount Pleasant   25%
Top 3 Buyers Markets

Downtown       0%
Oakridge          0%
Shaughnessy   0%

East Side Detached Homes Market

Top 3 Sellers Markets

South Marine         33%
Killarney                  29%
Hastings Sunrise   26%
Top 3 Buyers Markets

Knight              2%
Victoria            3%
Collingwood   4%

West Side Detached Homes Market

Top 3 Sellers Markets

Mount Pleasant   25%

Kerrisdale             23%

Southlands           21%

Top 3 Buyers Markets

University              0%
Shaughnessy        4%
South Granville    4%

At this point, it should come as no surprise that there are plenty of neighbourhoods that are favourable to buyers. But as you can see, even though the real estate market has shifted dramatically over the last six months, there are still many neighbourhoods that are also favourable to sellers.

Now, that doesn't mean that sellers are getting multiple offers and prices that are above market, but what it does tell us is that many sellers are still able to sell at market prices and move forward with their plans.

Please keep in mind that these sales to active listings ratios can fluctuate from month to month. And there's three things that you need to keep in mind when assessing neighbourhoods as buyers markets or sellers markets when it comes to inventory.

Three Things to Keep in Mind When Assessing Buyers and Sellers Markets

Limited Inventory

One, some neighbourhoods will have very limited inventory, which will lead to larger fluctuations in the sales to active listings ratio. The reason for that is, with limited inventory, there's limited variety of options available to buyers.

In some months, those options will match exactly what a buyer is looking for, which will lead to higher sales to active listings ratios. But in other months, it will not match what buyers are looking for at all, which will lead to zero sales in a very low sales to active listings ratio.

Overpriced Inventory

Two, some neighbourhoods will have overpriced inventory. And even though demand exists, the lack of inventory that's priced at market will prevent buyers from moving forward and will make a neighbourhood look like a buyer's market, even though in reality it's an overpriced market.

Presale Inventory

And three, when it comes to the condo and townhome market specifically, there's another point that you need to keep in mind. In any given month, certain neighbourhoods can have a large portion of their inventory consisting of presale listings.

Since presale listings will not be ready to move into for at least a year to three years down the road, it may not be suitable for a lot of buyers that are looking to move in within the next six months.

Since it's not suitable for them, the number of sales can drop and lead to a lower sales to active listings ratio, making it seem like that neighbourhood is a buyer's market.

In Closing

It's really important to monitor your areas of interest for multiple months so you can account for the month to month fluctuations and properly assess the inventory.

Be Market Wise. Monitor What Matters so that you can Make Informed Decisions.

If you would like to be kept up to date with the real estate market in the City of Vancouver, along with tips and advice to help you make informed decisions, please click here to subscribe to my youtube channel

If you are thinking about buying or selling but don't know where to start, please click here for a complementary strategy session. 

If you are interested in knowing what your home is worth in today's market, please click here

Thanks for reading and have a great day!

***Neighbourhood rankings were based off of sales to active listings ratio data for the month of October 2022, as of November 4th 2022. Data provided by the Real Estate Board of Greater Vancouver. Data deemed reliable but not guaranteed.***


At this point, it should come as no surprise that the real estate market in the City of Vancouver has seen a strong decline in the sales activity since it peaked earlier this year. It should also come as no surprise that prices have come down considerably for some property types and neighbourhoods, and moderately for others.

But with that being said, are we starting to see signs of change and stability?

In this market report, which is specific for the City of Vancouver, I will be talking about which markets may be showing signs of change and which markets may be showing signs of stability, based on an important statistic that you should be monitoring.

I'll also provide important insights and tips about this statistic.

Sales to Active Listings Ratio

If you watched my market report video in the month of July, you'll remember that I said one of the most important statistics that you should be monitoring is the sales to active listings ratio.

The reason why this statistic is important is because it compares sales to inventory levels, tells us the
rate at which homes are selling, and in turn tells us if we're in a buyer's market, a balanced market, or a seller's market.

Based on the guidelines provided by the Real Estate Board of Greater Vancouver, a buyer's market has
a sales to active listings ratio of below 12%, a balanced market has a ratio of between 12 to 20%, and a seller's market has a ratio of above 20%.

Consecutive months of a buyer's market can lead to downward pressure on pricing, while consecutive months of a seller's market can lead to upward pressure on pricing. But the key word here is can.

Let me explain.

Just because a neighbourhood is a seller's market, that doesn't mean that prices are rising. Even if that neighbourhood has consecutive months of being a seller's market, that also doesn't mean that prices will necessarily be rising.

One of the key factors in determining if prices will rise or fall is the rate at which the sales to active listings ratio is climbing or falling and sustaining from month to month.

If the ratio is climbing significantly and consistently from month to month, or remaining consistently high from month to month, that will lead to upward pressure on pricing. If the ratio is falling significantly and consistently from month to month, or remaining consistently low from month to month, that will lead to downward pressure on pricing.

Based on this information, let's take a look at what's been going on with the condo, townhome, and detached home markets on the East Side and the West Side of Vancouver over the last few months.

Vancouver East Condo Market

The sales to active listings ratio fell aggressively from March to April. It continued to fall at a strong rate from April to July, but since July it's been stable. It's been stable and consistent for three months and is currently a seller's market.

Vancouver West Condo Market

The sales to active listings ratio fell aggressively from March to April. It continued to fall at a strong rate from April to June, started to decline at a lower rate from June to July, and actually moved up in August, but then back down in September. Although its rate of decline has lowered over the last three months compared to the previous four, it's still experiencing some fluctuation. It's currently a balanced market.

Vancouver East Townhome Market

There was a strong decline from March to April, an even stronger decline from April to May. Although the rate at which it's continuing to decline has lowered considerably from month to month, since May, it's still declining and not showing signs of stabilising. It's currently a balanced market.

Vancouver West Townhome Market

The sales to active listings ratio fluctuated down and up over the last six months, with the steepest decline taking place between June and July. The overall direction has been down, and it's not showing signs of stability. It's a currently a balanced market.

Vancouver East Detached Homes Market

There was a strong decline from March to April. It continued to decline at a lower rate from April to July,
and it's actually been moving up for the last three months. It's currently a balanced market.

Vancouver West Detached Homes Market

There was a strong decline in the sales to active listings ratio from March to April. It continued
to decline from April to July. It moved up in August and then down slightly from August to September. Over the last three months, it's moved up slightly and is somewhat stable. It's currently a buyer's market.

As you can see when it comes to the sales to active listings ratios not only have a majority of the six markets seen a change in the rate of decline over the last three months, a couple of them are showing signs of stability while one is actually on the rise.

Please note, though, that this market report was for the general condo, townhome, and detached home markets only. And just as there were differences between these markets in the rate of change for the sales to active listings ratio. There will also be differences within the neighbourhoods of each of these markets.

Since we are seeing changes, you should definitely be keeping a close eye on the neighbourhoods and the property types that are the most important and the most relevant to you.

Be Market Wise. Monitor What Matters so that you can Make Informed Decisions.

If you would like to be kept up to date with the real estate market in the City of Vancouver as we continue to move through this transition, please click here.

To get a copy of the stats and graphs that were covered in this report, or if you would like to get
detailed information about specific neighbourhoods and property types, please click here.

Or if you prefer, you can call me, you can text me, or you can email me. I promise you that I'll provide you with an informative pressurefree conversation.

Thanks for reading and have a great day.

**Stats for this report were based on sales to active listings ratio data from March 2022 to September 2022, as of October 3rd, 2022. Data provided by the Real Estate Board of Greater Vancouver. Data deemed realiable but not guaranteed. 



Now that the property prices have come down in the City of Vancouver, how much further down will they go?

This is a question that a lot of my clients are asking, and you're probably asking as well. And this is why I have put together this market report, which is specific for the City of Vancouver.

In this report, I will be talking about how much the mortgage affordability has dropped by since the rise in interest rates. I'll talk about some of the pricing forecasts that have been circulating through the news. And I'll also talk about what we can expect with prices going forward for the Condo, Townhome, and Detached Home Markets on the East Side and the West Side of Vancouver.

Mortgage Affordability

Due to the recent rise in interest rates, the maximum amount of a mortgage that a buyer can qualify for has dropped by anywhere between 15% to 20% on average. Due to this drop in affordability, there has been a lot of pricing forecasts that have been circulating through the news. So how much of a price drop are these forecasts projecting? Let's take a look at a couple of the most recent ones.

Pricing Forecasts

The economist from Dejardins is predicting that home prices will decline across the country by 20% to 25% by next year, compared to where they peaked earlier this year. The economist from TD is projecting the same as well, and also adding that the declines will be steeper in BC and Ontario.

But there are a few things that you need to note about these forecasts.

One, they are referencing a large geographical area. Dejardins is referencing all of Canada and although TD has narrowed it down to BC, it's still not specific enough to be relied upon.

Two, these projections are talking about prices coming down from their peak, whereas some of the recent news headlines are making it seem like they'll be coming down by 25% from this point going forward.

The reason why this distinction is important is because three, prices have already come down from their peak, and in some neighbourhoods and cities across the Lower Mainland, they've already come down by 20% to 25%.

So how about the City of Vancouver? We've already seen the prices come down from their peak for many of the neighbourhoods across the city. But will all the neighbourhoods and all the property types come down by 20% to 25%, as projected by these economists?

In trying to answer that question, let's take a look back at a time not too long ago when we had a similar drop in mortgage affordability of between 15% to 20% and how that affected prices.

Mortgage Stress Test

Back in 2018, the mortgage stress test was introduced which applied to all mortgages and still exists today. The goal of the stress test was to make sure that a buyer would be able to handle a rise in the interest rates by making them qualify at two percentage points higher than the mortgage rate that they were given.

This requirement caused the maximum amount of a mortgage that a buyer can qualify for to drop by 15% to 20% on average. This is very similar to the current drop in mortgage affordability that we're dealing with due to the interest rates rising by 2.25% over the last six months.

So how much did the prices come down by in the City of Vancouver for the Condo, Townhome, and Detached Home Markets after the stress test was introduced? 

Benchark Price Changes after Stress Test was Introduced

Vancouver East Condo Market - Dropped by approximately 6%.

Vancouver West Condo Market - Dropped by approximately 7%

Vancouver East Townhome Market - Dropped by approximately 7%

Vancouver West Townhome Market - Dropped by approximately 7%

Vancouver East Detached Homes Market - Droppey by approximately 11%.

Vancouver West Detached Homes Market - Dropped by approximately 19%

So why didn't most of the markets in the City of Vancouver come down in price by the same percentage as the drop in mortgage affordability?

There's a few reasons for why that didn't happen.

One, the number of new listings declined, which reduced the supply and reduced the impact of downward pressure on pricing.

Two, some of the buyers were able to make up for the drop in mortgage affordability by putting down more money, by either tapping into their savings or by getting help from their parents, or by doing a combination of both.

The reason why the condo and townhome markets were not as effected is that when mortgage affordability dropped, those that were looking to buy a home moved over to a townhome and those that were looking to buy a townhome moved into a bigger two bedroom condo.

When it came to the detached homes market, the reason why the West Side was more effected than the East Side is because the West Side has higher price points and a few number of buyers to begin with. When mortgage affordability dropped, this number got reduced even further and thereby increasing the impact on pricing.

So what are my thoughts on pricing in the City of Vancouver going forward?

Vancouver Real Estate Prices Outlook

Well, in my opinion, since we are dealing with a mortgage affordability drop that is very similar to what we experienced in 2018, we should see similar effects on the Condo, Townhome and Detached Home Markets as we saw in 2018.

This is provided that the interest rates don't rise significantly going forward. Even if they do rise, I expect the pattern on pricing to remain the same as it was in 2018, meaning that even though the mortgage affordability will drop a little bit further, not all markets will come down by that same percentage.

When it comes to the Condo and Townhome Market, they will be more protected than the Detached Homes Market. And when it comes to the Detached Homes Market, the East Side will be more protected than the West Side.

Please keep in mind that there will be some properties that'll drop by less and some that will drop by more than what we saw in 2018. The property types and neighbourhoods that will be the most vulnerable to the biggest price drops are the ones that experienced the greatest price gains compared to the rest of the city.

What we do know is that markets and interest rates are cyclic. Interest rates will eventually come down and markets will eventually move back up.

We've already seen the prices come down, and since not all neighbourhoods and property types will come down equally, especially based on what we saw in 2018, I strongly suggest that you start monitoring the neighbourhoods and the areas that are the most important and the most relevant to you.

Be Market Wise. Monitor What Matters so that you can Make Informed Decisions.

if you would like to be kept up to date with the real estate market in the City of Vancouver as we continue to move through this transition, please click here.

If you would like to find out how much properties are selling for or what the inventory levels are like, in your areas of interest, please click here.

Or if you prefer, you can call me, you can text me, you can email me, I promise you that I'll provide you with an informative pressurefree conversation.

Thanks for reading and have a great day.

**Stats for this report were based on the rolling 12 months HPI data between the peak of 2018 to the trough of 2019, as of Sept 17, 2022. Data provided by the Real Estate Board of Greater Vancouver. Data deemed realiable but not guaranteed. 


8 Popular Home Design Features for 2022

There’s a lot to consider when selling your home, from market conditions and appraisals to where you’ll go next. Don’t forget, however, the importance of design. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.

Updating your home design is one way to do that. Changes like eco-friendly fixtures or upgraded siding can add value to your home now and be highlighted when you market it for sale later. To get the most out of your updates, focus on these popular home design features that will wow buyers in 2022.

Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate a property, give us a call. We can help you realize your vision and maximize the impact of your investment.

Eco-Friendly Fixtures

Canada’s largest demographic, millennials, has been a driving force in the country’s real estate market for the past few years. One thing that remains top of mind for this cohort is sustainable living features. A recent Deloitte survey found that one-third of millennials initiate or deepen their consumer investment in products or services that help the environment—this also includes the houses they choose to live in.1

Here are a few eco-friendly design features that will be attractive to these millennial buyers in 2022. Bonus: they can net a significant return on investment (ROI) for you, as a seller, too.

Energy-Efficient Windows: Windows and doors account for up to 25 percent of home heat loss, according to nrcan.gc.ca.2 Therefore, upgrading to energy-efficient windows can help homeowners save money. 

Low-Flow Water Fixtures: National Resources Canada also recommends replacing your water-consuming fixtures like showerheads, toilets, and faucets with ones that have flow rates of about 7.6 L/minute, 4.8L/flush, and 4L/minute, respectively.3 If you want to take it a step further, ENERGY STAR® certified appliances like dishwashers and washing machines will also make a dramatic difference in water bill savings. 

Native Landscaping: Perhaps unexpectedly, another eco-friendly ‘fixture’ is native flora. Local greenery helps combat biodiversity loss, creates a better habitat for wildlife, and has a greater resistance to pests, according to HGTV.4 These benefits of native plants add to the eco-friendly appeal of your home. 

Wellness Retreat Nooks

As many of our homes became “all-purpose” territory for the entire family, interior zoning efforts were in full effect. From designated offices to closed-door playrooms, everyone needed their own space. Add in mental health concerns, competing schedules, and reduced access to health and wellness facilities, and the result is a huge prioritization of personal care spaces.  

At-home wellness amenities, which were once viewed as luxuries, are now on many homeowners’ must-have lists. Intrigue buyers and improve your quality of life in your home with reading nooks, spa-inspired bathrooms, and exercise or meditation spaces. Even if your house doesn’t have the square footage to section off an entire room for relaxation, making simple tweaks to natural light, air purifiers, and indoor plants can help you feel better in your home now, while enabling future buyers to see the opportunity for their own space.

Calming Paint Colours

Paint colors that produce a calming atmosphere will also be a key selling point in 2022. Soft earth tones and natural hues will prevail this year, including various shades of blue, green, brown, and beige. Recent research suggests steering clear of trendy paint colors in favor of a more classic palette to bring the feel of nature indoors in a subtle and soothing way.5

A survey of American homebuyers found that a certain paint colour was able to increase a home’s value by 1.6%.5 If we Canadians see even a 1% increase, that’s $7,208 more for the average home, which is priced at $720,850, according to the Financial Post.6 

A crowd-pleasing hue to refresh the walls with is BEHR’s 2022 paint colour of the year, known as Breezeway.7 This shade of green with silver undertones was created to mimic sea glass. As the BEHR website describes it, Breezeway “evokes feelings of coolness and peace, while representing a desire to move forward and discover newfound passions.”  

Outdoor Living Updates

Don’t forget to think about your yard when considering design changes for your home. As interiors become more productive, many Canadians are looking to the outdoors for a break. HGTV predicts the “exterior living room” trend will continue in 2022, so making outdoor upgrades in the spring when the ground thaws could reap serious benefits.8 Whether your exterior square footage looks like a balcony, small patio, or expansive yard, it only takes some imagination and effort to turn it into a comforting oasis. 

Front porches, in particular, are seeing a big revival, says Greenhouse Canada.9 Power-washing your siding; adding a fresh coat of paint on the door, brick, or floorboards; and finishing it off with some exterior lighting will go a long way in upping the curb appeal.10 Don’t forget to add window boxes, big planters, and young trees that require minimal maintenance but add more life to the space. 

Finish off the space with some comfortable outdoor furniture to make the outdoors as well-designed as the indoors. If you need help deciding how to update your outdoor area, let us guide you.

Designated Work Spaces

It may come as no surprise that after the pandemic is over, 80 percent of new teleworkers want to continue to work at least half of their hours from home, according to Statistics Canada.11 However, this desire needs to be weighed against the availability of space in a home. 

If you can, try turning a bedroom or den into a work-from-home office. When designing the space, make it both functional and aesthetically pleasing. Position a desk near the window for natural light, install a bookshelf unit, arrange a few succulents on the work surface, and hang a few framed posters or a cork bulletin board on the wall. You want the space to foster productivity as well as be a place in your home you enjoy spending time.

When you get ready to sell, we can help you highlight your designated workspace. Given the high demand for this design feature, it can help you interest more buyers and attract more competitive offers—if marketed creatively. 

Plus, Canadians who transitioned to working from home because of the pandemic may be eligible to claim a $500 deduction for home office expenses—making this renovation that much more feasible.12

Luxury Kitchen Retouches

The kitchen has always been a main focal point of interior design, and that’s no different in 2022. Families will always need this space to come together in their own homes. 

This year’s buyers want a kitchen with new upgrades and retouches, but you don’t have to renovate the entire kitchen to make an impact. If you’re not sure where to start, here are a few tips on how to create a kitchen that buyers will love without spending too much money on renovations:

Repaint the kitchen, keeping the calm and nature-inspired colours in mind that are most popular right now. Taking a kitchen from dark to light by painting cabinets and walls can make all the difference.

Update the hardware. These kitchen “accessories” stand out and add personality to an otherwise standard kitchen. 

Update light fixtures to bring in more light while also adding a fresh look and feel in the space. 

Unique Accent Walls

An accent wall gives a home character while balancing it with the calming feel of natural- and neutral-coloured walls. But, we’ve seen accent walls before, so bolder moves are expected for 2022. Here are some on-trend options that go above and beyond a solid-colour accent wall:

  • Jewel or metallic tones
  • Textured wallpaper
  • Painted ceilings
  • Built-in shelves
  • Wood paneling13
  • Sprawling wall tiles 14

If you’re planning to sell in the next year, talk to us before adding an accent wall. Depending on your target buyer, it may be a design feature that actually hurts your home’s value. We can run a free Comparative Market Analysis on your home to help you understand what would resell best in your neighbourhood.

Exterior Siding Updates

An exterior siding refresh can make an old home feel entirely new and have a big impact on its resale value. This primarily affects curb appeal, but it’s also an important factor in keeping interiors warm and protected from Canada’s harsh winters. The average cost for new siding ranges from $4.80 - $51.60 per square foot.15 That variation depends on which of the many siding materials you choose, from fiber-cement to brick, wood, vinyl, metal, or stone. 

While all these options can infuse the exterior with character and curb appeal, there are a few other factors to consider before taking on this kind of project. While brick adds more sophistication, it is on the pricier end and is susceptible to salt erosion, making it a less enticing option for those on the coasts. On the other end of the cost spectrum, vinyl is a very popular option that does not fade, is easy to maintain, and comes in many colour options.16 However, vinyl will crack over time after facing harsh Canadian winters. 

Give your home this simple and attractive facelift before putting it on the market. If you’re not sure how to get started yourself, our team can connect you with a trusted vendor to guide you through the process. 

Keep These Home Design Features on Your Radar

These design features can infuse personality into your home while helping to close the deal if you plan to sell. The average buyer knows just what they’re looking for in a space they plan to call home, so with some investment and foresight, you can give your house an edge over the competition—and boost resale value in the process. 

However, you don’t need to make all these changes to attract more buyers. We can help you determine which design features you should add to your home by sharing insights and tips on how to maximize the return on your investment. We can also run a Comparative Market Analysis on your home to find out how it compares to others in the area, which will help us decide what changes need to be made. Contact us to schedule a free consultation!



1. Deloitte 




3. National Resources Canada 


4. HGTV  


5. Zillow


6. Financial Post 


7. Behr 


8. HGTV  


9. Greenhouse Canada 



10. Toronto Sun 


11. Statistics Canada  


12. Government of Canada 


13. Accent Walls 


14. Accent walls  


15. Reno Assistance   


16. D’Angelo and Sons 



Seller’s Checklist: A Timeline to Prep Your Home for Sale

If you want to maximize your sale price, it’s important to prepare your home before putting it on the market.

Start by connecting with your real estate agent as soon as possible. Having the eyes and ears of an insightful real estate professional on your side can help you boost your home’s appeal to buyers. What’s more, beginning the preparation process early allows you to tackle repairs and upgrades that can increase your property’s value. 

Use the checklist below to figure out what other tasks you should complete in the months leading up to listing your home. While everyone’s situation is unique, these guidelines will help you make sure you’re ready to sell when the time is right. Of course, you can always call us if you’re not sure where to start or what to tackle first. We can help customize a plan that works for you.


Some home sellers want to plan their future move far in advance, while others will be required to pack up on very short notice. Whatever your circumstances, these first steps will help assure you’ll be ahead of the listing game.

Contact Your Real Estate Agent

We go the extra mile when it comes to servicing our clients, and that includes a series of complimentary, pre-listing consultations to help you prepare your home for the market.

Some sellers make the mistake of waiting until they are ready to list their home to contact a real estate agent. But we’ve found that the earlier we’re brought into the process, the better the result. That often means a faster sale—and more money in your pocket after closing.

We know what buyers want in today’s market, and we can help devise a plan to maximize your property’s appeal. We can also connect you with our trusted network of contractors, vendors, and service professionals, so you’ll be sure to get the VIP treatment. This network of support can alleviate stress and help ensure you get everything done in the weeks or months leading up to listing.

Address Major Issues and Upgrades

In most cases, you won’t need to make any major renovations before you list. But if you’re selling an older home, or if you have any doubt about its condition, it’s best to get us involved as soon as possible so we can help you assess any necessary repairs.

In some instances, we may recommend a pre-listing inspection. Although it's less common in a seller's market, a pre-listing inspection can help you avoid potential surprises down the road. We can discuss the pros and cons during our initial meeting. 

This is the time to address major structural, systems, or cosmetic issues that could hurt the sale of your home down the line. For example, problems with the frame, foundation, or roof are likely to be flagged on an inspection report. Issues with the HVAC system, electrical wiring, or plumbing may cause the home to be unsafe. And sometimes outdated or unpopular design features can limit a home’s sales potential. 

Remember, when you’re dealing with major repairs or renovations, it’s best to give yourself as much time as possible. Given rampant labour and material shortages, starting right away can help you avoid costly delays.1 Contact us so we can guide you on the updates that are worth your time and investment.


Once any large-scale renovations have been addressed, you can turn your attention to the more minor updates that still play a major role in how buyers perceive your home.

Make Minor Repairs

Look for any unaddressed maintenance or repair issues, such as water spots, pest activity, and rotten siding. This is the time to take care of those small annoyances like squeaky hinges, sticking doors, and leaky faucets, too.

Many of these issues can be handled by going the DIY route and using a few simple tools. Tackle the ones you can and be sure to call a professional for the ones you’re not comfortable doing yourself. We can refer you to local service providers who can help.

Remember that it’s easy to overlook these small issues because you live with them. When you work with us, you get a fresh set of eyes on your home—so you don’t miss any important repairs that could make a big difference to buyers.

Refresh Your Design

This is a great time to think about some simple design updates that can make a significant impression on buyers. For example, a fresh coat of paint is an easy and affordable way to spruce up your home. A recent survey of Canadian agents found that paint and landscaping were two upgrades that offered the highest return on investment.2 

HGTV landscape designer Carson Arthur agrees. According to Arthur, landscaping is the best place to invest your money and has the potential to increase your home’s value by up to 7%.3 If weather permits, lay fresh sod where needed, plant colourful flowers, and add some new mulch to your beds.

Even just repositioning your furniture can make a huge difference to buyers. A survey published by the International Association of Staging Professionals found that staged homes often sell faster and for more than their list price.4 We can refer you to a local stager or offer our insights and suggestions if you prefer the DIY route.

Declutter and Depersonalize

Doing a little bit of decluttering every day is a lot easier than trying to take care of it all at once right before your home hits the market. A simple strategy is to do this one room at a time, working your way through each space whenever you have a bit of free time. 

Start by donating or discarding items that you no longer want or need. Then pack up any seasonal items, family photos, and personal collections you can live without for the next few weeks. Bonus: This will give you a head start on packing for your move!


With just one week before your home is available for sale, all major items should be crossed off your to-do list. Now it’s time to focus on the small details that will really make your home shine. Here are a few key areas to focus on during this last week.

Check-In With Your Agent

We’ll connect again to make sure we’re aligned on the listing price, marketing plan, and any remaining prep. We will be there every step of the way, ensuring you’re fully prepared to maximize the sale of your home.

Tidy Your Exterior

You’ve already done the major landscaping—now it’s time to tackle the last few details. Make sure your lawn is freshly mowed, hedges are trimmed, and flower beds are weeded.

In addition, now is the time to clean your home’s exterior if you haven’t already. Power wash your siding, empty the gutters, and wash all your windows and screens.

Deep Clean Your Interior

Your house should be deep cleaned before listing, including a thorough deodorizing of the home’s interior and steam cleaning for all carpets. Consider hiring a professional cleaning company to ensure the space smells and looks as fresh as possible. 

In addition to cleaning, take some time to tidy up. Buyers will look inside your closets, pantries, and cabinets, so make sure they are neat and organized. Small appliances and toiletries should be cleared off the countertops.


Now you’re all set to go and there are just a few small things you need to handle on the day of showings or open houses. Do a final walk-through and take care of these finishing touches to give potential buyers the best possible impression.

Pre-Showing Prep

Happy and comfortable buyers are more likely to submit offers! Make them feel at home by adjusting the thermostat to a comfortable temperature. Open any blinds and curtains throughout the house, and turn on all lights so buyers can see all the potential in your home.

Then tidy up by vacuuming and sweeping floors, emptying (or hiding) trash cans, and wiping down countertops. In the bathrooms, close toilet lids and hang clean hand towels. 

Don’t forget to secure jewelry, sensitive documents, prescription medications, and any other items of value in a safe or store them off-site.

Finally, it’s best to have pets out of the house during showings. If possible, you should also remove evidence of pets (litter box, dog beds, etc.), which can be a turn-off for some buyers.


If you want to get top dollar for your home, don’t put it on the market before it’s ready. The right preparation can make all the difference when it comes to maximizing the offers you get. The upgrades and changes you need to make will depend upon your home’s condition, so don’t wait to speak with an agent.

Call our team if you’re thinking about selling your home, even if you’re not sure when. It’s never too early to seek the guidance of your real estate agent and start preparing your home to sell.

Please Click Here For a Free Consultation 

Please Click Here for a Free Home Evaluation


1. ConstructConnect




3. National Post


4. International Association of Staging Professionals




If you've been thinking about buying or selling a home in Vancouver, or if you've been thinking about putting your buying or selling plans on hold because the real estate market has been shifting, I have some important information and advice that I'd like to share with you.

Assumptions about the Shifting Real Estate Market in the Lower Mainland

The Lower Mainland Real Estate Market has been shifting over the last few months. Prices are no longer rising and activity is down, but I'm also noticing that there are a lot of assumptions and generalizations that are being made.

And one of the biggest assumptions that are being made right now is that prices are down considerably and equally across all of the cities in the lower mainland. But that is simply not the case.

Surrey and Maple Ridge, for example, have seen their prices dropped by anywhere between 15 to 20% from their peak, from some of the recent sales. But you have to understand that Surrey and Maple Ridge were also cities that had seen considerable appreciation over the last two years, anywhere between 50 to 70%, whereas Vancouver only experienced an appreciation of between 20 to 30%.

So what's going on with the prices in Vancouver?

Well, for the most part, they've been relatively stable and in instances where they have come down, they've only come down by a small percentage

Should you sell now? Should you buy now? Or should you wait?

This is a question that a lot of my clients have been asking, and you're probably asking as well.

The simple answer is, it depends.

But please allow me to elaborate.

Selling a Home in the Greater Vancouver Area

Well, one thing is for sure, prices are no longer rising. There is no more upward pressure on pricing. So if you are thinking about maximizing your sale price in the short term, then yes, you should definitely consider selling.

Selling and Buying a Home in the Greater Vancouver Area

If you're going to be selling and buying, you should also consider moving forward because even though the market is no longer heated and you're not receiving condition-less offers and prices that are well above market, sellers are still getting really good prices for their homes.

And when you sell and then become a buyer, you no longer have to deal with the heated sellers market as a buyer, which can be very stressing and challenging.

Buying a Home in the Greater Vancouver Area

If you're going to be buying in a neighbourhood where the inventory has been historically low, then it may be more advantageous for you to move forward now and not have to worry about competing with other buyers versus hoping and waiting for prices to decline.

If you're thinking about buying in a neighbourhood where prices have come down and the inventory is rising, then it may make sense for you to wait and watch to see what happens.


Be Market Wise. Make Informed Decisions

This is why I always emphasize not to rely on news headlines, general statistics or averages when making a decision on buying or selling. You should keep your eye on the property types and the areas that are most relevant and most important to you.

Be market wise, monitor what matters, so that you can make informed decisions.

If you're interested in knowing what your home is worth in today's market, or if you're interested in knowing what the inventory levels are like and how much homes are selling for in the areas that you're interested in moving to please click here.

Or if you prefer, you can call me, you can text me, you can email me. I promise you that I'll provide you with an informative pressure free conversation.

Thanks for reading and have a great day.


9 Tips for Buying and Selling Your Home at the Same Time

Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner. You're not alone either if you're already feeling drained by the complex logistics of trying to sell and buy a new home all at once.

Searching for a new home can be exciting, but many homebuyers admit that it can also be stressful, especially if you live in an unpredictable market with plenty of competitors. Unfortunately, waiting out a competitive housing market isn’t always the best idea either since homes can continue to remain in short supply in many areas, while demand can remain strong in others. 

That doesn't mean, though, that you should just throw up your hands and give up on moving altogether.  In fact, planning ahead and mapping out all your options will put you in a much better position to make a smooth transition from your old home to a new one.

We can help you prepare for the road ahead and answer any questions you have about the real estate market.  For example, here are some of the most frequent concerns we hear from clients who are trying to buy and sell at the same time.


This is an understandable concern for many sellers but chances are, you will still have plenty of options if you do sell your home quickly. It may just take some creativity and compromise.

Here are some ideas to make sure you're in the best possible position when you decide to list your home:

Tip #1: Be open to a leaseback.

Buyers may be willing to make concessions in order to get the home they want. In some cases, a buyer may agree to a sell and lease back agreement (also known as a "sell house and rent back" option) that allows the seller to continue living in the home after closing for a set period of time and a negotiated fee.

This can be a great option for sellers who need to tap into their home equity for a downpayment or who aren’t logistically ready to move into their next home. If you're dealing with an investor rather than a traditional buyer, you may even be able to negotiate a lengthy lease and lower rent payment than your current mortgage.1

However, leaseback agreements can be complex, with important legal, financial and tax issues to consider. At minimum, a carefully-worded contract and security deposit should be in place in case of any property damage or unexpected repairs that may be needed during the leaseback period.

Tip #2: Open your mind to short-term housing options.

While it can be a hassle to move out of your old home before you’re ready to move into your new one, it’s a common scenario. If you’re lucky enough to have family or generous friends who offer to take you in, that may be ideal. If not, you’ll need to find temporary housing. Check out furnished apartments, vacation rentals and month-to-month leases. If space is an issue, consider putting some of your furniture and possessions in storage.

You may even find that a short-term rental arrangement can offer you an opportunity to get to know your new neighbourhood better—and lead to a more informed decision about your upcoming purchase.

Tip #3: Embrace the idea of selling now and buying later.

Instead of stressing about timing your home sale and purchase perfectly, consider making a plan to focus on one at a time. Selling before you’re ready to buy your next home can offer a lot of advantages.

For one, you’ll have cash on hand from the sale of your current home. This will put you in a much better position when it comes to buying your next home. From budgeting to mortgage approval to submitting a competitive offer, cash is king. And by focusing on one step at a time, you can alleviate some of the pressure and uncertainty.


This is one of the most common concerns that we hear from buyers who are selling a home while shopping for a new one, and it’s realistic to expect at least some overlap in mortgage payments. But unless you have a large enough income to comfortably carry two mortgages, you may not pass Canada's beefed-up mortgage stress test until you have a contract on your first home. (You can use the Financial Consumer Agency of Canada's Mortgage Qualifier Tool to check your odds.2)

Assuming you can secure financing, however, it's still a good idea to examine your budget and calculate the maximum number of months you can afford to pay two mortgages before you jump on a new home. Potential stopgap solutions, such as bridge financing, can also help tide you over if you qualify.

If you simply can’t afford to carry both mortgages for any amount of time, or if you are concerned about passing the mortgage stress test, then selling before you buy may be your best option. (See Tip #3 above.) But if you have some flexibility in your budget, it is possible to manage both a home sale and purchase simultaneously. Here are some steps you can take to help streamline the process:

Tip #4: As you get ready to sell, simplify.

You can condense your sales timeline if you only focus on the home renovations and tasks that matter most for selling your home quickly. For example, clean and declutter all of your common areas, refresh your outdoor paint and curb appeal and fix any outstanding maintenance issues as quickly as possible.

But don't drain unnecessary time and money into pricey renovations and major home projects that could quickly bog you down for an unpredictable amount of time. We can advise you on the repairs and upgrades that are worth your time and investment.

Tip #5: Prep your paperwork.

You'll also save valuable time by filing as much paperwork as possible early in the process. For example, if you know you'll need a mortgage to buy your next home, get pre-approved right away so that you can shorten the amount of time it takes to process your loan.3

Similarly, set your home sale up for a fast and smooth transition by pulling together any relevant documentation about your current home, including appliance warranties, renovation permits, and repair records. That way, you're ready to provide quick answers to buyers' questions should they arise.

Tip #6: Ask us about other conditions that can be included in your contracts.

Part of our job as agents is to negotiate on your behalf and help you win favourable terms. For example, it’s possible to add a contract condition known as a "subject to sale" or "sale of property" (SOP) condition to your purchase offer that lets you cancel the contract if you haven't sold your previous home. This tactic could backfire, though, if you're competing with other buyers. We can discuss the pros and cons of these types of tactics and what’s realistic given the current market dynamics.


When you're in the pressure cooker of a home sale or have been shopping for a home for a while, it's easy to get carried away by stress and emotions. To make sure you're in the right headspace for your home buying and selling journey, take the time to slow down, breathe and delegate as much as possible. In addition:

Tip #7: Relax and accept that compromise is inevitable.

Rather than worry about getting every detail right with your housing search and home sale, trust that things will work out eventually––even if it doesn't look like your Plan A. Perfecting every detail with your home decor or timing your home sale perfectly isn't necessary for a successful home sale and compromise will almost always be necessary. Luckily, if you've got a good team of professionals, you can relax knowing that others have your back and are monitoring the details behind the scenes.

Tip #8: Don't worry too much if your path is straying from convention.

Remember that rules-of-thumb and home-buying trends are just that: they are estimates, not facts. So if your home search or sale isn't going exactly like your neighbours' experience, it doesn't mean that you are doomed to fail.

It's possible, for example, that seasonality trends may affect sales in your neighbourhood. So a delayed sale in the summer or fall could affect your journey––but not necessarily. According to the Canadian Real Estate Association, the housing market used to be more competitive during the fall and spring and less competitive during the winter. But it's not a hard and fast rule and real estate markets across Canada have seen major shifts in recent years.4 Every real estate transaction is different. That's why it's important to talk to a local agent about your specific situation.

Tip #9: Enlist help early.

If possible, call us early in the process. We'll not only provide you with key guidance on what you should do ahead of time to prepare your current home for sale, we'll also help you narrow down your list of must-haves and wants for your next one. That way, you'll be prepared to act quickly and confidently when you spot a great house and are ready to make an offer.

It's our job to guide you and advocate on your behalf. So don't be afraid to lean on us throughout the process. We’re here to ease your burden and make your move as seamless and stress-free as possible.


Buying and selling a home at the same time is challenging. But it doesn't have to be a nightmare, and it can even be fun. The key is to educate yourself about the market and prepare yourself for multiple scenarios. One of the best and easiest ways to do so is to partner with a knowledgeable and trustworthy agent.

A good agent will not only help you evaluate your situation, we will also provide you with honest and individually tailored advice that addresses your unique needs and challenges. Depending on your circumstances, now may be a great time to sell your home and buy a new one. But a thorough assessment may instead show you that you're better off pausing your search for a while longer.

Contact us for a free consultation so that we can help you review your options and decide the best way forward.


1. CBC


2. Financial Consumer Agency of Canada


3. Government of Canada 


4. Canadian Real Estate Association



The Greater Vancouver Real Estate Market has been Shifting

The Greater Vancouver Estate Market has been shifting over the last couple of months.

Traffic at open houses and the number of showings, for many properties, has dropped.

The total number of offers have declined significantly from the recent feverish levels, when there was a lineup of buyers at almost every property, submitting conditionless offers with prices well above the most recent market values.

Many listings are receiving just a single offer now and that offer has subjects(conditions). Buyers are being able to get offers with conditions accepted since many are no longer competing. There has been a substantial rise in the number of accepted offers that have subjects.

We’ve been seeing more and more listings start to advertise that offers will be reviewed on a first-come first-serve basis.

There are still listings coming up that are using the offers to be reviewed on a certain date strategy. Some of those listings are doing it based on the hope that the market hasn't shifted, some are doing it because they are listing it well below market value and as a result will receive more offers, while the remaining are doing it because they are still experiencing a strong level of demand.

Here is what the Chairman of the Real Estate Board of Greater Vancouver, Daniel John, recently said about the market:

“So far this spring, we’ve seen home sales ease down from the record-breaking pace of last year. While a small sample size, the return to a more traditional pace of home sales that we’ve experienced over the last two months provides hopeful home buyers more time to make decisions…”1

The President of the Fraser Valley Board, Sandra Benz, provided a similar insight:

“We would typically see a flurry of activity around this time of the year, however that’s not been the case so far. While it’s still too early to say whether this trend will endure, the slowing of sales combined with an increase in active listings is helping to restore a semblance of balance to the market, which is encouraging for homebuyers.”2

What’s led to the shift?

This is a tough one to quantify but in my opinion it's most likely a combination of; many buyers being priced out due to the significant rise in pricing, a good portion of the precovid pent up demand being satisfied, buyer’s fatigue/perception/sentiment of the market, higher inventory*(in some areas), and higher interest rates leading to investors leaving the market.

The reason why I link the higher interest rates to only investors leaving the market is because even though the 5 year fixed rates have risen significantly, and the variable rates are also on the rise, the mortgage amount that buyers can qualify for has not really changed significantly.

This is due to the stress test rules which state that the mortgage amount that a buyer can qualify for will be based on either the benchmark rate, which is 5.25%, or the rate offered by their lender plus 2%3, whichever is higher.

Buyer’s have been qualifying under 5.25% since June of 2021 and that hasn't really changed over the last few months during the shift. Even though the five year fixed rates for the 5 big banks of Canada are currently ranging between 4.29 to 4.42%4, the variable rates are still under 3%4, allowing buyers to still qualify using 5.25%.

Although investors can also qualify for the same amount as they had prior to the rise in rates, they are much more focused on the rates than they are about the mortgage amount. Their decision to buy is based purely on cost benefit whereas the decisions of buyers who are looking for a place to live is based on lifestyle and life stage changes.

In a country where about one-third of all residential properties are owned as investments (based on data released by the Canadian Housing Statistics Program of Statistics Canada)5 the entrance and exit of investors from the market can have a strong impact.

Has the market shifted equally for all areas and property types?

One of the questions that I always get asked is, “Hey Manny what's the market like?” My answer is always the same, “It depends on property type and location.”

The Greater Vancouver Real Estate Market is essentially a collection of many different micro-markets, depending on property type and location. At any given time there can be differences in demand, pricing, and activity between these micro markets.

For example, not only can there be differences between the cities of Vancouver and New Westminster but there can also be differences between the neighbourhoods within Vancouver.

The same holds true for this current shift.

Although sales and number of offers are down overall, not all areas and properties are experiencing the same level of decline.

Generally speaking the condo and townhome markets are more active than the detached home markets. But within the condo and townhome markets there are areas that are also seeing a decline. And while the detached home markets have seen more of a decline than the condo and townhome markets there are still areas where activity remains strong.

What's going on with prices?

The strong upward pressure on pricing over the last couple of years started to subside a couple of months ago and based on the majority of recent sales, the prices are still stable for many markets.

However, there have also been a number of recent sales that sold for below the most recent market values.

Some of these lower priced sales were considerably lower than recent market values while others were somewhat lower. There isn't a large number of these types of sales yet, but prices have definitely come down for some property types and areas and there is another key observation worth noting that may have a further effect.

That observation is - some of the active listings on the market. There are some properties that are starting to sit on the market at prices that are both at, and below, the recent market values.

Is a correction on the horizon?

If you’ve been living in the Greater Vancouver area over the last 15 to 20 years, you’ve probably seen this question as a popular headline from time to time.

Although the long term pricing trend for the Greater Vancouver Real Estate Market has been upward over that time, the market has also been through a few, short term, downward cycles.

Is the market beginning to move through one of those downward cycles now? Will the price decrease spread across all the micro markets? Will prices decline at a higher rate?

Here are some forecasts that have been cycling through the news:

Royal Bank of Canada is predicting the aggregate benchmark price will decline 2.2% nationwide in 2023, with the downward price pressure to be more intense in Vancouver at 3.8%.6

Oxford economics are predicting a much more aggressive decline of 24%.7 (this one seems too over the top and would require either a massive surplus of inventory, a major rise in interest rates, or a combination of the two)

Instead of relying on forecasts, which have been incorrect in the past, here are few things that I will be monitoring that can influence cycles and pricing:


Inventory has moved up in some areas but remains low in others, Most of the inventory is also overpriced. But as I mentioned earlier there are properties that are starting to sit on the market at prices that are at, and below, the recent market values. If that number continues to rise then it could contribute to downward pressure on pricing.

Interest Rates - Especially the Variable

As I mentioned earlier, so far buyers have not had the amount of mortgage they can qualify for reduced as long as they choose to go with the variable rate.

But that variable rate will continue to rise in response to the Bank of Canada raising its policy rate. Variable-rates offered by banks are typically expressed as “prime plus or minus” a percentage.When the Bank of Canada increases or slashes its overnight rate, prime rates typically adjust by a similar amount.8

The Bank of Canada has already stated that they will continue to forcefully raise the rate, if needed, to battle inflation.9 If, as a result, the variable rate moves to 4% or above, then there will be a notable decrease in the mortgage amount that a buyer can qualify for, leading to reduced purchasing power which could contribute to downward pressure on pricing.

Buyers Sentiment/Perception

Unlike inventory and rates, sentiment is hard to quantify but it can be gauged by those working in the frontline, namely real estate agents and mortgage brokers.

Ever heard of the term perception is reality?

I have seen buyer perception influence decisions in the past. In 2019 the market had hit the bottom of its downward cycle. Prices had dropped by a percentage that was equal to the percentage drop in the mortgage amount that buyers were able to qualify for, due to the stress test. Despite this, the majority of buyers did not enter the market because they perceived that the market may drop further.

If buyers perceive that we are in a downward cycle, and start to believe the forecasts mentioned, many of them may put their buying plans on hold. This would reduce the number of active buyers in the market, which could contribute to downward pressure on pricing.

Should you sell now? Should you buy now? Should you wait?

The Greater Vancouver Real Estate Market is a collection of micro markets(depending on property type and location), each with its own level of supply, demand, activity, and price changes.

Which is why the answer to these questions depends on the micro markets in which someone is considering buying and/or selling.

For those that would prefer to maximize their sale price in the short term, selling now should be considered since the majority of the overall market has stabilized while some micro markets have come down in price from their peak.

For those looking to buy in areas where inventory is rising and prices have come down from their peak, it may make sense to wait and see if prices come down further.

For those that are looking to buy in areas where supply is historically low, it may be better to move forward now because the opportunity to buy without having to compete, may be more advantageous than waiting for a possible decline in pricing.

For those that are looking to sell and buy, now could be a good time to make the move because even though the buying frenzy has subsided, thereby reducing the number of offers and over market sale prices, sellers are still getting good prices for their homes and once they sell and become buyers, they no longer have to deal with the stresses of being involved in multiple offers in many areas.

Please note though, that the Greater Vanocuver Real Estate Market is also very dynamic, activity and sentiment can change quickly.

Although the market has been shifting and some signs point to a downward cycle, inflation may subside or decline and as a result the interest rates may no longer rise or they may decline. Also, many sellers may remove their listings from the market if they feel that prices are going to come down and inventory may decline. Both of these changes would reduce downward pressure on pricing.

This is why the most important piece of advice I can provide, and stress, is that you should not rely on general stats, general consensus, and headlines when making a decision to buy, sell, or wait.

You should watch the micro markets that you are living in along with the ones that you are interested in moving to. By monitoring the most relevant markets you can put yourself in a position to move forward when you see shifts in the market that are either favourable to you or to avoid shifts in the market that may not be favourable.

Be market wise

Monitor what matters

Make informed decisions

If you have any questions about specific markets or if you would like to be up to date with and monitor specific markets, please call, text, or email me. I promise to provide an informative, pressure free conversation.

Please click here for a free consultation. 

1. Real Estate Board of Greater Vancouver


2. Fraser Valley Real Estate Board


3. Bank of Montreal


4. Rate Hub


5. Statistics Canada


6. CTV News


7. Daily Hive


8. Money Sense


9. Bank of Canada


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