You may have seen a recent headline reporting that three out of four homes sold in Metro Vancouver and the Fraser Valley this year have sold below their assessed value.

Sounds alarming, doesn't it?

But before drawing conclusions, there's something important to understand.

Those 2026 assessed values were established using market conditions as of July 1, 2025. That's nearly a year and a half ago!

And as we all know, a lot can change in the real estate market in that time.

According to the report, homes sold for an average of 4.6% below their assessed values. Does that mean those properties were sold for less than they were worth? Not necessarily.

It means we're comparing today's selling prices with valuations based on yesterday's market.

Now, there's no question that the market has softened. Buyers are more cautious, inventory is higher, and sellers have had to adjust their expectations. Those are genuine market conditions and we shouldn't ignore them.

But an assessed value is not the same as today's market value.

BC Assessment provides a valuation at a particular point in time, primarily for property taxation purposes. What a buyer is prepared to pay today depends on current comparable sales, competition, property condition, location and demand.

Here on the North Shore, we're seeing just how important those differences can be. Two seemingly similar properties can attract very different levels of interest depending on their pricing, presentation and individual characteristics.

Our takeaway? Don't let a headline tell you what your home is worth.

The real estate market is constantly changing and understanding what's happening right now is far more useful than comparing today's prices to a valuation from 16 months ago.

Whether you're buying, selling or simply keeping an eye on your property's value, context matters. And that's where good local market knowledge makes all the difference.

A 9-part series - District of North Vancouver’s new residential zoning rules.

Part 6 of 9: Could Your Garage Become Living Space?

It may sound like a small technical change, but the way the District treats garages under the new zoning rules could have some interesting implications for homeowners.

Under the new R1 and R2 framework, garage area is included in the property's floor-area calculations.

Historically, garage space often received different treatment from living space when calculating how much could be built on a lot.

Once that distinction changes, an interesting question arises:

Does the garage still need to remain a garage?

In some circumstances, an existing garage may potentially be converted into living space, provided the property can still satisfy its parking requirements and the renovation meets applicable Building Code and permitting requirements.

That could create options for an office, bedroom, family room, accessible living area or other useful space.

What does this mean for my property?

Before assuming you need to build an addition to gain more usable space, it may be worth looking at what you already have.

An attached garage occupying valuable square footage could potentially have more utility as part of the home.

But garage conversions are very property specific.

Parking requirements still matter. Structural work may be required. Ceiling heights, insulation, windows, fire separation and other Building Code considerations could all come into play.

So this is not simply a matter of putting down flooring and replacing the garage door.

Still, for some homeowners it creates another reason to rethink how an existing property might work before assuming redevelopment is necessary.

Next week, we'll look at another change that could affect the way new homes sit on their lots.

Next week: Your Front Yard May Have More Potential Than You Think.

This article is a general summary and is not intended as legal or planning advice. Property-specific requirements should always be confirmed with the District of North Vancouver.

There's something about seeing a property advertised with a significant price reduction that gets buyers' attention.

A $50,000 reduction? Interesting. A $100,000 reduction? Now we're curious!

But before assuming you've found a bargain, there's an important question worth asking: Was the property ever worth its original asking price in the first place?

In today's North Shore real estate market, price reductions have become a familiar sight. And while some certainly represent opportunities for buyers, others simply reflect sellers adjusting expectations to meet the market.

So how do you tell the difference?

The Original Asking Price Isn't Necessarily the Starting Point

One of the biggest misconceptions about price reductions is that the amount reduced represents money saved.

Consider a home originally listed at $1,250,000 and subsequently reduced to $1,150,000.

On paper, that's a $100,000 reduction. But what if comparable properties have recently been selling for around $1,100,000?

Suddenly, that attractive price reduction doesn't look quite as compelling.

The asking price is what a seller hopes to achieve. Market value is what buyers are actually prepared to pay. And the two aren't always the same.

Comparable Sales Tell a More Useful Story

Before getting excited about a reduced price, we look closely at what similar properties have actually sold for.

That means considering location, size, age, condition, layout, exposure, parking and other features that influence value.

Here on the North Shore, two homes in the same neighbourhood — or even the same building — can command noticeably different prices.

A quiet, renovated south-facing condo with two parking spaces may appeal to a very different buyer pool than a similar-sized north-facing unit overlooking a busy street.

It's the details that matter.

What's Behind the Price Reduction?

A price reduction can tell us something about a seller's circumstances, but it doesn't tell the whole story.

Perhaps the home was initially priced too ambitiously. Perhaps another property has come onto the market at a more competitive price. Or perhaps the seller has a genuine reason to make a move sooner rather than later.

Understanding the property's listing history, current competition and seller's circumstances, where known, can help determine whether there's an opportunity to negotiate.

But we shouldn't assume that a seller who reduces their price is desperate to sell.

Don't Overlook the Condition of the Property

A reduced purchase price can quickly lose its appeal if substantial expenses are waiting around the corner.

For a detached home, that might involve the roof, drainage, heating systems or deferred maintenance.

For a condominium or townhouse, we'll want to understand the strata corporation's financial position, depreciation report, maintenance history and any significant upcoming projects.

A $40,000 price reduction might seem attractive until you discover a potentially expensive building repair or special levy.

Of course, those issues don't automatically make a property a poor purchase. They simply need to be understood and appropriately reflected in the price.

Sometimes a Price Reduction Really Does Create an Opportunity

There are situations where a seller adjusts their price to a level that represents excellent value compared with recent sales and competing properties.

Perhaps the home has been overlooked because its original price discouraged buyers. Perhaps the seller's timing has changed. Or perhaps the new price finally reflects the property's true position in the market.

These are the opportunities worth investigating.

Our Takeaway

A good deal isn't determined by how much the asking price has dropped. It's determined by what the property is worth today.

For buyers, the goal isn't simply to negotiate the biggest discount from the original list price. It's to purchase the right property, understand what you're buying and feel confident that the price makes sense.

And sometimes, the best opportunity isn't the property with the biggest red price-reduction banner. It's the one that was realistically priced from the beginning.

The Botto Team | Royal LePage Sussex

Helping buyers make informed real estate decisions throughout North Vancouver and West Vancouver.

It's a question we hear from homeowners every year around this time.

"Would we be better off waiting until spring?"

And it's a perfectly reasonable question, particularly in a real estate market where buyers are cautious, properties are taking longer to sell and sellers are having to think carefully about their pricing strategies.

Spring has traditionally been considered the busiest real estate season. Gardens look their best, daylight hours are longer, and more buyers tend to be out looking at homes.

But does that automatically make spring the best time to sell?

Not necessarily. And in today's market, the answer deserves a little more thought.

More Buyers in Spring — But More Competition Too

One of the advantages of selling in spring is the potential for increased buyer activity.

Families may be planning moves around the school calendar, the weather is more inviting for viewings, and the fresh start of a new year often brings renewed interest in real estate.

However, there's another side to that equation.

Spring also tends to bring more listings.

That means your home could be competing with several similar properties in the same neighbourhood, building or price range.

A home that stands out in November because there are few comparable properties available might find itself competing with five or six alternatives come March or April.

More buyers don't necessarily mean a better result if those buyers also have more choices.

Less Competition Can Be an Advantage

One consideration that sellers sometimes overlook is the value of having fewer competing properties on the market.

Buyers don't stop looking for homes simply because the holiday season is approaching.

Some are relocating for work, some have already sold their homes, and others have been searching for months without finding the right property.

These buyers may have very real reasons to move.

If your home fills a gap in the current inventory — perhaps it's a well-maintained family home in a particular school catchment, or a desirable condo floor plan that's rarely available — there may be an opportunity to attract serious interest.

Of course, fewer buyers can also mean fewer showings and a longer selling period.

It's a trade-off worth considering.

What Does Waiting Actually Cost?

This is an important part of the conversation.

If you're thinking about delaying your sale by four or five months, consider the cost of maintaining the property during that time.

Mortgage interest, property taxes, insurance, utilities, strata fees and ongoing maintenance may all factor into the decision.

For a vacant property, these costs can be especially significant.

And if you've already purchased another home or are carrying two properties, waiting can create additional financial pressure.

That doesn't mean selling now is always the better choice. But the potential benefit of waiting should be weighed against the actual cost.

Will Prices Be Higher in Spring?

That's the question we'd all love to answer with certainty!

But markets don't follow a guaranteed seasonal pattern.

Interest rates, economic conditions, inventory, buyer confidence and changes in borrowing costs can all influence what happens between now and spring.

Waiting might work in your favour. Equally, market conditions could remain similar or become more challenging.

The important thing is not to base your decision on the assumption that spring will automatically bring higher prices.

A realistic assessment of your property's current value, recent comparable sales and likely competition will provide a better starting point.

Your Personal Timeline Matters

Real estate decisions aren't made in isolation from the rest of life.

Perhaps you're downsizing and looking forward to moving into a more manageable home.

Maybe a job change, retirement, family circumstances or an upcoming purchase is prompting your move.

Or perhaps you're simply exploring your options, with no particular deadline.

Those circumstances matter just as much as market statistics.

If selling now allows you to move forward with your plans and makes financial sense, there's no reason to delay simply because the calendar says November.

On the other hand, if there's no urgency and your home would benefit from some preparation, waiting until spring may be entirely sensible.

Preparation and Pricing Matter in Every Season

Whether you list in November or April, the fundamentals remain the same.

Buyers are looking carefully at value. They compare properties, consider condition and evaluate alternatives before making decisions.

A well-prepared home, supported by a thoughtful pricing and marketing strategy, has a better chance of attracting serious attention regardless of the season.

An overpriced property doesn't become more attractive simply because more buyers are out looking in the spring.

Our Takeaway

The best time to sell isn't necessarily the busiest time of year. It's the time that makes the most sense for your property, your circumstances and the market you're selling into.

For some North Shore homeowners, selling before the end of the year may offer an advantage because of limited competition.

For others, waiting until spring 2027 could be the more practical decision.

Rather than choosing a date based on tradition, we'd encourage you to look at the competing inventory, recent sales, likely selling costs and your own plans.

Because a well-informed decision is always better than simply hoping the next season will bring a better market.

The Botto Team | Royal LePage Sussex

Thoughtful real estate advice for North Vancouver and West Vancouver homeowners.

November is bringing a wonderful mix of arts, culture and early holiday festivities to North Vancouver.

Whether you're getting a head start on holiday shopping, looking for a family outing or hoping to discover something new in your own community, there's plenty happening close to home.

We've rounded up five events worth checking out over the next two weeks, from local artisan markets and holiday ballet to cultural workshops and contemporary art.

One of the things we love about living on the North Shore is having so many interesting activities and experiences right on our doorstep.

Here's what's coming up around North Vancouver!

Winter Pop-Up Market at The Shipyards | NOV 14–15 · 12–6 PM · FREE 
Kick off your holiday shopping at the Pipe Shop, where more than 50 local makers and small businesses will be showcasing handmade gifts, jewellery, artwork, home décor and seasonal treats. A festive, family-friendly outing, and dogs are welcome too!

The Pipe Shop, 115 Victory Ship Way
Explore the Market

Lonsdale Quay Holiday Market | NOV 21–22 · FREE ENTRY
The holiday season arrives at Lonsdale Quay with local artisans, unique gifts and festive shopping along the waterfront. Browse the indoor and outdoor markets, enjoy the atmosphere and make an afternoon of it in Lower Lonsdale.

Indoor 11 AM–7 PM; outdoor Saturday 2–8 PM, Sunday 12–6 PM
See Market Dates & Details

The Fairy Doll — A Holiday Ballet | NOV 21–22 · TICKETED
Coastal City Ballet brings a magical toy shop to life at Centennial Theatre. Filled with colourful costumes, lively characters and festive music, The Fairy Doll is a lovely way for families and ballet lovers to welcome the holiday season.

Centennial Theatre · Nov 21 at 7 PM; Nov 22 at noon and 5 PM
See Performance Details

Coast Salish Wool Weaving at MONOVA | NOV 21 · 1 PM OR 3 PM · $15–$25
Discover the traditions and craftsmanship of Coast Salish wool weaving in this hands-on workshop led by Indigenous Cultural Programmer Jordan Dawson. Learn about the practice while creating a piece of your own to take home. Suitable for ages 10 and up; registration required.

Museum of North Vancouver, 115 West Esplanade
Explore the Workshop

The Lind Biennial Opening Celebration | NOV 26 · 7–9 PM
Spend an evening at The Polygon Gallery celebrating emerging British Columbia artists working in photography, film and video. This special opening marks the launch of The Lind Biennial, an exhibition showcasing finalists for the Philip B. Lind Prize. RSVPs are encouraged.

The Polygon Gallery, 101 Carrie Cates Court
Discover the Exhibition

Event details may change so please check online prior to the date