BC Assessment, a provincial Crown corporation, released five new reports on Tuesday showing trends in scores of communities across the five different regions of the province, with most owners of single-family homes and condos located in and around Vancouver seeing a 9-per-cent lift in their assessed values. In Vancouver, for example, the agency said a typical detached house is now assessed at $2,125,000 compared with $1,994,000 the summer before.
The market momentum is now quite a bit different from last summer, Mr. Murao said, with an unpredictable stalemate developing in many markets between buyers wanting better deals and sellers stubbornly refusing to drop prices. For example, Mr. Kleine said, a three-bedroom rancher he was showing this week in Langley was first listed last July for $1.14-million. The owners have since dropped the price three times and are now askingIn a normal market, an assessment might be off by up to $100,000 owing to not taking into account a house’s location on a busy street or the state of its interior, said Mr. Kleine, who has been selling real estate for six years.
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