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. That is leading to some difficult conversations when an agent meets with a seller to discuss what price to list their unit at, said Mr. Kleine, who said he just sold a house in Abbotsford for $899,000 that was assessed for $1.05-million.