Most Vancouver houses sold below assessed in last three months

By ThinkPol Staff

Just over half of all Metro Vancouver single family homes sold for below assessment, MLS sales data for the last three months show.

And industry insider provided ThinkPol the sales data for Vancouver, Richmond, West Vancouver and Burnaby for the months of December 2017, and January and February 2018.

While Vancouver recorded the biggest discount sale, almost a third of all single family homes in West Vancouver sold for double digits below assessment.

A property on the 1400 block of Tyrol Road, West Vancouver, assessed at $3,765,000^[1]https://www.bcassessment.ca/Property/Info/QTAwMDAyOUNHUg==, sold for $2,720,000 after being listed at $2,980,000^[2]http://webcache.googleusercontent.com/search?q=cache:P_hV0TPAa8MJ:macrealty.com/home/House/single-Family/1460-tyrol-road/West-Vancouver/BC/V7S%25202L6/mlsR2237854/rebgvvrebvirebomreb/+&cd=1&hl=en&ct=clnk&gl=ca.

Out of the regions for which we had data, Richmond and New Westminster seemed to have done best in terms of sold price to assessed value ratio, with the majority of the houses in both areas selling for over assessed.

Note to Readers: An earlier version of this story contained potentially inaccurate information. We apologize to our readers for the error.

[Photo Credit: BC Assessment]