Most Vancouver houses sold below assessment in March
By ThinkPol Staff
Well over half of all Vancouver detached houses sold below assessment in March, with some going as low as 22% below, making it the second month in row that a majority of Vancouver single family homes sold below assessed value.
The MLS sales data, which was provided to ThinkPol by an industry source, show 57% of the single family homes sold in Vancouver sold below 2018 assessed value.
| MLS# | Address | Date Sold | Sold Price | Assessed Value | Percentage Difference |
|---|---|---|---|---|---|
| R2247954 | 6XXX LARCH ST VANCOUVER | 3/19/2018 | $2,700,000 | $3,484,300 | -22.51 |
| R2242301 | 4XXX 11TH AVE W VANCOUVER | 3/6/2018 | $2,880,000 | $3,704,600 | -22.26 |
| R2229998 | 2XXX 15TH AVE W VANCOUVER | 3/6/2018 | $2,485,000 | $3,087,000 | -19.5 |
| R2243644 | 1XXX 47TH AVE W VANCOUVER | 3/3/2018 | $3,700,000 | $4,516,600 | -18.08 |
| R2246223 | 2XXX 11TH AVE W VANCOUVER | 3/21/2018 | $2,090,000 | $2,540,100 | -17.72 |
| R2238609 | 1XXX 36TH AVE W VANCOUVER | 3/1/2018 | $3,300,000 | $3,956,300 | -16.59 |
| R2247747 | 3XXX MAYFAIR AVE VANCOUVER | 3/19/2018 | $2,888,000 | $3,413,000 | -15.38 |
| R2200498 | 3XXX KING EDWARD AVE W VANCOUVER | 3/1/2018 | $2,500,000 | $2,861,000 | -12.62 |
| R2238162 | 4XXX DONCASTER WAY VANCOUVER | 3/3/2018 | $3,588,000 | $4,014,600 | -10.63 |
| R2238172 | 3XXX VIMY CRES VANCOUVER | 3/13/2018 | $1,688,888 | $1,886,000 | -10.45 |
| R2244555 | XXX AUBREY PL VANCOUVER | 3/9/2018 | $1,663,000 | $1,854,000 | -10.3 |
| R2239222 | 1XXX GEORGIA ST E VANCOUVER | 3/16/2018 | $1,259,000 | $1,392,000 | -9.55 |
| R2231651 | XXX 51ST AVE E VANCOUVER | 3/5/2018 | $1,470,000 | $1,619,000 | -9.2 |
| R2250110 | 2XXX SLOCAN ST VANCOUVER | 3/25/2018 | $1,250,000 | $1,374,700 | -9.07 |
| R2245309 | 1XXX 42ND AVE W VANCOUVER | 3/13/2018 | $2,470,000 | $2,699,900 | -8.52 |
| R2244680 | 4XXX ANGUS DR VANCOUVER | 3/5/2018 | $6,500,000 | $7,091,000 | -8.33 |
| R2242360 | 2XXX 39TH AVE W VANCOUVER | 3/26/2018 | $3,020,000 | $3,263,500 | -7.46 |
| R2246814 | 2XXX 21ST AVE W VANCOUVER | 3/15/2018 | $2,355,000 | $2,530,500 | -6.94 |
| R2243737 | 3XXX 2ND AVE W VANCOUVER | 3/6/2018 | $2,820,000 | $3,027,000 | -6.84 |
| R2245800 | 2XXX 28TH AVE W VANCOUVER | 3/19/2018 | $3,080,000 | $3,305,000 | -6.81 |
| R2235447 | 3XXX TUPPER ST VANCOUVER | 3/12/2018 | $2,000,000 | $2,141,600 | -6.61 |
| R2245046 | 1XXX 13TH AVE E VANCOUVER | 3/15/2018 | $1,699,000 | $1,812,000 | -6.24 |
| R2244010 | 2XXX 32ND AVE E VANCOUVER | 3/9/2018 | $1,350,000 | $1,434,100 | -5.86 |
| R2234635 | 2XXX 41ST AVE W VANCOUVER | 3/2/2018 | $2,950,000 | $3,133,000 | -5.84 |
| R2244609 | 6XXX ARLINGTON ST VANCOUVER | 3/11/2018 | $1,530,000 | $1,620,800 | -5.6 |
| R2247057 | 1XXX CYPRESS ST VANCOUVER | 3/15/2018 | $2,980,000 | $3,148,200 | -5.34 |
| R2245276 | 2XXX PRINCE ALBERT ST VANCOUVER | 3/12/2018 | $1,208,000 | $1,268,400 | -4.76 |
| R2242251 | 2XXX 10TH AVE W VANCOUVER | 3/5/2018 | $2,500,000 | $2,621,000 | -4.62 |
| R2236452 | 3XXX WAVERLEY AVE VANCOUVER | 3/6/2018 | $1,300,000 | $1,353,100 | -3.92 |
| R2242861 | 3XXX 30TH AVE W VANCOUVER | 3/10/2018 | $3,980,000 | $4,136,000 | -3.77 |
| R2245758 | 3XXX KING EDWARD AVE W VANCOUVER | 3/12/2018 | $2,390,000 | $2,482,000 | -3.71 |
| R2228818 | 4XXX COMMERCIAL ST VANCOUVER | 3/6/2018 | $1,386,000 | $1,439,000 | -3.68 |
| R2243797 | 3XXX 33RD AVE W VANCOUVER | 3/15/2018 | $2,850,000 | $2,952,700 | -3.48 |
| R2239721 | 6XXX LANARK ST VANCOUVER | 3/11/2018 | $1,520,060 | $1,566,500 | -2.96 |
| R2245725 | 7XXX FRASER ST VANCOUVER | 3/12/2018 | $1,400,000 | $1,428,000 | -1.96 |
| R2234739 | 2XXX 47TH AVE E VANCOUVER | 3/2/2018 | $1,310,000 | $1,336,100 | -1.95 |
| R2245488 | 2XXX GARDEN DR VANCOUVER | 3/12/2018 | $1,640,000 | $1,666,000 | -1.56 |
| R2245198 | XXX 11TH AVE E VANCOUVER | 3/19/2018 | $1,651,000 | $1,676,100 | -1.5 |
| R2244602 | 1XXX 27TH AVE E VANCOUVER | 3/18/2018 | $1,598,000 | $1,618,200 | -1.25 |
| R2234424 | 6XXX FREMLIN ST VANCOUVER | 3/1/2018 | $4,950,000 | $5,007,000 | -1.14 |
| R2229583 | 3XXX 24TH AVE W VANCOUVER | 3/2/2018 | $3,788,000 | $3,822,000 | -0.89 |
| R2242453 | 3XXX 34TH AVE W VANCOUVER | 3/6/2018 | $3,970,000 | $4,000,000 | -0.75 |
| R2244719 | XXX 63RD AVE W VANCOUVER | 3/14/2018 | $1,950,000 | $1,962,500 | -0.64 |
| R2242774 | 5XXX BATTISON ST VANCOUVER | 3/6/2018 | $1,960,000 | $1,961,000 | -0.05 |
| R2226603 | 6XXX BEATRICE ST VANCOUVER | 3/10/2018 | $1,850,000 | $1,840,000 | 0.54 |
| R2230056 | 1XXX GARDEN DR VANCOUVER | 3/14/2018 | $1,550,000 | $1,536,400 | 0.89 |
| R2239509 | 8XXX ELLIOTT ST VANCOUVER | 3/16/2018 | $2,170,000 | $2,147,200 | 1.06 |
| R2237098 | 5XXX LINCOLN ST VANCOUVER | 3/8/2018 | $2,058,800 | $2,031,000 | 1.37 |
| R2240877 | 2XXX 18TH AVE E VANCOUVER | 3/9/2018 | $1,365,000 | $1,346,000 | 1.41 |
| R2245065 | 3XXX DIEPPE DR VANCOUVER | 3/13/2018 | $1,450,000 | $1,425,300 | 1.73 |
| R2241492 | 2XXX KEITH DR VANCOUVER | 3/1/2018 | $1,900,000 | $1,858,300 | 2.24 |
| R2202969 | XXX 63RD AVE E VANCOUVER | 3/2/2018 | $1,625,000 | $1,586,000 | 2.46 |
| R2237132 | XXX 50TH AVE E VANCOUVER | 3/16/2018 | $2,275,000 | $2,219,000 | 2.52 |
| R2245034 | 27 49TH AVE E VANCOUVER | 3/7/2018 | $1,808,000 | $1,745,000 | 3.61 |
| R2245587 | 4XXX HARRIET ST VANCOUVER | 3/22/2018 | $1,725,000 | $1,664,000 | 3.67 |
| R2248509 | XXX 24TH AVE E VANCOUVER | 3/19/2018 | $1,577,000 | $1,517,100 | 3.95 |
| R2233158 | XXX 13TH AVE E VANCOUVER | 3/2/2018 | $1,760,000 | $1,691,000 | 4.08 |
| R2247167 | 2XXX NAPIER ST VANCOUVER | 3/17/2018 | $1,348,000 | $1,292,100 | 4.33 |
| R2233803 | 3XXX MAYFAIR AVE VANCOUVER | 3/13/2018 | $4,580,000 | $4,387,000 | 4.4 |
| R2248683 | XXX ATLANTIC ST VANCOUVER | 3/28/2018 | $1,668,000 | $1,595,000 | 4.58 |
| R2241858 | 1XXX 5TH AVE E VANCOUVER | 3/1/2018 | $2,100,000 | $1,986,000 | 5.74 |
| R2247118 | XXX 17TH AVE W VANCOUVER | 3/15/2018 | $2,800,000 | $2,633,000 | 6.34 |
| R2242245 | 46 47TH AVE E VANCOUVER | 3/10/2018 | $2,888,000 | $2,702,000 | 6.88 |
| R2244648 | XXX RUPERT ST VANCOUVER | 3/12/2018 | $1,320,000 | $1,230,900 | 7.24 |
| R2244024 | 4XXX WINDSOR ST VANCOUVER | 3/4/2018 | $1,695,000 | $1,563,000 | 8.45 |
| R2235367 | 2XXX UPLAND DR VANCOUVER | 3/3/2018 | $1,528,000 | $1,409,000 | 8.45 |
| R2244852 | 3XXX 16TH AVE W VANCOUVER | 3/12/2018 | $2,820,000 | $2,586,000 | 9.05 |
| R2234992 | 3XXX GEORGIA ST E VANCOUVER | 3/6/2018 | $1,205,000 | $1,102,800 | 9.27 |
| R2247222 | 4XXX BALDWIN ST VANCOUVER | 3/8/2018 | $1,650,000 | $1,463,900 | 12.71 |
| R2240182 | 4XXX 15TH AVE W VANCOUVER | 3/8/2018 | $4,400,000 | $3,852,000 | 14.23 |
| R2224108 | 1XXX THE CRESCENT VANCOUVER | 3/4/2018 | $4,850,000 | $4,231,000 | 14.63 |
| R2235237 | 2XXX 45TH AVE E VANCOUVER | 3/8/2018 | $1,620,000 | $1,404,800 | 15.32 |
| R2246753 | 1XXX GARDEN DR VANCOUVER | 3/20/2018 | $1,756,000 | $1,498,000 | 17.22 |
| R2237779 | 3XXX 7TH AVE E VANCOUVER | 3/11/2018 | $2,266,667 | $1,694,000 | 33.81 |
| R2244018 | 2XXX 6TH AVE W VANCOUVER | 3/16/2018 | $2,708,000 | $1,998,000 | 35.54 |
| R2245227 | 2XXX CHARLES ST VANCOUVER | 3/16/2018 | $2,180,000 | $1,501,000 | 45.24 |
| R2244410 | 6XXX FRASER ST VANCOUVER | 3/7/2018 | $1,390,000 | $932,600 | 49.05 |
Once again, the biggest losers were in Vancouver Westside, where 11 of the 12 biggest drops compared to the assessed values were to be found.
Continuing the trend seen in the previous months, 7 out of the 10 biggest gains against assessed values were recorded in East Vancouver.
The largest gainer was a house on Fraser Street, which falls within the narrow area demarcated as being eligible for higher density rezoning under the City of Vancouver’s Affordable Housing Choices Interim Rezoning Policy[1]http://vancouver.ca/files/cov/Affordable-housing-choices-interim-rezoning-policy.pdf.
Most of the other houses that sold for well above assessed were new builds.
The MLS sales data show the percentage of houses sold over assessment shrinking every month in 2018.
2018 property assessment values reflects what was happening around BC Assessment’s uniform valuation date of July 1, 2017[2]https://info.bcassessment.ca/news/Pages/2018_Property_Assessments_Preview.aspx.
The independent crown corporation’s appraisers analyze current sales in the local area, as well as the property’s size, age, quality, condition, view and location.
References
| 1. | ↑ | http://vancouver.ca/files/cov/Affordable-housing-choices-interim-rezoning-policy.pdf |
| 2. | ↑ | https://info.bcassessment.ca/news/Pages/2018_Property_Assessments_Preview.aspx |