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#AddressDate SoldSold PriceAssessed ValuePercentage Difference
R22479546XXX LARCH ST VANCOUVER3/19/2018$2,700,000$3,484,300-22.51
R22423014XXX 11TH AVE W VANCOUVER3/6/2018$2,880,000$3,704,600-22.26
R22299982XXX 15TH AVE W VANCOUVER3/6/2018$2,485,000$3,087,000-19.5
R22436441XXX 47TH AVE W VANCOUVER3/3/2018$3,700,000$4,516,600-18.08
R22462232XXX 11TH AVE W VANCOUVER3/21/2018$2,090,000$2,540,100-17.72
R22386091XXX 36TH AVE W VANCOUVER3/1/2018$3,300,000$3,956,300-16.59
R22477473XXX MAYFAIR AVE VANCOUVER3/19/2018$2,888,000$3,413,000-15.38
R22004983XXX KING EDWARD AVE W VANCOUVER3/1/2018$2,500,000$2,861,000-12.62
R22381624XXX DONCASTER WAY VANCOUVER3/3/2018$3,588,000$4,014,600-10.63
R22381723XXX VIMY CRES VANCOUVER3/13/2018$1,688,888$1,886,000-10.45
R2244555XXX AUBREY PL VANCOUVER3/9/2018$1,663,000$1,854,000-10.3
R22392221XXX GEORGIA ST E VANCOUVER3/16/2018$1,259,000$1,392,000-9.55
R2231651XXX 51ST AVE E VANCOUVER3/5/2018$1,470,000$1,619,000-9.2
R22501102XXX SLOCAN ST VANCOUVER3/25/2018$1,250,000$1,374,700-9.07
R22453091XXX 42ND AVE W VANCOUVER3/13/2018$2,470,000$2,699,900-8.52
R22446804XXX ANGUS DR VANCOUVER3/5/2018$6,500,000$7,091,000-8.33
R22423602XXX 39TH AVE W VANCOUVER3/26/2018$3,020,000$3,263,500-7.46
R22468142XXX 21ST AVE W VANCOUVER3/15/2018$2,355,000$2,530,500-6.94
R22437373XXX 2ND AVE W VANCOUVER3/6/2018$2,820,000$3,027,000-6.84
R22458002XXX 28TH AVE W VANCOUVER3/19/2018$3,080,000$3,305,000-6.81
R22354473XXX TUPPER ST VANCOUVER3/12/2018$2,000,000$2,141,600-6.61
R22450461XXX 13TH AVE E VANCOUVER3/15/2018$1,699,000$1,812,000-6.24
R22440102XXX 32ND AVE E VANCOUVER3/9/2018$1,350,000$1,434,100-5.86
R22346352XXX 41ST AVE W VANCOUVER3/2/2018$2,950,000$3,133,000-5.84
R22446096XXX ARLINGTON ST VANCOUVER3/11/2018$1,530,000$1,620,800-5.6
R22470571XXX CYPRESS ST VANCOUVER3/15/2018$2,980,000$3,148,200-5.34
R22452762XXX PRINCE ALBERT ST VANCOUVER3/12/2018$1,208,000$1,268,400-4.76
R22422512XXX 10TH AVE W VANCOUVER3/5/2018$2,500,000$2,621,000-4.62
R22364523XXX WAVERLEY AVE VANCOUVER3/6/2018$1,300,000$1,353,100-3.92
R22428613XXX 30TH AVE W VANCOUVER3/10/2018$3,980,000$4,136,000-3.77
R22457583XXX KING EDWARD AVE W VANCOUVER3/12/2018$2,390,000$2,482,000-3.71
R22288184XXX COMMERCIAL ST VANCOUVER3/6/2018$1,386,000$1,439,000-3.68
R22437973XXX 33RD AVE W VANCOUVER3/15/2018$2,850,000$2,952,700-3.48
R22397216XXX LANARK ST VANCOUVER3/11/2018$1,520,060$1,566,500-2.96
R22457257XXX FRASER ST VANCOUVER3/12/2018$1,400,000$1,428,000-1.96
R22347392XXX 47TH AVE E VANCOUVER3/2/2018$1,310,000$1,336,100-1.95
R22454882XXX GARDEN DR VANCOUVER3/12/2018$1,640,000$1,666,000-1.56
R2245198XXX 11TH AVE E VANCOUVER3/19/2018$1,651,000$1,676,100-1.5
R22446021XXX 27TH AVE E VANCOUVER3/18/2018$1,598,000$1,618,200-1.25
R22344246XXX FREMLIN ST VANCOUVER3/1/2018$4,950,000$5,007,000-1.14
R22295833XXX 24TH AVE W VANCOUVER3/2/2018$3,788,000$3,822,000-0.89
R22424533XXX 34TH AVE W VANCOUVER3/6/2018$3,970,000$4,000,000-0.75
R2244719XXX 63RD AVE W VANCOUVER3/14/2018$1,950,000$1,962,500-0.64
R22427745XXX BATTISON ST VANCOUVER3/6/2018$1,960,000$1,961,000-0.05
R22266036XXX BEATRICE ST VANCOUVER3/10/2018$1,850,000$1,840,0000.54
R22300561XXX GARDEN DR VANCOUVER3/14/2018$1,550,000$1,536,4000.89
R22395098XXX ELLIOTT ST VANCOUVER3/16/2018$2,170,000$2,147,2001.06
R22370985XXX LINCOLN ST VANCOUVER3/8/2018$2,058,800$2,031,0001.37
R22408772XXX 18TH AVE E VANCOUVER3/9/2018$1,365,000$1,346,0001.41
R22450653XXX DIEPPE DR VANCOUVER3/13/2018$1,450,000$1,425,3001.73
R22414922XXX KEITH DR VANCOUVER3/1/2018$1,900,000$1,858,3002.24
R2202969XXX 63RD AVE E VANCOUVER3/2/2018$1,625,000$1,586,0002.46
R2237132XXX 50TH AVE E VANCOUVER3/16/2018$2,275,000$2,219,0002.52
R224503427 49TH AVE E VANCOUVER3/7/2018$1,808,000$1,745,0003.61
R22455874XXX HARRIET ST VANCOUVER3/22/2018$1,725,000$1,664,0003.67
R2248509XXX 24TH AVE E VANCOUVER3/19/2018$1,577,000$1,517,1003.95
R2233158XXX 13TH AVE E VANCOUVER3/2/2018$1,760,000$1,691,0004.08
R22471672XXX NAPIER ST VANCOUVER3/17/2018$1,348,000$1,292,1004.33
R22338033XXX MAYFAIR AVE VANCOUVER3/13/2018$4,580,000$4,387,0004.4
R2248683XXX ATLANTIC ST VANCOUVER3/28/2018$1,668,000$1,595,0004.58
R22418581XXX 5TH AVE E VANCOUVER3/1/2018$2,100,000$1,986,0005.74
R2247118XXX 17TH AVE W VANCOUVER3/15/2018$2,800,000$2,633,0006.34
R224224546 47TH AVE E VANCOUVER3/10/2018$2,888,000$2,702,0006.88
R2244648XXX RUPERT ST VANCOUVER3/12/2018$1,320,000$1,230,9007.24
R22440244XXX WINDSOR ST VANCOUVER3/4/2018$1,695,000$1,563,0008.45
R22353672XXX UPLAND DR VANCOUVER3/3/2018$1,528,000$1,409,0008.45
R22448523XXX 16TH AVE W VANCOUVER3/12/2018$2,820,000$2,586,0009.05
R22349923XXX GEORGIA ST E VANCOUVER3/6/2018$1,205,000$1,102,8009.27
R22472224XXX BALDWIN ST VANCOUVER3/8/2018$1,650,000$1,463,90012.71
R22401824XXX 15TH AVE W VANCOUVER3/8/2018$4,400,000$3,852,00014.23
R22241081XXX THE CRESCENT VANCOUVER3/4/2018$4,850,000$4,231,00014.63
R22352372XXX 45TH AVE E VANCOUVER3/8/2018$1,620,000$1,404,80015.32
R22467531XXX GARDEN DR VANCOUVER3/20/2018$1,756,000$1,498,00017.22
R22377793XXX 7TH AVE E VANCOUVER3/11/2018$2,266,667$1,694,00033.81
R22440182XXX 6TH AVE W VANCOUVER3/16/2018$2,708,000$1,998,00035.54
R22452272XXX CHARLES ST VANCOUVER3/16/2018$2,180,000$1,501,00045.24
R22444106XXX FRASER ST VANCOUVER3/7/2018$1,390,000$932,60049.05

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

One Response to Most Vancouver houses sold below assessment in March

  1. nonconfidencevote says:

    Gee waht a shame.
    Stratospheric Housing prices finally flew too close to the Sun and they are beginning to fall back to planet Earth.

    Not to worry Realtors.
    You still get your commish, just not the fat juicy commish you’re normally used to …..

    Wait til April, May and June numbers come out…..

    Fugly is my word of the week.
    Can you say “Fugly”?
    I knew you could.

    🙂

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