Three quarters of Metro Vancouver homes sold below assessed value in 2026
Zealty.ca data shows 18,168 of 24,426 homes sold between January and late October closed below their BC Assessment valuation, as new Vancouver councillors prepare to take office.
Reported. A news outlet found this. voche.me names the outlet and links its report. Read the original report on vancouversun.com.
The Vancouver Sun reported Sunday that three-quarters of homes sold across Metro Vancouver and the Fraser Valley in 2026 closed below their BC Assessment Authority valuation, citing data from Zealty.ca, a BC real estate data platform.
Zealty.ca figures show 18,168 of the 24,426 homes sold between January 1 and October 25, 2026 closed below the 2026 BC Assessment Authority valuation. That valuation was set on July 1, 2025, meaning it reflects prices from 15 months ago, not from today.
Hamidreza Etebarian, president of Zealty.ca, told the Sun that since July, more than four-in-five homes sold below assessed value.
What the gap looks like across the region
The average sale price across Metro Vancouver and the Fraser Valley was 4.6% below assessed value, according to Zealty.ca data reported by the Vancouver Sun. Richmond and New Westminster homes were at the wide end of that gap, each selling for an average of 7.1% below assessed value.
The BC Assessment Authority sets property values once a year, using market data from July 1 of the prior year. Because home prices have moved since July 2025, the gap between assessed value and sale price has grown through 2026.
A home listed at assessed value may be priced above where the market sits today.
Why assessed value and sale price differ
BC Assessment Authority valuations are used to calculate property taxes, not to set sale prices. They are a snapshot of the market as it was 12 to 18 months before the current date.
When market prices fall after the valuation date, assessed values can end up higher than what buyers will pay. When prices rise, assessed values can be lower.
The 2026 valuations reflect conditions as of July 1, 2025. Homes listed and sold today are trading in a different market.
What comes next for Vancouver's housing decisions
Vancouver City Council holds its first meeting under newly elected councillors on November 2, 2026. Housing affordability was a leading issue across the October 17 election. The incoming council's plans for rental housing, rezoning and property taxes will be set in the weeks ahead.
Sellers in Metro Vancouver can compare their assessed value to recent sold prices using Zealty.ca at zealty.ca. The Vancouver Sun's full reporting is at the link below, behind a paywall.
Questions this story answers
What share of Metro Vancouver homes sold below assessed value in 2026?
According to Zealty.ca data reported Sunday by the Vancouver Sun, 18,168 of the 24,426 homes sold in Metro Vancouver and the Fraser Valley between January 1 and October 25, 2026 closed below their BC Assessment Authority valuation. That valuation was set on July 1, 2025. The share works out to 74.4% of sales.
What is BC Assessment Authority valuation, and why does it differ from sale price?
BC Assessment Authority sets a value for each property once a year, based on market conditions as of July 1 the previous year. The 2026 valuations reflect July 2025 prices, not October 2026 prices. When the market falls after the valuation date, homes can sell below that number. The assessed value is used for property taxes, not as a guide to current sale price.
How much below assessed value are homes selling on average?
The Vancouver Sun reports, citing Zealty.ca data, that on average homes sold for 4.6% less than their assessed value between January and October 25, 2026. Richmond and New Westminster homes were among the worst performers, each selling for an average of 7.1% below assessed value.
Has the gap between sale prices and assessed values been getting larger?
Yes, according to Zealty.ca president Hamidreza Etebarian, as reported by the Vancouver Sun. Through all of 2026 to October 25, more than three-quarters of homes sold below assessed value. Since July alone, the rate climbed above four-in-five.
Does this affect what Vancouver's new councillors will face in housing policy?
Vancouver City Council holds its first meeting under newly elected members on November 2, 2026. The incoming council has said housing affordability is a priority. A falling resale market changes the tax base and the context for new housing decisions, though the new council's specific plans have not been set.
Where does this data come from?
The data comes from Zealty.ca, a BC real estate data platform that tracks sold prices and assessment records. The Vancouver Sun reported the figures on November 1, 2026, citing Zealty.ca and its president Hamidreza Etebarian. The Vancouver Sun story is behind a paywall.
Do all parts of Metro Vancouver perform the same way?
No. The Vancouver Sun reports, citing Zealty.ca, that Richmond and New Westminster were among the worst performers, each at an average of 7.1% below assessed value. The data covers Metro Vancouver and the Fraser Valley as a whole, and results vary by area.
What can a buyer or seller in Vancouver do with this information?
Sellers listing a home should know that assessed value is based on July 2025 prices and may not reflect what buyers will pay today. Buyers can use sold data from Zealty.ca at zealty.ca to check what similar homes have sold for recently. The City of Vancouver's housing pages are at vancouver.ca/home-property-development.
Sources
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