By ThinkPol Staff

The number of Vancouver detached houses selling below assessed value in April outnumbered those selling for more, with some going as low as 27% below, making it the third month in row that a majority of Vancouver single family homes sold under assessment.

The MLS sales data, which was provided to ThinkPol by an industry source, show 57 out of the 113 of the single family homes sales recorded in the system as of May 1 in Vancouver sold below 2018 assessed value.

Once again, the biggest drops were recorded Vancouver Westside with the biggest gains to be seen in East Vancouver.

The biggest loser was a Point Grey home, which sold for 27% below assessed value.

The biggest gainer was a house on Marine Drive, which was sold for nearly double the assessed value after the property became eligible for higher density rezoning under the Marpole Community Plan .

Most of the other houses that sold for well above assessed were built since the last assessment.

2018 property assessment values reflects what was happening around BC Assessment’s uniform valuation date of July 1, 2017 .

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.