Tri-Cities Condos and Townhomes Are Listing 32% Below BC Assessment in 2026 — What That Means for Buyers and Sellers

BC Assessment is a provincial Crown corporation that determines the market value of every property in British Columbia as of January 1 each year. In 2026, BC Assessment used sales data, property characteristics, and neighborhood trends from late 2025 to set assessed values. These values are used primarily for calculating municipal property taxes and are not intended to serve as a real-time market price — they are always a snapshot from six or more months in the past by the time buyers and sellers are using them.

BC Assessment does not set home prices, but it heavily influences buyer and seller psychology in the Tri-Cities. In July 2026, the average list price for condos and townhomes across the Tri-Cities is at 67.8% of BC Assessment, which means the market has moved below the January 1 benchmark. Buyers often use assessed value as a reference point when forming offers, and sellers sometimes anchor their asking price to assessment — which is why understanding the current ratio matters for both sides of a transaction.

In the current Tri-Cities market, the average attached home is already listed at 67.8% of its BC assessed value, meaning sellers have already priced below assessment. Offering below an already-adjusted list price requires justification from recent comparable sales, not just the assessed value alone. The assessed value is a January 1 snapshot; what matters more is what similar units have actually sold for in the past 30 to 60 days. Work with a REALTOR® who can pull current sales data to support your offer price.

BC Assessment provides a useful baseline, but it is not an accurate real-time market value in Coquitlam or elsewhere in the Tri-Cities in 2026. Assessed values are fixed to January 1 and do not reflect price changes that occur during the year. As of July 2026, list prices for Tri-Cities condos and townhomes average 32% below assessed value, confirming that the market has softened since the assessment date. For an accurate current valuation, a comparative market analysis based on recent sold data is far more reliable than the assessed value alone.

When buying a condo or townhome in Coquitlam, Port Moody, or Port Coquitlam in 2026, use BC Assessment as a directional reference, not a definitive price guide. Start by checking where the list price sits relative to assessed value — in July 2026, the market average is 67.8%. If a property is listed well above its assessed value, ask your REALTOR® to justify the premium with recent comparable sales. If it is listed near or below assessment, that alignment with current market conditions may indicate a more realistically priced opportunity. Always combine assessment data with active listings, recent solds, and days-on-market before making an offer.