BC Assessment Watch — Attached Homes | July 2026
Tri-Cities Condos and Townhomes Are Listing Just Below BC Assessment in 2026 — What That Means for Buyers and Sellers
If you are buying or selling a condo or townhome in Coquitlam, Port Moody, or Port Coquitlam right now, one number is telling a clear story: the average list price for attached homes in the Tri-Cities is sitting at 98.6% of BC Assessment value — just below par. Across 1,166 matched properties analyzed this week, far more sellers are pricing below what BC Assessment recorded on January 1, 2026 than above it. That skew is not a pricing error — it reflects genuine market softening since the assessment date, and it has direct, practical implications for how buyers should negotiate and how sellers should price. Browse current Tri-Cities listings →
BC Assessment sets property values once per year, fixed to January 1. By mid-2026, the Tri-Cities attached market has shifted considerably from where it was at that snapshot. Of the 1,166 condos and townhomes analyzed, 532 properties — roughly 46% — are listed near their assessed value, meaning those sellers are pricing close to the government benchmark. But 254 properties, or about 22%, are listed below assessed value, suggesting many owners have adjusted to a softer market. On the other end, only 22 properties are listed well above their assessed value — less than 2% of the sample — indicating that ambitious premiums over assessment remain rare. The dominant signal here is that when sellers deviate from the January benchmark, they overwhelmingly price below it, not above it. For buyers, this is negotiating context. For sellers, it is a pricing reality check.
BC Assessment vs list price · Attached homes · Tri-Cities
How do list prices compare to BC Assessment?
All cities — Attached
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Key takeaways
The average list-to-assessed ratio across attached properties with an assessment on file is 98.6%, meaning the typical condo or townhome in the Tri-Cities is listed at roughly $986,000 for every $1,000,000 of assessed value. The average is close to par, but the distribution leans down: listings priced below assessment outnumber those priced above it by more than ten to one. That tells sellers that pricing well above assessed value is out of step with the current market.
532 of the properties analyzed are listed near their BC Assessment value, within roughly 15% of it. These are the listings most likely to attract serious buyer attention because they reflect a realistic alignment between government valuation and current market expectations. Buyers targeting this middle band should still conduct a comparative market analysis, but these properties represent the most straightforward negotiating ground in the Tri-Cities attached segment right now.
About 22% of attached listings are priced below their BC Assessment. This does not automatically make them bargains — assessed values lag the market, and a below-assessment price can reflect condition, a dated layout, or simply realistic pricing in a softer segment. Buyers should request a full comparable sales analysis before offering on any property in this category. The burden of proof sits with recent sold data, not the assessment.
Despite pockets of strength, listings priced more than 15% over assessment represent less than 2% of the attached inventory analyzed. Sellers hoping to command a substantial premium over their assessed value in Coquitlam, Port Moody, or Port Coquitlam face long odds. The market has softened without collapsing. Sellers are adjusting to reality, not panicking — and that distinction matters when setting offer strategy.
Frequently asked questions
Common questions answered
What is BC Assessment and how is it calculated in 2026?
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.
How does BC Assessment affect home prices in Coquitlam, Port Moody, and Port Coquitlam?
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 98.6% of BC Assessment, which means the market is sitting just 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.
Should I offer below BC assessed value on a condo or townhome in the Tri-Cities in 2026?
In the current Tri-Cities market, the average attached home is listed at 98.6% of its BC assessed value, meaning the typical seller has priced just below assessment. Offering meaningfully below that 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.
Is BC Assessment an accurate measure of what a home is worth in Coquitlam in 2026?
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 about 1% below assessed value, with listings priced below assessment far outnumbering those priced above it, a sign 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.
How should I use BC Assessment when buying a home in the Tri-Cities in 2026?
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 98.6%. 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.
Sebastian Czarkowski
REALTOR® · Royal LePage Elite West · Coquitlam, BC
Questions about buying or selling in the Tri-Cities? Reach out directly.
Data sourced from Paragon MLS® system · 06-July · For educational purposes only. Not intended as financial or legal advice.
Sebastian Czarkowski, REALTOR® | Royal LePage Elite West | sebastianrealestate.ca