BC Assessment vs Market Value: What Your Coquitlam Home Is Really Worth
When homeowners ask me what their place is worth, most already have a number in mind: their BC Assessment. It is a useful figure, but it was never designed to tell you what a buyer will pay. Here is how I explain the difference, and how I actually price a home before it goes on the market.
The short version
Your BC Assessment estimates what your property was worth on July 1 of last year, so that property taxes are shared fairly. Market value is what a buyer will pay for your particular home today. The two are often close, but they can differ by a meaningful amount in either direction, and the gap usually comes down to timing and to the details of your home.
What your BC Assessment actually measures
BC Assessment values every property in the province once a year. The notice most owners receive in early January reflects the property's market value on July 1 of the previous year, and its physical condition and permitted use as of October 31. So the 2026 assessment describes the market as it stood on July 1, 2025.
Its purpose is property taxation. Within a tax area, properties of equal value pay the same tax, which is why everything is valued on the same date and on the same basis. Appraisers work from recent sales and the information on file for each property: location, size, age, view, features like a garage or deck, and building permits.
That is a sound way to value an entire neighbourhood at once. It is not the same as walking through your home and comparing it, room by room, with the homes buyers are touring this month.
Why your sale price can land higher or lower
Timing
A home listed this fall is being measured against a value set on July 1, 2025. That is more than a year of market movement the assessment cannot see, and the market can move in either direction.
The details that set your home apart
- Recent updates. A kitchen or bathroom finished after October 31 of last year will not be reflected yet, and work that BC Assessment has no record of may not be reflected at all.
- Layout, light and outlook. Buyers respond to how a home lives, which is hard to capture in a property record.
- Condition and upkeep. A roof, windows or furnace near the end of their life can matter as much as square footage.
- Parking, storage and outdoor space. Small things on paper, big things to a buyer with two cars or a dog.
For condos and townhomes, the strata
Buyers look closely at the building: the monthly fees, the contingency reserve fund, any special levies, the last two years of council minutes and the depreciation report. A well-run strata with healthy reserves supports a stronger price, while an upcoming levy can do the opposite. None of that appears on an assessment notice.
Who is buying right now
In the end, price is set by the buyers who are active when you list: how many there are, what they can borrow and what else is for sale nearby. Interest rates play a big part in that, which I covered in what interest rates mean for buyers in Greater Vancouver and the Fraser Valley.
How I price a home for sale
A proper evaluation starts with a visit, so I can see the home the way a buyer will. From there I put together a comparative market analysis built on three kinds of evidence.
What buyers just paid
Comparable homes that sold nearby in recent months, adjusted for size, age, condition, view and, for strata homes, fees and the health of the building.
Your competition
The homes buyers will see alongside yours. They shop by comparison, so your price has to make sense next to these.
What did not sell
Homes that sat without selling are often the clearest sign of where buyers drew the line.
Then we talk strategy. A home priced in line with the evidence tends to draw the most attention in its first few weeks, when interest is highest. Overpricing usually costs more than it gains, because a listing that lingers starts to raise questions for buyers.
What about online home value estimates?
Instant online estimates are fine for curiosity. They work from public records and past sales, so like the assessment they cannot see your renovation, your view or the state of your strata. Treat them as a rough range rather than a price.
Questions sellers often ask me
Can my home sell for more than its assessed value?
Yes, and it can also sell for less. The assessment and the sale price measure different things at different times, so neither one predicts the other.
Does my assessment include my renovation?
Not always. The assessment reflects your home's condition as of October 31 of the previous year, based on the information BC Assessment holds. Work finished after that date, or work it has no record of, may not be included.
Should I appeal my assessment before I sell?
An appeal is about your property taxes, not your sale price. If you believe your assessment is wrong, the deadline to file a notice of complaint is January 31. Buyers and their agents will focus on recent sales either way.
How do I find out what my home would sell for?
Ask a local REALTOR® for a market evaluation. Mine is free and there is no obligation to list. You can request a home evaluation online, or read more about how I help sellers.
If you are buying your next home at the same time, it pays to get pre-approved early so you know your budget before you set a selling timeline. And if you are moving within Coquitlam, I compared two popular neighbourhoods in Burke Mountain vs Westwood Plateau.
Curious what your home would sell for today?
I would be glad to put together a free market evaluation, with no pressure and no obligation. Call or text 778-834-1706, email silvana@silvanaazurdia.ca or request an evaluation online. Happy to help in English or Spanish.
This article is general information, not an appraisal or tax advice. For details about your own assessment, visit BC Assessment.
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