Chapter 02
Understanding Price & Value
A list price, an assessed value, a market value, and an offer price are different concepts. Understanding the distinction helps you think clearly about what a property is worth to you.
List Price
The price at which a property is offered for sale. It is a marketing decision that may be informed by analysis, but it is not a guarantee of the eventual sale price or a statement of what you should pay.
Assessed Value
An assessed value produced by BC Assessment for property taxation purposes as of a specific valuation date. It is not the same as market value. Refer to official BC Assessment resources for a property.
Visit BC Assessment ↗Market Value
An estimate of what a property might sell for in current market conditions, based on comparable sales, condition, location, and other factors. It is an opinion that may change over time.
Offer Price
The amount you choose to offer in a Contract of Purchase and Sale. It is one term among many and does not by itself determine the strength of an offer. What to offer is your decision to discuss with your real estate professional.
What Can Influence a Property's Market Context?
These factors may contribute to understanding a property's market context. None individually determine a price, and this is not an automated valuation.
This website does not provide an automated valuation or tell you what to pay. For an opinion related to a specific property, consult a licensed real estate professional. Contact Roland →
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