The most expensive residential property in the Okanagan is located in Kelowna.
According to the Thompson Okanagan 2020 Property Assessment, a mansion at 4358 Hobson Road is valued at a whopping $10.3 million.
Ranking second on the list is a mansion at 12990 Pixton Road in Lake Country, valued at $10.2 million.
The third is a property in the city of West Kelowna at 1683 Pritchard Drive. That house is valued at $9.6 million.
According to BC Assessment, the value of single-detached houses in the Kelowna/Okanagan areas have fluctuated, however on average the city of Kelowna has seen a drop of two per cent from July 1, 2018, to July 1, 2019.
In July of 2018 single-family homes in Kelowna had an average assessed value of $643,000 and on July 1, 2019, the value dropped to $629,000.
In the next few days, owners of more than 280,000 properties throughout the Thompson Okanagan will begin to receive their 2020 assessment notices, which reflect market value as of July 1, 2019.
“For the Okanagan region, the majority of home owners can expect to see stable values with slight changes from last year,” said Okanagan area deputy assessor Tracy Wall. “Commercial and industrial properties have shown increases, especially in the North Okanagan.”
“Throughout the Thompson, the majority of homeowners can expect an increase in value compared to last year,” said Thompson area deputy assessor Tracy Shymko. “Comparing July 2018 and July 2019, home values have risen consistently for most of Kamloops and the Thompson with a few communities seeing increases slightly higher than others, especially in Clinton, Lillooet, Ashcroft and Lytton.”
BC Assessment’s website at bcassessment.ca includes more details about 2019 assessments, property information and trends such as lists of 2019’s top valued residential properties across the province.