How much is my house worth?

The only way to know for certain is a sale. Everything before that is an estimate built from the closest thing to it. A comparative market analysis gets there by finding homes truly like yours that sold recently nearby, adjusting for the differences (size, condition, lot, updates), and reading what current demand is doing to those numbers. That’s a different, more careful process than a computer matching your square footage against a database, and it’s why a REALTOR® and an online estimate can land tens of thousands apart on the same home.

What’s the difference between BC Assessment value and market value?

BC Assessment sets a value on every property once a year, based on sales from the previous July, and it exists to divide up property tax fairly across a municipality, not to price a listing. By the time you read your assessment notice, it can already be six or more months out of date, and a fast-moving or slow-moving market can pull the two numbers apart from there. It’s a reasonable sanity check and nothing more: the number a buyer will actually pay is set by today’s market, not last July’s.

Are online home value estimates accurate?

They’re a fine starting point and a poor final answer. An automated estimate works from public records and recent sales in the area, run through a formula. It has never walked through your kitchen, doesn’t know you finished the basement, and can’t tell a true comparable from a similar-looking home three blocks over with a busier street or a worse view. The gap tends to be widest on homes that are unusual, recently renovated, or sitting on a street the algorithm treats as interchangeable with a less desirable one. Treat the number as a rough range, not a listing price.

Does a home valuation cost anything?

No. A comparative market analysis from a REALTOR® is a normal part of the job, done before you’ve committed to anything, and there’s no cost and no obligation to list. It costs you a conversation and, ideally, a look through the home, and you walk away with a number grounded in comparables instead of a formula.

How often should I check what my home is worth?

Once a year is plenty for most owners just keeping a general sense of things, and it’s worth doing again any time something changes: a renovation, a shift in the local market, or simply getting serious about a move. If you’re actively thinking about selling in the next year, a fresh, in-person read closer to the time matters more than an annual check, because markets move month to month, and a number from eight months ago can already be stale.

What’s a comparative market analysis?

A comparative market analysis (CMA) is a written read from a REALTOR® on what your home would sell for, built from homes genuinely like yours that have sold recently nearby (adjusted for size, condition, lot, and upgrades), plus a look at what’s currently for sale and how quickly things are moving. It’s the same groundwork that sets a listing price, done up front so you know where you stand before deciding anything.

What’s my home worth?

Three numbers will all claim to answer this (your BC Assessment notice, an online estimate, and a REALTOR®’s comparative market analysis), and they can land tens of thousands of dollars apart on the same home. Only the last is built for an actual sale rather than a database match.

BC Assessment isn’t market value

Every BC property gets a value from BC Assessment once a year, based on sales from the previous July, and its whole job is dividing property tax fairly across a municipality, not pricing a home for sale. By the time the notice reaches you, that number can already be six or more months old.

It’s a fine sanity check. If yours looks wrong, how to check the notice and file a complaint by January 31 is a separate guide.

Why online estimates miss

An automated estimate runs public records and recent sales through a formula. It has never stood in your kitchen, doesn’t know about the renovation, and can’t weigh which nearby sale is genuinely the closest match. Two homes with the same square footage can be a poor comparable to each other: one backs onto a park, the other a busy road.

What moves the number

Condition. Two homes on the same Willoughby street, with the same floor plan, lot and year built, can sell for meaningfully different prices because one owner updated the kitchen and bathrooms. An estimate sees two identical addresses; a buyer sees two different homes.
The right comparable. For a Fort Langley character home, the true comparable may be a similar-vintage heritage home three streets over, not the 1990s build next door. Picking the right comparable, not just the nearest, is most of what a CMA does.
Timing and demand. A shift in interest rates or inventory can move the number within a season. Market Insights tracks Lower Mainland prices as they move.
Land. On an acreage north of Fort Langley the land can carry as much of the price as the house. It is judged on Agricultural Land Reserve status, the septic system and well, creek setbacks, and what the barn or shop is worth to the next owner.

A free, in-person comparative market analysis

A comparative market analysis (CMA) is the same groundwork a listing price is built from, done up front, before you’ve committed to anything. It costs nothing and doesn’t commit you to listing: a look through the home, a set of true comparables from recent sales, and a number grounded in your submarket right now.

A CMA is not an appraisal. If you need one for financing, your lender requires a separate report from a designated appraiser.

Common questions about home value

How much is my house worth?
The only way to know for certain is a sale. Everything before that is an estimate built from the closest thing to it. A comparative market analysis gets there by finding homes truly like yours that sold recently nearby, adjusting for the differences (size, condition, lot, updates), and reading what current demand is doing to those numbers. That’s a different, more careful process than a computer matching your square footage against a database, and it’s why a REALTOR® and an online estimate can land tens of thousands apart on the same home.
What’s the difference between BC Assessment value and market value?
BC Assessment sets a value on every property once a year, based on sales from the previous July, and it exists to divide up property tax fairly across a municipality, not to price a listing. By the time you read your assessment notice, it can already be six or more months out of date, and a fast-moving or slow-moving market can pull the two numbers apart from there. It’s a reasonable sanity check and nothing more: the number a buyer will actually pay is set by today’s market, not last July’s.
Are online home value estimates accurate?
They’re a fine starting point and a poor final answer. An automated estimate works from public records and recent sales in the area, run through a formula. It has never walked through your kitchen, doesn’t know you finished the basement, and can’t tell a true comparable from a similar-looking home three blocks over with a busier street or a worse view. The gap tends to be widest on homes that are unusual, recently renovated, or sitting on a street the algorithm treats as interchangeable with a less desirable one. Treat the number as a rough range, not a listing price.
Does a home valuation cost anything?
No. A comparative market analysis from a REALTOR® is a normal part of the job, done before you’ve committed to anything, and there’s no cost and no obligation to list. It costs you a conversation and, ideally, a look through the home, and you walk away with a number grounded in comparables instead of a formula.
How often should I check what my home is worth?
Once a year is plenty for most owners just keeping a general sense of things, and it’s worth doing again any time something changes: a renovation, a shift in the local market, or simply getting serious about a move. If you’re actively thinking about selling in the next year, a fresh, in-person read closer to the time matters more than an annual check, because markets move month to month, and a number from eight months ago can already be stale.
What’s a comparative market analysis?
A comparative market analysis (CMA) is a written read from a REALTOR® on what your home would sell for, built from homes genuinely like yours that have sold recently nearby (adjusted for size, condition, lot, and upgrades), plus a look at what’s currently for sale and how quickly things are moving. It’s the same groundwork that sets a listing price, done up front so you know where you stand before deciding anything.

Sources: BCFSA, BCREA(2)

Real Estate Services RulesBCFSA, retrieved Aug 2, 2026
BCREA Standard Forms — Listing ContractBCREA, retrieved May 22, 2026
bc.cma.overview, v1, in the Codex

Bronson Job PREC, REALTOR® at Momentum Realty Inc.. GVR Member #6015742 · FVREB Member #FJOBBR

Last reviewed August 14, 2026 by Bronson Job PREC, REALTOR®. Licence CC BY 4.0. How we verify.

I’m Bronson Job, a REALTOR® (PREC) with Momentum Realty Inc., so I earn a commission when I help someone buy or sell. This is general information, not advice on your situation, and I take no payment from any third party named here. How I verify.