Coldstream is home to the sixth most expensive home in the Thompson-Okanagan region, and the house is currently listed for sale.
BC Assessment’s list of the 100 priciest properties for 2023 includes the home at 12407 Coldstream Creek Road, which is valued at $12,216,000 as of July 1, 2022.
The waterfront home on Kalamalka Lake is millions of dollars more expensive than it was the previous year; last year it was valued at $9,649,000, which means this year’s valuation represents a 27 per cent increase.
Built in 2017, the house sits on 1.875 acres of land and has six bedrooms and 10 bathrooms.
The home is also listed for sale, and the sellers are looking for a haul; the asking price on Realtor.ca is $19.9 million.
According to the listing, the home is just shy of 17,000 square feet and has 18 total parking spaces.
The most expensive house in the Thompson-Okanagan is located on Pixton Road in Lake Country, valued at $17.3 million.
More than 289,000 properties across the entire Okanagan will be receiving their assessment in the mail, reflective of market value as of July 1, 2022.
“Homeowners throughout the Okanagan can generally expect to receive assessments that are up about 10 per cent to 15 per cent for houses while condos and townhomes are up a bit higher,” said Okanagan Deputy Assessor Tracy Wall. “Assessments are valued as of July 1, meaning everyone’s annual assessment is a reflection of what your home could have sold for around that time.”
In Vernon, the average single family home went up 11 per cent in assessed values since last year, from an average of $644,000 to $714,000. In Coldstream, the average increase was slightly lower at nine per cent, from $816,000 to $887,000.
Both Enderby and Armstrong saw average increases of 15 per cent. In Enderby the average value went from $467,000 to $538,000, while in Armstrong the value rose from $578,000 to $663,000. In Lumby, the average increase was 13 per cent, from $502,000 to $568,000. Spallumcheen saw a 12 per cent increase, from $521,000 to $586,000.
Overall, the Thompson-Okanagan’s total assessments increased from $203.7 billion in 2022 to $234.3 billion in 2023. A total of about $3.8 billion of the region’s updated assessments is from new construction, subdivisions and rezoning.