Home prices are dropping in the Central Okanagan.

Property assessments are out and 琉璃神社鈥檚 single-family residences have dropped three per cent to an assessed value of $953,000. West 琉璃神社 single-family homes dropped by five percent to an average of $912,000 while Lake Country holds the highest average price in the Central Okanagan, dropping just two per cent to $955,000. Peachland homes dropped just one percentage point but stayed the lowest in the region at an average of $884,000.

Rural residential properties were the only exception with a minimal increase of 0.8 per cent.

Industrial and business properties, however, have seen significant increases. West 琉璃神社鈥檚 light industrial property assessments are up an average of 45.3 per cent while 琉璃神社鈥檚 is up 21.2 per cent.

Business properties in the Central Okanagan have gone up anywhere from six to 17 per cent.

The highest valued property in the region is in Lake Country at 12990 Pixton Road. The five bed, nine bath home was built in 2009 and has a property value of $16,987,000, an increase of more than half-a-million dollars from the previous assessment.

Property owners can find a more detailed report on their land at .

鈥淧roperty owners can find valuable information on our website including answers to many assessment-related questions. Those who feel that their property assessment does not reflect market value as of July 1, 2023, or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,鈥� said Southern Interior Deputy Assessor Boris Warkentin. A notice of complaint can be submitted by Jan. 31.

Property assessments are reflective of July 1, 2023.

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