List of most expensive homes shows values sliding

Jan 2, 2024 | 3:00 PM Pete McIntyre

courtesy of Priscilla and Company Re/Max Priscilla)A home in Coldstream remains the most expensive residential property in Greater Vernon, but its value, along with others in that category, has decreased over the past year.

In its report of the 2024 top valued residential properties in the Southern Interior, BC Assessment says a waterfront home at 12990 Pixton Road in Lake Country tops the list with a value of $16.9 million, which is down from the $17.3 million in 2023.

Waterfront home at 12990 Pixton Road in Lake Country is the most expensive home in the Southern Interior with a value of $16.9 million. (Photo credit: Chamberlain Property Group)

The mansion along Okanagan Lake, is listed for sale for $18.8 million.

Another waterfront property, at 4358 Hobson Road in Kelowna, was the runner-up at $14,028,000, while a lakefront acreage at 18250 Juniper Cove Road in Lake Country was third at $13.7 million.

A property described as a luxury estate at 12407 Coldstream Creek Road in Coldstream bordering Kalamalka Lake, is ninth on the list — and tops in Greater Vernon.

It was assessed at $10,867,000, although that same home was valued at $12.2 million last year. The roughly $1.4 million decrease in value works out to about 11 per cent.

The home is currently listed for sale for $15.9 million.

(Video courtesy of Priscilla and Company – Re/Max Priscilla)

Boris Warkentin from BC Assessment said most homeowners in the Southern Interior are seeing modest changes to their values due to slower sales activity.

“With the softer real estate market, most changes in home values will be somewhere between -10 per cent to +5 per cent in the Thompson-Okanagan communities whereas Kootenay Columbia changes are slightly more at -10 per cent to +10 per cent,” Warkentin said.

Coldstream had two other properties make the top 100: one at 8200 Kalavista Drive was valued at $9.8 million and another at 13100 Kinloch Drive which came in at just over $7-million.

A home at 7520 Tronson Road, listed at $6.6 million, was the highest valued property in Vernon, placing 100th on the list.

Click here to see the complete list.