When using the comparable sales approach to value a Vancouver detached home, which factor typically requires the largest adjustment?
Correct Answer
B) Location, including neighbourhood, lot size and nearby amenities and transit
In Vancouver's diverse and high-value real estate market, location is consistently the most significant factor requiring adjustment. Differences in neighbourhood desirability, lot size, views, proximity to transit (e.g., SkyTrain), schools, and amenities can result in hundreds of thousands of dollars of value difference between otherwise similar homes.
Why This Is the Correct Answer
Option B is correct because in Vancouver's diverse and high-value real estate market, location — including neighbourhood desirability, lot size, proximity to transit (SkyTrain), schools, amenities, and views — consistently requires the largest adjustment when comparing properties. The difference between an east-side and west-side Vancouver lot of the same size can be hundreds of thousands of dollars, driven purely by location factors.
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