Suburban areas fuel 12 per cent increase in value of Calgary residential homes yyc yyccc
The city’s typical single residential property is now worth $555,000, a 14 per cent increase compared to $485,000 last year. The median residential condo is worth $255,000, a nine per cent year-over-year boost.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“What we’re seeing is a great year for Calgary in terms of the real estate market. We’re seeing both non-residential and residential properties in general increase in value.”Article contentValues of suburban homes grew about 16 per cent, a significantly greater jump over what was logged in communities closer to the core.
City of Calgary assessor Eddie Lee speaks during a briefing on 2023 property assessments on Wednesday, January 4, 2023.The city issued more than 565,000 property assessments Wednesday, with those notices expected to arrive by mail within two weeks. A review period during which property owners can ask questions about their assessment or file complaints will be open until March 13.
The total assessed value of all property in Calgary increased by $38.2 billion from last year, according to the city. The total 2022 assessment roll sits at $351.7 billion.Those numbers represent a continued bounceback for the city’s property values after several years of contraction; the value of the city’s assessment roll increased by about $14 billion in 2021, the first growth recorded since 2018.
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