The City of Calgary has released the 2018 property assessments for residential and non-residential buildings. The city assessed the median value for stand alone houses at $480,000, up from $460,000 in 2017. However, for condominiums, the median assessed value was $260,000 down from $270,000 in 2017. This was attributed to the fact that there is a growing supply of condominiums in Calgary. Overall, residential values had an increase of two percent in 2018.
“While overall residential values experienced an increase of two per cent for 2018, single-residential homes were generally higher, with condominiums experiencing a slight decrease in value for 2018,” said Harvey Fairfield, acting director of city assessment.