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The City of Calgary mailed out 2014 Property Assessments on Friday, and the biggest trend we're noticing is that home values in the city are hitting levels not seen since the 2007-08 real estate boom. With the exception of the hardest flood-hit communities (who saw sharp declines in value), the rest of the city saw an increase of 6%.

 

To put that into perspective, the average home in Calgary is now valued at $430,000, which is up from $410,000 a year ago.

 

That’s the highest level since 2008, when the boom lifted the median price to a record $447,500.

 

“We have certainly seen a really strong increase, and certainly a resetting of some of those values back before some of the financial crisis happened,” said city assessor Nelson Karpa. - Calgary Herald


Northeast communities, and those connected to Nose Hill and Fish Creek Parks, saw the biggest increases in value; Roxboro and Elbow Park saw the sharpest declines in property value.


Now until March 4th, is the customer review period, and you can find out more information from the City on their website.

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