In the market for a new crib? Well, you’re in luck because according to the city’s new assessment report, the median value of a home in Calgary has actually dropped a whopping $10,000 over the last year.
This was determined based on an assessment done on the market value of a residential property’s building and land and is also used to calculate each owner’s share of taxes. Unfortunately, for those who are hoping to sell a home in 2021, this probably won’t come as the best news. But as we’re sure you know, the value of a Calgary home could take a complete 180 next year.
According to the City of Calgary, this 2021 assessment applies to 2-storey detached homes, which are now valued at around $445,000 as opposed to $455,000 in 2019, and condominiums; which were assessed at 235,000, instead of $245,000 in 2019.
Honestly, in the grand scheme of things (the grand scheme being how much it still costs to buy a place in YYC), maybe $10k doesn’t sound like a lot to some of you, but it could seriously help some people out – and that’s great, especially considering everything going on right now. Every dollar makes a difference, folks!