Calgary residential property values soar by 15% in 1 year [Video]

The City of Calgary says close to 600,000 property assessments are in the mail.

The assessments, which are used to help determine how much property tax Calgarians are expected to pay, are based on the property’s estimated value on July 1, 2024 and the physical condition of the property on Dec. 31, 2024.

Overall the city says the typical market value of a residential property increased by 15 per cent over the previous year, while the typical market value of a non-residential property increased by three per cent.

Among the highlights of this year’s assessments:

The median value for a single residential property is $697,000 compared with $610,000 in 2024.
The median value of a condominium is $359,000, up from $295,000 the previous year.
Chinook Mall is the highest-valued non-residential property at $1,043,240,000.

The city says much of the increased demand for and value of residential housing is being driven by increased migration.

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For more information on property assessments, including …