What’s Your Condo Really Worth?
If you’re a Calgary Condo Owner, you’ve probably asked yourself this question more than once. Maybe you’ve checked out a few listings in your building, scrolled through recent sales, or even guessed based on what a neighbor sold for. But the truth is, valuing a condo goes far beyond just the listing price of similar units.
The good news? There’s a proven formula that takes the guesswork out of it—and it applies to any condo, in any building, regardless of its age, location, or condition. Let’s break it down.
The Core Components of Condo Valuation
Most condos are valued using a combination of these key factors:
Size (Price Per Square Foot) – Larger units typically sell for more, but price per square foot can vary significantly based on the building, floor level, and amenities.
Unit Factor (Price Per Unit Factor) – Every condo has a designated unit factor, which determines its share of ownership in the building and is often tied to condo fees. Comparing prices based on unit factor offers another way to determine fair market value.
Recent Comparable Sales – Looking at recently sold units with similar layouts, sizes, and features gives a realistic picture of what buyers are willing to pay.
Adjustments for Condition, Location, and Features – A well-maintained unit with upgrades and a prime view will naturally command a premium. The same floor plan in a less desirable location within the building (near a noisy elevator or with a limited view) may sell for less.
Financial Strength of the Building – A well-funded condo corporation with a solid reserve fund reassures buyers and sustains property values. Buildings with financial concerns, high condo fees, or upcoming special assessments can see values drop.
Applying This Formula to 901 - 10 Ave SW (MARK on 10th)
Let’s take a real-world example. Below are recent sales and active listings in MARK on 10th, a condo building in Calgary. The numbers tell a clear story about how value is determined:
Average Price Per Square Foot (1-bedroom units): $678
Average Price Per Unit Factor: $11,971
Recent 1-Bedroom Sale: $355,000 for 526 sq. ft. ($675 per sq. ft.)
Recent 2-Bedroom Sale: $475,000 for 785 sq. ft. ($605 per sq. ft.)
Using these averages, you can get a baseline for your own condo’s value before factoring in unique adjustments like renovations, view, parking, and the overall condition of your unit and building.
Why This Matters for You
If you’re thinking about selling (or just curious about your home’s worth), knowing how your condo is valued gives you a serious advantage. It allows you to:
✔ Price Strategically – Avoid pricing too high and sitting on the market or too low and leaving money on the table. ✔ Negotiate with Confidence – Understand what your unit is truly worth and justify your asking price. ✔ Plan for the Future – Whether you’re refinancing, investing, or selling, knowing your condo’s value helps you make informed decisions.
Get a Custom Calgary Condo Valuation Report – For Free
Your condo isn’t just a number on a spreadsheet—it’s unique. And while formulas and averages are a great starting point, getting an accurate valuation means factoring in the specifics of your unit and building.
I specialize in providing condo owners with detailed, data-driven valuation reports based on real market trends and current sales. If you want to know exactly what your condo is worth today (not just an estimate from a generic online tool), request your free custom condo report now.
📞 Call/Text: 403-831-0842 📧 Email: Jerry@JerryCharlton.com 🌐 Request your free report
Don’t leave money on the table, let’s find out what your place is really worth!
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