Neighborhood Appreciation

Is your house appreciating in value? What causes a house to appreciate in value? These are important questions to ask whether you’re home seller or buyer.


If the house itself is not what is causing home prices to rise what is?

To summarize shortly, a house does not necessarily appreciate in value, as the finishings will wear out, the foundation will crack and the once reliable building systems will break down.

The land that your house sits on is the largest driver in home appreciation, as well as your neighborhood in general. Over time your neighborhoods location will become more central as the city of Edmonton grows. When the rest of the area develops and redevelops the quality of amenities offered may increase. With the increase in amenities, whether that’s better shopping, closer to work, public transportation access or something entirely different, people will begin to value home ownership in that neighborhood higher than they would’ve in the past.

An example of the increase in land appreciation would be Glenora& Westmount. As 124th street was redeveloped and more shopping + restaurants were added to the area people wanted the opportunity to live closer to this new, more exciting, neighborhood. As a result, Westmount &Glenora have each appreciated in value at an annual rate well above inflation.

How can I know for certain what my neighborhoods appreciation has been?

With that being said it is hard to tell if an area has been growing in value over time without any hard data. A neighborhoods improved quality and increase in amenities may not result in faster house appreciation.

The only way to know for certain what your neighborhoods appreciation has been recently being to review the past few years sales data. Sales comparables will show over time if there has been a spike in sale prices for homes in the past in your neighborhood – it may even show you that your neighborhood is currently experiencing a surge in sales prices. If you want to work through your neighborhoods comparable sales data request our data and get in touch with us. We’re happy to work with anyone looking to gain more information about their house.

Comparable sales data in your neighborhood will help you make a decision of whether or not to sell or buy a house without the influence of a real estate agent hoping to get your business. Just simply take the data and review your neighborhoods appreciation. If you have more questions or want more information, just contact us! We also have current listing data as well as sales data from several years in the past, all accessible to realtors through MLS! Request a consultation below and get the highest level of advice for free from one of Comparable House Sales dedicated real estate agents – without the hassle or commitment of a realtor relationship.