Property values rose in Revelstoke last year. (Marissa Tiel/ Revelstoke Review)

Five most expensive residential properties in Revelstoke

BC Assessment report released today shows residential property value up in Revelstoke

  • Jan. 2, 2018 12:00 a.m.

Nine Revelstoke properties have broken into the top 100 of the highest valued residential properties in the Kootenay-Columbia region.

BC Assessment released its new valuations for properties all over the province today.

“The majority of residential home owners within the region can expect an increase compared to last year’s assessment,” said deputy assessor Ramaish Shah. “Some markets have advanced more than others. Revelstoke, for instance, has seen strong demand for housing over the past year. Some areas have seen a decrease in demand as well, and this is reflected in the current assessed values.”

RELATED: Revelstoke home values on the rise

In the Kootenay-Columbia region, which covers from Fernie to Grand Forks and from Revelstoke to Cranbrook, the total assessments increased to $40.87 billion from $38.6 billion last year.

In Revelstoke, single-family residential properties rose in value on average from $360,000 in the 2017 valuation (completed in 2016) to $436,000 in the 2018 valuation (completed in 2017).

Here’s a list of the six most expensive homes in Revelstoke:

1. With a valuation of $2.589 million, this seven-bedroom, eight-bathroom home on the side of Mount Mackenzie near the Revelstoke Mountain Resort, increased in value by more than $500,000.

2. This home, located in South Revelstoke, rose in value $357,000 compared to its previous valuation and is now estimated to be worth $2.582 million.

3. Sitting on the side of Mount Mackenzie, this six-bedroom, seven-bathroom home rose in value $472,000 from its last valuation. The home is now worth $2.213 million.

4. This home, built in 2011, was sold in October 2016 for $1.25 million. The last valuation had the property worth $623,000. This year, it’s coming in at $2,069,000.

5. Built in 2008, this home is also near the ski hill, with four of the most expensive five Revelstoke homes located on this street. This five-bed, four-bath home comes with a valuation of $2.032 million, an $451,000 increase from last year.

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