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Last updated Apr 12 2006 12:28 PM MDT) f' ]3 M$ l, e$ n) |) _
CBC News + M4 A1 Y `% @: w# r
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000.
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0 S0 C7 h h. LThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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! c! G5 b+ @4 {5 ]9 J+ pThe average price of a home in Toronto is still higher than Calgary but the cost of a single-family dwelling – the most sought-after type of property – is about $363,000 in Calgary compared to $358,000 in Toronto.
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* }' o) x5 ^7 vVancouver is the still the hottest market at nearly $500,000 for a single-family home.5 U; W8 Y" L! u
* h5 {" Y* F1 c6 u5 PClark says there's one reason Calgary's market has shot up so quickly. , |/ H! I. N% v& T/ B, Q3 F
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"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark.
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"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." f, y$ u9 t, _5 O: }
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Realtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.
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+ ~; n$ [7 ?4 o+ }- XGeorgiana Woods, who sells real estate in Toronto, believes that market will cool off while analysts in Calgary expect the city's unprecedented growth to continue. |
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