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Last updated Apr 12 2006 12:28 PM MDT' F; y2 H& }2 [) @6 C, v |
CBC News
; s) e# t$ Q! d$ l5 g1 EThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. , e4 u; g0 K, R7 H- g7 a% \! ~0 [
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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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0 T3 p. R# j$ V1 SThe 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. & M3 e0 C' r- d
# M8 ~8 W* ^0 d% {( LVancouver is the still the hottest market at nearly $500,000 for a single-family home.4 ?9 x& F( b7 {1 \& f2 s
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Clark says there's one reason Calgary's market has shot up so quickly.
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+ |7 f/ f3 U. R6 t. P$ G0 a% Q, b"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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4 W7 i7 {* w+ p/ O3 f5 F# f"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that."
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9 ?& I2 v6 k7 F# U3 ^7 Y( ]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./ D% [0 I: c* {, x+ J0 x% ?
h5 O J8 s% D. \, p, Z( c9 {7 }3 wGeorgiana 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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