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Last updated Apr 12 2006 12:28 PM MDT
" j) u% X9 O0 X* Q7 \3 \# H" n# ]' ?CBC News 0 n x5 W r+ P) E& h: a
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000.
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* z$ y1 d; h% X7 H: u# |2 k. eThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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) Y' t/ z3 q1 `8 hThe 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. " `% x8 P1 [% B" h2 h1 F9 M
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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* V; U- f$ R$ `9 U# S# cClark says there's one reason Calgary's market has shot up so quickly. ) d, B0 D5 S5 p0 K7 j. c& a
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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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: b1 A* {) `5 @ W- p7 C"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." 2 w' h' v% ~; F: W8 _8 Y4 n" |
- g% Y: d: L1 P) HRealtors 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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, s9 k: t( ?1 I/ @' oGeorgiana 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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