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Last updated Apr 12 2006 12:28 PM MDT
6 e; j! i' _% NCBC News
& \# t7 V+ j9 _9 pThe 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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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.( W, o- N5 R. j: b8 [ l
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The 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 $358,000 in Toronto. 9 a, T$ Y# q7 G+ Q
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.: i- ?, p# z" |' b" o* Z1 L0 R
3 E6 t2 a/ L/ D- t, CClark says there's one reason Calgary's market has shot up so quickly. 2 y% S3 Z, r% i, ^3 i% V$ |/ A
, P! W, G9 F4 G) U- s$ ^' r) M+ V, L"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. 1 I6 ]1 T- \! k3 W
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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." , P+ z7 b3 C- W/ s0 X; S
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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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Georgiana 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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