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Last updated Apr 12 2006 12:28 PM MDT
* f& ?2 ]; |) o* s# D) ?CBC News
& R4 u- G. u. K8 Q/ E6 A7 V+ o% uThe 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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' p/ a% d& p' w0 l! J5 ] U( e/ @The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before. g i% \ D2 B' P8 E5 e
$ M$ F8 x! v* ?6 `4 xThe 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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3 I5 [- H& ~- I( {' NVancouver is the still the hottest market at nearly $500,000 for a single-family home.
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/ O% ?2 p& `! Q l! G, H* o" nClark says there's one reason Calgary's market has shot up so quickly. : W) f* W' q9 l) ~$ U. A+ g
t, e9 `/ U8 f r0 H1 ^+ p) O"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."
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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.0 Z0 z: u, {5 O( f
" \4 {7 }" T5 ]* Z8 J) V2 lGeorgiana 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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