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Last updated Apr 12 2006 12:28 PM MDT
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2 f4 P9 J2 v Y8 {/ ]7 yThe 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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( R# m: P8 J" F; F o, T8 b( W- XThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.# q! i; k W+ i" A
0 V" y; M/ ]( l; P& Z/ n: MThe 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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Vancouver is the still the hottest market at nearly $500,000 for a single-family home. `' w1 P0 r9 t# \5 ?
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Clark says there's one reason Calgary's market has shot up so quickly. 3 d$ L; L Q% l" |+ { r6 O3 H
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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. 6 J' R9 }5 [# h
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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." 6 z* ]' E5 \4 `0 f
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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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