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Last updated Apr 12 2006 12:28 PM MDT) q4 a E, c1 X4 o6 I( O" O" |6 F
CBC News
G, W9 G& ?2 I6 m1 ZThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. r, d( E( n1 _7 h9 D; p! D1 I: I
2 e h8 ]: w- U+ FThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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, t. h% G- j' u2 y0 j% jThe 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 $358,000 in Toronto.
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# @- N$ p' q' F% jVancouver is the still the hottest market at nearly $500,000 for a single-family home.
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Clark says there's one reason Calgary's market has shot up so quickly.
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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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"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./ X2 A+ B* l. O+ R. c: D* A
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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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