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Last updated Apr 12 2006 12:28 PM MDT/ c* `' f, v4 k5 M
CBC News 4 ~9 O7 D/ S6 @" l" m
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000.
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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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4 [2 M# c: y' S$ n/ p( S; V, UThe 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. 3 c1 `/ w! \! a- @8 S+ ^
j( O) T2 V4 s) w. q# ?Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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% p" F+ d6 h! L; t) eClark says there's one reason Calgary's market has shot up so quickly. t7 |5 a( F5 _2 `4 @; [1 d
, |9 L3 w( M2 S$ ^- j5 C"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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" n3 v9 O/ x& c* N& j"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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* _# e6 T. E n7 sRealtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.; a3 H) l9 ^; v& f
^+ ]1 \5 U4 n' K. b4 n0 nGeorgiana 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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