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Last updated Apr 12 2006 12:28 PM MDT
L. d3 D# _- v! F" r ?0 g5 c3 xCBC News " i. |8 Y6 g+ T% _" Z3 Y% {, s
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000.
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. t& q1 v+ K' ~* {0 @The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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+ W( Q$ `8 v, ~3 K8 U0 ~9 yThe 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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+ u0 [+ g& u0 \0 R9 ~Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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. Y: ]. f# ?* F9 b* ] iClark says there's one reason Calgary's market has shot up so quickly. 1 p. s; D) h- J5 P" [
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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 $200,000 more than the asking price.7 M5 p, v1 J+ T/ D# j5 N8 c
6 _$ e3 h9 v7 q! ^6 YGeorgiana 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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