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Last updated Apr 12 2006 12:28 PM MDT
& o8 Z3 Y ]0 F/ ` x( vCBC News
; `! l! m+ ?3 Y, |. S0 nThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. " Y0 @; b" `( A+ c# e( J b
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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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+ J, _ E& I# G5 `! ^& F; HThe 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. / `+ F/ x& |7 l
* i. k/ ]. Z! g; \. w, ?1 jVancouver is the still the hottest market at nearly $500,000 for a single-family home.: P; n& ~; x( I. B" Q3 y$ k7 }( |
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Clark says there's one reason Calgary's market has shot up so quickly.
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' X1 t% |; c, b! t: u9 {"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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0 R' @1 |- s. ~$ I9 X& FRealtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.
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K$ h) v& T: y; l. xGeorgiana 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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