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Last updated Apr 12 2006 12:28 PM MDT
6 Q% S( e4 _0 \; oCBC News
6 w8 V, q* w. J3 [3 T. gThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. " I! s& O/ ]/ \( T5 f7 B/ Y) Z* B
5 z+ M$ H+ N: G3 y, RThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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The 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. & i- g0 e: c, a
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Vancouver 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. $ ]) e& O) U3 l; r7 ?1 @* J
0 b3 E' V6 D. d. T0 w4 H5 F4 }"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. & S) r+ {) \( Z& p. \5 ?
1 F) N& @" G0 n0 G6 {( g' S"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.
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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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