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Last updated Apr 12 2006 12:28 PM MDT
1 M: l' B+ q* ?' h' wCBC News & K( n6 w) K- h1 B6 ~
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. , s* r. l8 T; u
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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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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 $358,000 in Toronto. . o7 Y) B. I2 ?$ S- S
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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' I/ F$ V- N d) i5 n s/ l jClark says there's one reason Calgary's market has shot up so quickly. # ~ r( z; @- _3 P# v
' S* S! I* U' e! O4 H, S' D"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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0 K; Z, z2 }" ?( U2 ~2 p$ o"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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3 m$ c9 V, _3 B# z2 oRealtors 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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- Z. a' S8 y; EGeorgiana 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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