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Last updated Apr 12 2006 12:28 PM MDT: s- e5 `% h+ U8 n) H8 R, e% V# H
CBC News & o! C" ^! V! \% g" h$ E
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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* ]/ {1 s. w6 o9 h1 t9 VThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.- {" z3 \% x6 f
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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 $358,000 in Toronto. , D R2 {7 j! X, _/ B
. s7 N+ Y2 i$ C$ O! @+ YVancouver is the still the hottest market at nearly $500,000 for a single-family home.
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m5 i! I" ]7 S+ r FClark says there's one reason Calgary's market has shot up so quickly.
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4 I7 `. q* ?- b% u"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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/ E: g. q& [! D"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." # o! Q/ a5 Z2 I
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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./ m; c/ J& f" H0 z. R9 ]
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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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