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Last updated Apr 12 2006 12:28 PM MDT5 Q: W- b+ v2 B1 b) }
CBC News , ? p7 `6 P v; y
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. % ]; q2 x0 |9 R- M; L. Z- n$ K
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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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) v7 H4 k9 A* ~$ z7 l5 VThe 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 $358,000 in Toronto. 4 k0 a" f$ k- F) D$ M! T
1 x6 {/ j$ S0 @" n( i0 ]Vancouver is the still the hottest market at nearly $500,000 for a single-family home.8 m! B( V# r L$ a" _7 |
6 i; U4 C7 w, z( @Clark says there's one reason Calgary's market has shot up so quickly.
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2 `8 @- d+ s5 D6 N6 M"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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, y9 [( o5 o' `5 m7 z9 a, N0 D, F"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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9 A+ _( `( y( `: g jRealtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.3 q2 R" `, ~2 n8 o3 ~# \/ k5 i+ A
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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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