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Last updated Apr 12 2006 12:28 PM MDT# O0 C# d6 ]. P6 \6 @' C
CBC News % |% D/ |( m: p( K- p5 F! ^% n4 ^; }
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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" V; d+ x" M3 SThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.. Y. U1 C* m+ y) w9 d7 r
5 y/ V6 \/ j" s; V0 u' Q8 ZThe 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 $358,000 in Toronto.
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1 V, A$ a$ u2 K2 h5 JVancouver is the still the hottest market at nearly $500,000 for a single-family home." N4 r- L# c& L( }
3 z7 Y: o: s$ a3 O+ BClark says there's one reason Calgary's market has shot up so quickly.
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- _8 P9 D- T# d J- C2 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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"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 $200,000 more than the asking price.
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0 d" @8 X2 p& O2 m. x$ zGeorgiana 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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