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Last updated Apr 12 2006 12:28 PM MDT
5 s0 d, f! _6 m! q) t" V' zCBC News
" X g0 J [4 N$ R v2 aThe 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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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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; ` E1 p8 T; c5 ?" {( g- BThe 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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5 b8 L2 s* ?; L! B( ?Vancouver is the still the hottest market at nearly $500,000 for a single-family home.6 ~) Z9 P6 T# a% z' @
6 m. _' B- H, e L: ]Clark says there's one reason Calgary's market has shot up so quickly.
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8 Z/ K* |( I; S) ~$ @$ s"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. g! c+ b7 F: z5 T" K$ W( a5 f% }' I
) s% k+ t/ O9 o. I8 o: o. o! X"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." 6 r& q% e, Y4 X: |
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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.8 I* [6 K! }8 D- y0 ]
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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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