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Last updated Apr 12 2006 12:28 PM MDT, z, J) U4 s. R, M+ }1 Q
CBC News
2 g# _7 E1 V% d# f! iThe 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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! D( }- @1 b: H7 o6 b& GThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before." D6 ~" X u T& ^8 w& h# k [
: x: T6 F/ x# t4 tThe 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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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.4 f- b; Z! J9 z8 C* f
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Clark says there's one reason Calgary's market has shot up so quickly. 7 m3 \/ T) p- Z3 s3 r# H
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"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. 1 G2 `! W. K( `; a# Z" c
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"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that."
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$ d+ A5 j! \# a8 bRealtors 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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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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