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Last updated Apr 12 2006 12:28 PM MDT
0 n5 w) f8 H' d3 y! fCBC News , o2 f! Q& A- K: {0 A
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000.
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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before./ y4 i, K2 p% x/ Z3 j
& x6 k7 t' s7 i$ E) e# `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.
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.9 j* {& _/ `# Q
0 C2 V! B" ?3 S+ UClark says there's one reason Calgary's market has shot up so quickly. 7 z. e$ Z. Y, I, d' ~* x' S1 f
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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. 2 \8 _' u+ O. a; R" {0 w9 R
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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." 8 [- o7 F% B( N- V o8 J! w8 D
! [ s3 ^, n* URealtors 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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