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Last updated Apr 12 2006 12:28 PM MDT
# t3 g" j, f$ L2 R/ K9 _# i& S, cCBC News 0 Q! t! i. ^5 z- G& _
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. 2 a5 V; c) f/ @, o* Z
2 V' s! Y; N- f4 CThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.5 e+ W, p, e3 S, ~0 z' i
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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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7 A7 c) E& i; N2 [2 bVancouver is the still the hottest market at nearly $500,000 for a single-family home.$ b3 }2 R! M$ Y5 }$ h% z
" t M. L- z( ]6 ~Clark says there's one reason Calgary's market has shot up so quickly.
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$ O; I" o& Z3 P& K# ?; s"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. ) J; N+ u k' K# ] S2 a
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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." 5 E# Z2 d1 ?& x# u# m ^
# R( \: j0 _+ E4 Q% ^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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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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