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Last updated Apr 12 2006 12:28 PM MDT& D- ?% X2 _* a* Y& j4 ?& S( Q
CBC News , T/ e( X' k( `- E# ]
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.
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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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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.6 q, @8 U8 P# l \% U; ?# f& L
, ^, t' Z ]. o; v0 E% U( bClark says there's one reason Calgary's market has shot up so quickly. 7 O3 ?& V. s- c3 g0 N- c8 X- J
" H( G1 W/ S6 s& K& R5 c9 K"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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1 |" z7 e |' K% `; Y"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." ' b y( _* t7 O! G+ `
/ f f. L* T7 r# ~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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