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Last updated Apr 12 2006 12:28 PM MDT
3 a. W z: A) k& x6 V- gCBC News
% M* ]+ O$ ~* o6 ]4 w; nThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. " |6 \, o1 J( d
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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. , m2 ^/ Y0 l0 ?! o7 E, {
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home./ v+ c( n4 _2 x( G9 O, L
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Clark says there's one reason Calgary's market has shot up so quickly. : T6 n' ]4 i& q5 ^
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"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. & S/ e# }* E) ?" n* ]0 E$ x
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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." . _9 W9 H0 }. O0 j
( L6 `4 a5 ?" C& eRealtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.8 U2 L- W" o) k$ U! T, F
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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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