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Last updated Apr 12 2006 12:28 PM MDT2 }( J: x$ n+ `+ K& A' G8 \& S: b
CBC News ; u; @. F: C: P2 k2 U: V1 @
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. ( R" O8 b$ d. b. @2 Q% n+ ^ W
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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. 6 G+ E4 d3 O* _
7 ?% `% ~+ |* I) r& w% S f( TVancouver is the still the hottest market at nearly $500,000 for a single-family home.
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; |4 _% s" O; O, m: UClark says there's one reason Calgary's market has shot up so quickly.
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! A ?0 e. Q3 u/ p3 }& D1 \! v3 h"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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" [' r: ?7 F9 b2 [( W9 G/ j0 @"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." + \0 h- n# j: D% }& d
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Realtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.$ u2 t# _/ w0 V1 n3 H" h" j
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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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