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Last updated Apr 12 2006 12:28 PM MDT' {; t- F4 B8 N z: `" Q
CBC News 2 r3 a _6 E. P
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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/ n& m5 u% w' N; BThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.7 k) t1 ?2 L. [+ M; }3 w
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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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a3 j, Z; J1 V0 g, I* C' fVancouver is the still the hottest market at nearly $500,000 for a single-family home.. p* w3 p0 u7 F
) F0 \- Z: t) ^2 |# cClark says there's one reason Calgary's market has shot up so quickly. 1 Z) S# a. K2 o
- w+ C* X. `/ L0 e! g"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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"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." ; G9 o; B2 n' z* u5 W2 a9 U
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Realtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.
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; e! W! f$ p" E1 y2 g B/ S0 ZGeorgiana 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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