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Last updated Apr 12 2006 12:28 PM MDT
' ?/ a4 v4 S# [2 {* rCBC News
' |1 h, M1 x' [6 ]# qThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. 9 ^6 ?8 m( l7 X2 E( k" I! e, @
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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 $500,000 for a single-family home.
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: n# F1 _; f7 P9 H0 ^: V$ OClark says there's one reason Calgary's market has shot up so quickly. # ]* f* V, h* w# w) \; f1 g
/ e4 h2 n" J: C( k+ v) w"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." 9 d! J z/ X6 v3 Z# ^, z1 v
$ G! K& I) F( L0 M: N' l0 ORealtors 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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1 p5 U: @& T, ?/ Z0 [0 M/ fGeorgiana 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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