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Last updated Apr 12 2006 12:28 PM MDT8 Y6 S1 e: t2 T
CBC News
, P& ^2 c, q0 |5 [The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. + I6 j- z) B2 ]- g6 r$ X
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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.: c5 r: P l% d- A
& `7 r& D6 Q& g* W f/ _: kThe 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 z; I# {/ X2 Q, ]( P2 C
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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Clark says there's one reason Calgary's market has shot up so quickly. 9 l* v8 C; l" \/ U. d+ N( g
( x1 i- ?( Z( B6 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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2 Q* v' a5 H8 a2 d, n"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." ; b8 w1 D5 a1 I
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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." G4 @( H3 Y: A4 m
% g- t7 X% M/ Q. _2 {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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