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Last updated Apr 12 2006 12:28 PM MDT
/ b: \4 ~1 e* W, A4 H) nCBC News
9 b% T0 W$ p; F* f0 n6 g1 w uThe 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, a' f! ]6 R( N5 oThe 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 $358,000 in Toronto.
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+ ?1 v3 `8 t. F0 m8 G/ a$ OVancouver is the still the hottest market at nearly $500,000 for a single-family home.. F" A, s4 g9 h1 c2 z
; H$ @/ g$ w8 F. N6 |( \Clark says there's one reason Calgary's market has shot up so quickly.
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/ x/ y, {, i( d6 @: k X"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." " ~2 A3 s( |! O8 `
" |. [& M" Z5 E9 y! jRealtors 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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- o* v" V; L- x. n. I/ L+ o1 yGeorgiana 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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