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Last updated Apr 12 2006 12:28 PM MDT
7 w" z6 J4 _ Y: q( H7 u tCBC News 5 Y+ ? B* g* a9 p+ q
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. ! H! e8 G y% @' n# b
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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.9 G2 u* v* V8 f2 q
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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 $358,000 in Toronto. P$ M: M, A4 \2 m
* E! p" r( c* F1 V( U2 o& qVancouver is the still the hottest market at nearly $500,000 for a single-family home.
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" e5 j( V( g" {' e7 F- Y7 Q/ i1 oClark says there's one reason Calgary's market has shot up so quickly. + [6 j! K C+ n+ Z
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"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark.
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$ B: U2 Q2 t1 B+ O+ K- m& U"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that."
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. Y ?) v/ f% t, XRealtors 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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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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