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Last updated Apr 12 2006 12:28 PM MDT8 a* X4 p6 l i; [6 f @: Z& T
CBC News 4 b2 x j" K- y) w: _
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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The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.
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2 Z' L/ E9 U+ u) lThe 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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Clark says there's one reason Calgary's market has shot up so quickly. $ N: e6 n* E+ V9 B# k2 W6 j1 ^
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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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"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that." & \1 h9 e/ ?$ a G+ ~7 L5 l9 D! R
! h0 m% T3 Q. |+ Y7 L" a6 gRealtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.+ U1 C; }8 k# ~- W2 v/ F1 C
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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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