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Last updated Apr 12 2006 12:28 PM MDT
9 a! ~9 a+ t) ?3 Y% ^7 C8 zCBC News
. G1 m* b9 M& u5 T; oThe cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. 5 v: I" Q5 h9 A* z
} v0 J/ d | p6 H& c2 CThe president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before.1 f$ T+ @! u7 ~! W1 l' w7 `3 W
& K3 P/ c/ B( X; n6 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 $358,000 in Toronto. * x; H$ X# }) E/ B5 z& Y8 Z
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.! ?8 ?( i/ Y; o
N& Y- ?2 f- h* T% lClark says there's one reason Calgary's market has shot up so quickly. 0 V: f/ t- W, O; o
9 K2 N9 _' {+ E+ o! ]! W& c% u5 O"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. 5 ?1 z% Y0 ~" w7 [( F( }
3 D* N# L% G$ r$ M" d4 j"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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8 i& z2 X8 q+ i% `' VRealtors 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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# W# k H% n9 q1 N" h" E bGeorgiana 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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