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Last updated Apr 12 2006 12:28 PM MDT
. o F ]* U" @+ H4 g" QCBC News ' v) S3 d4 k) J$ I; \
The cost of a single-family dwelling in Calgary has surpassed the average price of a similar home in Toronto by about $5,000. 6 s1 M/ H$ A6 J. J% D
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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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; p2 @- _% j) ^* {0 n: U! W5 X( fThe 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. . F/ }9 e, K& R/ A% W
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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+ n* X+ W5 k' o, MClark says there's one reason Calgary's market has shot up so quickly. % d4 m$ b/ h9 W- c
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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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; j3 q& G, Y+ y! G4 s! g"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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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.
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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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