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Last updated Apr 12 2006 12:28 PM MDT7 Y4 O+ U) G" r" U5 U
CBC News 3 S2 E/ a }6 v
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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& d/ K3 A ]7 l( @% X; M' d; R1 wThe 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. . f4 Y' S1 F* ~; L' j @. A
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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' G: [- }) K" N+ \5 @Clark says there's one reason Calgary's market has shot up so quickly. . U5 v* f1 k/ ` O5 [
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"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark.
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& e7 E! c4 H- G6 E"The market place remains to be a strong market place and economy remains strong so the numbers are reflective of that."
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$ M0 Y. q0 C- y2 L# J7 Y; a9 a2 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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