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Last updated Apr 12 2006 12:28 PM MDT
1 g( }" W3 T# ?1 T( |- u1 t& xCBC News
, o% M0 p8 ?' z4 ?( JThe 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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+ S, |+ V- |' i2 A, D7 I9 v: F8 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. " O3 g Z) E( _. _+ v+ \5 T. m) }
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Vancouver is the still the hottest market at nearly $500,000 for a single-family home.
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' [9 @ T# e* yClark says there's one reason Calgary's market has shot up so quickly. ' I9 u) \ H. _4 ~/ X5 ]+ c
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"The numbers of our average sales prices are certainly indicative of the strength of the local economy and the Alberta area," says Clark. ) X$ ^ }6 I, K5 f
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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."
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Realtors in both Calgary and Toronto say they've seen inner city homes go for as much as $200,000 more than the asking price.
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2 S4 a' i t$ S4 G+ Y4 b% z3 v9 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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