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http://www.edmontonjournal.com/H ... /1248520/story.html
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. i0 S( E+ R- }) o5 lEDMONTON — Edmonton’s resale housing market sales kicked off the new year by stumbling out the gate — with residential MLS sales down 40.5 per cent compared to January 2008.; z6 ?& [4 x! k% b
1 s& l/ t% a% |# v+ R% DEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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( W/ s7 @1 f5 N1 G1 @+ ^4 }- Total MLS sales plunged 40.9 per cent.
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j" R/ M9 s' ~7 |' g, y- Value of total sales for the month was $265 million — down 42.4 per cent.
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/ L W) T) |2 M+ y! |- The single-family home average selling price fell 7.1 per cent to $352,689.4 T' e) R- y1 f' | Q
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- The average condo selling price dropped 7.5 per cent to $238,535.6 S$ a: D4 r' o5 ?7 z- _: v
1 I; n* x: e% D6 U# T, h- In the single-family market, there were 502 houses sold, down from 767 in January 2008.. h9 b. J) o7 a
3 }6 _" W* C1 O; O: V* m4 _5 u, s d' d- For condos, only 189 sold in January compared to 363 a year ago.
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: N! P9 a* h1 g3 NFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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% C3 Q! w; c. L# tHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.% d( E6 a$ W$ Q; S* ~+ [
8 {# N; U4 m' m" F7 C: K: `Sales prices were also up in all categories as compared to the previous month. The average price of a single-family home in January was $352,689 — up a quarter of a per cent compared to December. Condo prices nudged up 1.8 per cent to $238,535 and duplex/rowhouses rose 2.2 per cent to $299,222.: i) `4 b0 O( u
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”. G$ u5 `: D K( v! f6 _
. W N4 M) ^3 ?0 F0 }He pointed to interest rates which have fallen to their lowest in years, a large selection of homes and recently introduced federal tax credits for home renovation and a change in the amount of RRSP savings that can be applied to a first-home purchase — now $25,000 up from $20,000. |
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