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http://www.edmontonjournal.com/H ... /1248520/story.html
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" Z/ `6 z+ c) ]' o, I# z1 u) pEDMONTON — 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.. F/ k9 Q5 n" H: F$ r
! m7 p- e2 _) o; F6 sEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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* W4 v) ^6 {- ^- Total MLS sales plunged 40.9 per cent.
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( D3 D$ Q* R1 a) A2 z `- Value of total sales for the month was $265 million — down 42.4 per cent.
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- The single-family home average selling price fell 7.1 per cent to $352,689.+ E, k0 z+ N) A9 v2 ^
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- The average condo selling price dropped 7.5 per cent to $238,535.
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) y$ e- q/ G' q% s0 D B- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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& Y; f, @1 Q2 R: m x- For condos, only 189 sold in January compared to 363 a year ago.; N# t' w! O2 o; F0 Y/ Y
2 w% T7 D( `: F* R7 w7 E8 oFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.. U) J9 M( Z! Z+ g9 h3 E
) t8 o4 x6 i% l$ F. e2 _1 [8 CHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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( f+ ] S1 m+ }9 v% bMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.) T9 s0 H" g% C6 o5 a" O! F$ q
5 u& p9 ~1 s& R! m8 KSales 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 $299,222.1 F3 u ~4 C9 g! t% X
0 j* G O: A1 W# c7 m“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.”! x7 E+ L' h* h! ~7 `! F. I/ h* A( F
# Z e% B4 H! W; {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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