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http://www.edmontonjournal.com/H ... /1248520/story.html! q0 |" e: L# I- \/ c5 a" Y
) r7 ^& {) L3 `) M/ j' T) hEDMONTON — 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. Y5 |$ K# _# s+ J9 A9 a
) Z* Q8 X5 z! e4 N" I3 s9 r6 gEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.2 f: r# V/ M8 b& q
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- Total MLS sales plunged 40.9 per cent.* ?- P9 K: n; G5 A. ^
4 i# A9 R2 s; z) l- 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.
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- The average condo selling price dropped 7.5 per cent to $238,535.6 F' }+ d$ j2 E- B( ~* f
/ ?, b- d! J# u% j- @- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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) f8 c# N" ?/ I) p+ c( Z- b- For condos, only 189 sold in January compared to 363 a year ago., n' d' R k, T& H- X6 ~+ z
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.$ @4 \" c7 h! n+ R. I9 I8 c2 q+ r
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He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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: h8 x9 k3 Z8 zMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December./ I I5 U2 }9 c3 W
" q# g7 g8 d4 L1 B+ @# e9 |& o0 USales 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 $299,222.- i& J. u" B$ }4 }
* ]3 R) f& _1 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.”
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5 z3 h3 K+ m) ]) V$ z5 v+ s( f1 xHe 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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