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http://www.edmontonjournal.com/H ... /1248520/story.html, E2 o* J# k' N1 i5 g
2 D$ U; b! ~& R( KEDMONTON — 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./ r" V0 R7 U8 M; V
/ k0 |8 k' c* v' R; aEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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, v0 e- |8 v3 ]0 Y. ^+ e- Total MLS sales plunged 40.9 per cent.
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; E% I7 @" W n9 F* s6 J- Value of total sales for the month was $265 million — down 42.4 per cent.5 p1 O) N# N' r
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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0 V% H7 F) A1 N0 p D3 J! {- The average condo selling price dropped 7.5 per cent to $238,535.( F) s7 Q& u" {8 P
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.: I' \- g( v H
* C4 G# w5 i; w! f: j- For condos, only 189 sold in January compared to 363 a year ago.
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7 v2 n, R l% A! z7 p( ~For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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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.! x, C/ F# F: j' ~
( q& ]1 `. _0 @6 h/ _% IMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.
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( R. I6 m! X! R* 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.
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4 l. d9 `: N* V* \! P8 Q7 B, @“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.”* P1 ]0 ?) N6 u! k/ F; o
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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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