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http://www.edmontonjournal.com/H ... /1248520/story.html1 [% u4 i4 E' c5 k
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EDMONTON — 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.
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.5 W1 Y6 f$ a3 T) E5 r( k8 l' L6 @
* O- f: N& V. r$ ~6 ~- Total MLS sales plunged 40.9 per cent.1 [, C, {% ?% \& h# d) u; G
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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8 G. Y& \2 {) j/ }( Q m- The single-family home average selling price fell 7.1 per cent to $352,689.0 J/ i' g" c8 S K8 i- |5 W
) e9 {$ c$ Z4 A" n1 U# @9 k- The average condo selling price dropped 7.5 per cent to $238,535.* v: R/ T2 W1 Z/ G! }, f7 d
; m0 S& U) `1 \# e* o" W- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.' q/ J, T0 p o: @8 C' I p7 A8 d6 f' U
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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Z, t0 r9 _, u! {$ y6 S' mHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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: s% i% B% a2 Y, o; N! S" uMultiple 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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) d7 U( Y c# `/ m: S, vSales 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 }3 X; S4 H8 ~/ a% N! n
/ ^4 F' J! \0 m% @' K“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.”, @! e a2 T, [+ m5 a& t* W
0 ~# d) l: @: ]" K! ]+ A1 sHe 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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