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http://www.edmontonjournal.com/H ... /1248520/story.html8 S+ s, R$ @+ C% [, {3 W
) T3 l2 K* g/ l' @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.
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- Total MLS sales plunged 40.9 per cent.4 U' X2 w: g; p: a0 X
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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6 x V# e! z. W, Q; }. Q; G- The single-family home average selling price fell 7.1 per cent to $352,689.- M8 E( n: x6 n, j! z/ M- ^9 O, j. h2 ]
1 j1 U/ y) N! D, X- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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2 W' W4 o% B' i) o% I5 G% J- For condos, only 189 sold in January compared to 363 a year ago.
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$ o' U1 O" q( H o/ ~, t1 Z5 j) y* Q* WFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.# W, i+ L9 T6 U% o" N/ ? y
]7 U5 I+ y# N% m) qHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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" ~0 G: V' O8 }; u: oMultiple 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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$ T" \ o, I0 `, c' r F- c2 \" |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 $299,222.7 ~/ o( b9 G/ V1 j/ B
. e4 f0 f3 f8 N6 s3 t% ~“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.”( U- O8 i# Y3 X" t
9 ~9 z: t+ _3 gHe 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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