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http://www.edmontonjournal.com/H ... /1248520/story.html
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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.& v; K0 i$ h2 B
% F7 Z9 k$ ?* a5 Z+ y. `/ ~Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.+ T: H" c0 C9 {3 r6 E! I! E P
: K1 E1 H+ O" e8 Y# G1 y7 a5 N& J4 F- Total MLS sales plunged 40.9 per cent." M! ~0 i8 ?! {$ b
% x: e& [3 L! X: n- Value of total sales for the month was $265 million — down 42.4 per cent.2 G+ O2 X9 w6 n! F$ ?
( }9 j2 S& @$ ?8 G( H4 G3 {- The single-family home average selling price fell 7.1 per cent to $352,689.
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" x. g2 \/ `% T; f- The average condo selling price dropped 7.5 per cent to $238,535.+ S7 _% E" }2 ?1 [: ~0 T
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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; F; H% ^3 x$ a6 L% j- For condos, only 189 sold in January compared to 363 a year ago.
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0 @3 b ?' I+ Z2 w$ ?6 @- @! W5 gFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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; q2 ?+ M: Q: G7 ZHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.+ G8 r* q! L# D/ \ @8 W, g- H. l
8 v4 F5 a. T2 D$ _3 L% `3 l4 f+ bMultiple 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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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.
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“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.”. j! a9 X% T8 D8 @) N; d
' o/ Y3 V: m {& l! g ZHe 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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