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http://www.edmontonjournal.com/H ... /1248520/story.html+ t0 |6 J1 `4 v% f% @# n& B0 W! i
, C+ B2 n: E- C$ B* M+ MEDMONTON — 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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, |# v& O7 q3 @, D2 J* B2 O% Q0 DEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.% g+ N& u. J( i. A
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- Total MLS sales plunged 40.9 per cent.
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. H0 F' H! p" O- Value of total sales for the month was $265 million — down 42.4 per cent.7 d( ]6 l! E! P% ]7 r# O( g5 M- e
* ^2 K& y3 W8 F3 e1 @. O- The single-family home average selling price fell 7.1 per cent to $352,689.' S, H$ Z) X) @3 Z; y
6 o. r D# ?2 ~) U- The average condo selling price dropped 7.5 per cent to $238,535.$ w3 n+ N8 h+ g) M y
; M5 P8 z) j! l4 \- 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.
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2 m' o% m; [/ x( m5 N- O# ]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.
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U1 K4 d( d% cMultiple 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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$ }0 Y( S: b, ?' GSales 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 $299,222.
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+ ?; R7 P2 e [+ w" J& f( N“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”7 R& T. X' n: f" N
" B$ _: [# e" n' Z! {* OHe 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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