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http://www.edmontonjournal.com/H ... /1248520/story.html4 o+ q& B- P k, n$ a
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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.3 X7 y& a! s! n) A, @! V
8 M2 H, {6 H5 ?! p- R: @( P- Total MLS sales plunged 40.9 per cent.: T: k6 g" \9 S. V/ C, L: W4 y
5 J3 Q6 N" E, S5 _( ?- Value of total sales for the month was $265 million — down 42.4 per cent.4 _4 y- X/ ^) o" ?$ S9 Q+ ?. B
/ k$ H( ?7 Y, f' L6 w- The single-family home average selling price fell 7.1 per cent to $352,689.1 p- X0 X0 n \1 \/ q. c
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- The average condo selling price dropped 7.5 per cent to $238,535.$ _) @; o; F4 C& m) T$ T) x. x! i
- f8 G/ I% P- D9 l% Z/ {- 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.8 Y4 c: C- n/ b5 N% c! `
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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.1 L' V K: l- N7 k5 W; C1 Y0 \9 w
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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December." I% A* R% R' m4 {) X9 i
/ y1 ?7 r+ W+ q2 K% }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.”) a, Y. ~7 f4 ?5 E F
: g- v3 ?6 G4 Q# W- h0 DHe 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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