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http://www.edmontonjournal.com/H ... /1248520/story.html6 q" l7 Q% Z* C' A" p
# e. s; | M0 o7 l5 N+ aEDMONTON — 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.. _: K) V4 X. N9 W
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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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" b& [1 ^6 a# Q* W: F- Total MLS sales plunged 40.9 per cent.* B+ b# k5 ]# N* o2 X; L
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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- The single-family home average selling price fell 7.1 per cent to $352,689.+ `7 E* a" K+ m; }* M5 R
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- The average condo selling price dropped 7.5 per cent to $238,535./ J) ~! M" G. B) j
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.! X- `% O% C: U9 [% J0 \2 U/ _
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- For condos, only 189 sold in January compared to 363 a year ago.0 t: h, M9 r) k
1 {( q& ^) z" j/ z1 V: fFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics." J1 o( E/ p/ f1 _; b- _
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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.: I9 C3 t; D" X m0 Z( l* | r
1 _% o3 p; Y$ X9 i' KSales 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 $299,222.1 b: X4 n- Z, s- ^
; ~! K4 _7 t: R6 Z% s4 s5 y! i“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”
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) z# a! i6 G9 g$ ?& 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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