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http://www.edmontonjournal.com/H ... /1248520/story.html, C. K) G5 V: c! A& R, S8 Q
! h7 d+ b9 M8 b+ K3 |$ J4 i7 ?: YEDMONTON — 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.& P+ j; C% C/ m v2 p
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- Total MLS sales plunged 40.9 per cent.
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4 i; ]; ~5 g3 K6 ?# T$ G, t: y- Value of total sales for the month was $265 million — down 42.4 per cent.. V2 k1 D4 l3 c1 x3 L9 [! j
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- The single-family home average selling price fell 7.1 per cent to $352,689.% D- B+ i: a* k! k* o8 g
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- The average condo selling price dropped 7.5 per cent to $238,535.
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4 n2 n+ P+ _' ?- F- In the single-family market, there were 502 houses sold, down from 767 in January 2008., X9 p' c. |: y& K7 N: h" ^9 | y
9 A# k( J1 C' T" |4 ]- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious./ E6 A3 X! e2 a6 f9 x
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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.* s0 F; z3 l% w) T
4 v- g% y4 @' i% P- U" l: n! q& EMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.5 Z0 U ]3 D/ p
2 g4 U7 u9 N4 W# _4 s3 xSales 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.% B) x: m" N" Q( D
0 L5 E3 k& M) M+ z“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.”3 v' X6 L/ k0 A! z: W
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He 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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