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http://www.edmontonjournal.com/H ... /1248520/story.html7 j# s2 H$ I6 p. }. V: f: c. t
0 b# F( G! O- O: `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. w, |- Y7 H- [4 m5 C
! V6 o! ^0 V7 A, GEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent.
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7 P, q% L/ Q2 L1 ~5 [5 ]- Value of total sales for the month was $265 million — down 42.4 per cent.* c+ S5 W+ \" v
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- The single-family home average selling price fell 7.1 per cent to $352,689.8 y: l! y. b) |) C% d* c, x+ v
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- The average condo selling price dropped 7.5 per cent to $238,535.
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1 M" z' C! g& G# t. ~1 c- In the single-family market, there were 502 houses sold, down from 767 in January 2008.! ]4 E! _! V$ t0 i5 v
+ v3 `" q1 s' T! {: H5 I- 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.6 O @9 n- G+ k4 q
! `# M1 Z2 @ C% j7 T4 jHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.* `3 @) ?6 u v+ p
9 c$ j8 U! S3 E# j/ z& H! w% KMultiple 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 $299,222.; {$ M# Y, \. S8 J
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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.”
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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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