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http://www.edmontonjournal.com/H ... /1248520/story.html7 E5 Y% e9 N6 t+ v
J8 g) f- a6 t6 b4 rEDMONTON — 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 2008.4 ^$ A: B8 _7 k h
o4 c0 b) ?# a$ d$ lEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.9 e/ P2 l* J* d, D/ ~4 Z5 |0 g
& d; N9 L9 ?7 D2 y& _! R$ ^2 g7 ^% ]! m) u- Total MLS sales plunged 40.9 per cent.
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3 S' t8 v' c3 _- Value of total sales for the month was $265 million — down 42.4 per cent./ H8 k4 V; v4 L- W) h
9 r( R' g* k# |9 n& p, u2 |- The single-family home average selling price fell 7.1 per cent to $352,689.
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- The average condo selling price dropped 7.5 per cent to $238,535.+ w9 k9 T+ X2 ]% L2 O: A* d1 N1 I
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.
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$ L$ g' B1 n; q9 @5 a% M4 tFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.; t1 G( M# T4 Y9 e R* H
7 z: r7 b7 x9 B) u' n0 cHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.) q" E9 Y4 @5 j& U2 B' M- T5 z
: {5 K( u. K3 T: GMultiple 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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# b7 T$ E- W4 m5 d3 y1 ?5 ySales 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 $299,222.
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8 b! N7 X/ T9 x“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”$ _ B! }6 f. w6 g! n
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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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