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http://www.edmontonjournal.com/H ... /1248520/story.html* X0 B! ]9 M1 t( a& U" ]. U8 x; W
! c0 C% e4 Y6 H8 i2 r; c% ^" lEDMONTON — 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.- d4 n4 W5 I! t7 `
3 P9 M, @) p# |Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday." d0 _0 Q6 X3 `' P) _
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- Total MLS sales plunged 40.9 per cent.( Z, {; u9 w% k9 Y9 `
* L9 T5 W i' l1 {) G5 L- Value of total sales for the month was $265 million — down 42.4 per cent.4 V5 E4 {. o3 z9 V( A* f
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- The single-family home average selling price fell 7.1 per cent to $352,689.' g# m7 g1 j/ v, b
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- The average condo selling price dropped 7.5 per cent to $238,535.* {* g( O7 W8 l. H( x
7 i3 ^( m% T7 u: o) E- M" m% X- In the single-family market, there were 502 houses sold, down from 767 in January 2008.& |+ ^3 Y% g; x
# \* c& o9 N9 @& D$ e- For condos, only 189 sold in January compared to 363 a year ago.( P! u2 S6 _2 v- F# w8 T+ y
7 W3 \, y% f- q; T, d6 x, ~7 bFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.4 k6 L* w0 t3 L7 C. _; z
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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.
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8 {& W3 K! F) a; i8 wMultiple 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.
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4 d! ^! e) d6 K4 K. s% K( P! d“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.”; Y8 n3 t# ]7 C6 g% J6 T
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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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