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http://www.edmontonjournal.com/H ... /1248520/story.html$ n5 F+ L' k* F* \. T
8 i2 d, \7 E/ Y: [+ P4 |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.+ H. N( L9 R' s7 s
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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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- J9 i' [) K# F+ ^: g2 E- Total MLS sales plunged 40.9 per cent.: n8 x" ^4 x9 C/ j" a
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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9 D4 s# }1 j' M0 L/ Q- The single-family home average selling price fell 7.1 per cent to $352,689.' z1 L) l2 L' I' u
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- The average condo selling price dropped 7.5 per cent to $238,535.6 B: ]% o8 U5 a0 e" c
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.3 P3 Y" F/ E9 l. X7 o% K
8 x' d+ |/ s5 X- For condos, only 189 sold in January compared to 363 a year ago.: _2 m/ C6 l: |: B$ S
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.9 T. \2 T( b' [5 g) u( K. A4 U# d
% Y) q: s) }+ xHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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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.; H9 Q0 G4 d7 ]8 G
" {* q# J% Q3 D+ ?) \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 $299,222.1 G0 d2 k3 u5 S
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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.”7 F! I, X( c5 T! w- n0 U
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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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