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http://www.edmontonjournal.com/H ... /1248520/story.html
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; w# p3 W8 g( J0 l7 n' fEDMONTON — 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.( B) V3 {7 [" @ |
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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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8 v) g, h: R: k) d: }' A* F- Total MLS sales plunged 40.9 per cent.) m% p2 I3 y4 A9 [, k2 @1 I' p. j) R
$ k/ [7 F, r9 t2 J: `- M+ I- Value of total sales for the month was $265 million — down 42.4 per cent.
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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% [+ D0 V/ _4 a- The average condo selling price dropped 7.5 per cent to $238,535.. g) L- V+ y9 _! X$ B
( ?* d2 v! R7 F5 h4 G" u- In the single-family market, there were 502 houses sold, down from 767 in January 2008.. j6 W3 V; c- `/ i' N$ J
3 x* m) C& f: o- For condos, only 189 sold in January compared to 363 a year ago.; K% Y8 Z$ w0 i+ I0 J; ]$ j
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.' r+ ?5 L, \% j0 x! C2 `7 j
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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.' h& ?. I3 x3 U% E* e1 v
1 Y' I# c; N; w2 \! l# wMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.( z% ]' f# v; _; N' l" ?+ G
6 \7 e* u: \6 w5 B: y$ aSales 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 $299,222.
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! p: e: }$ g M“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.”' e" m9 b/ H2 D* A5 E4 O
) [' A) ?3 W$ b Q+ d: E Y2 AHe 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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