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http://www.edmontonjournal.com/H ... /1248520/story.html
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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.
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.' t" T- X3 x$ O, l0 h$ t% @
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- Total MLS sales plunged 40.9 per cent.
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- 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 $352,689.8 V; b9 c- s2 U, o4 H$ k: T
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- The average condo selling price dropped 7.5 per cent to $238,535.9 |9 o, Q/ J! n) ~9 A6 l& R
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.( v/ R/ R3 e0 ^; y& F9 @
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- For condos, only 189 sold in January compared to 363 a year ago.3 `0 y! i, ~( {
" W) y: W9 R* U E( _: tFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.5 Y; p% `1 I% U; ~5 Z" g
3 ]7 r3 U: s% X1 T" m7 eHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.; u4 P. z0 ]- b# g; p4 s1 S
: A) ~1 z: t( i+ L6 dMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.& G' R+ `- Q9 y( `
% e9 q2 ]6 m; t m2 I" RSales 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 $299,222.+ F7 @2 J% U. Y! {' Q3 s
1 b ^" A5 I& k1 ^/ u“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”8 d$ {% \& y3 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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