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http://www.edmontonjournal.com/H ... /1248520/story.html3 H; x1 R& ]% O/ v
9 \6 @4 Z# [) u: ]* `2 _* ]& ^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.# v) m$ |. C( Q
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- Total MLS sales plunged 40.9 per cent.+ d; z1 w3 n6 x5 A9 F# R# h. j
) P/ m8 H% |, r0 z4 D& ~8 w) z- Value of total sales for the month was $265 million — down 42.4 per cent.4 g/ N; @1 Q+ A) F1 B
: v' x* S9 V5 f" z u! @- The single-family home average selling price fell 7.1 per cent to $352,689.
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" K6 A6 ^1 R3 h! B- U- The average condo selling price dropped 7.5 per cent to $238,535.* G$ A6 {5 Y( B, |8 N
' }; z0 T4 j5 w) x0 ~, L- In the single-family market, there were 502 houses sold, down from 767 in January 2008.9 {7 H0 ?' ~) a
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- For condos, only 189 sold in January compared to 363 a year ago.4 ^% V2 O* A/ t' f2 O, a
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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( O( _2 o5 i& ?. u$ k: `1 wHe 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.
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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 $299,222.3 \4 }% k j# H% D) 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.”
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+ x7 ^' v# o, xHe 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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