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http://www.edmontonjournal.com/H ... /1248520/story.html" Y# ]- v p+ s T! u5 F, N# p9 V9 W2 k
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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.: a. [2 e: w$ h
2 p) \% x! t/ w9 H* J' [1 [+ H9 xEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent.
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5 M0 p& X7 Y+ t) r$ P' N* q- 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. Q6 d" Z m5 l7 k. Q2 t! F2 \) g
+ y' H! H4 s) y0 Y7 m- g, s- The average condo selling price dropped 7.5 per cent to $238,535.( }/ k9 o; N, Q; {# D
) S" g4 b! V3 j. u, B1 p# x7 q- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.
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3 m% ~- m) }( A' m4 EFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.$ x& y$ f( c$ S; N) H P
% Q- s+ ]) Z: g: o0 {3 FHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.4 M9 f; h7 V- t
' j- h/ L/ P: `* w+ v9 CMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.* g0 N1 Y, i" d- [5 w7 ^$ V
+ R! [7 v% p9 l6 Q! W xSales 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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“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.”! d' Y# o/ z* {
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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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