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http://www.edmontonjournal.com/H ... /1248520/story.html& F: ]# t6 v5 U7 n
' m$ `8 u4 S7 \( SEDMONTON — 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.# z- B r- V* c7 T2 V
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- Total MLS sales plunged 40.9 per cent./ w( i5 j4 H* _% O. c) a, K
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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, ~3 h# }, p6 w, l4 P/ F9 |- The single-family home average selling price fell 7.1 per cent to $352,689.* D9 d. }# N. k! r
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.. J. s6 F' x4 I4 x8 E+ V
: {6 U, w8 x6 d+ _- For condos, only 189 sold in January compared to 363 a year ago.; H8 B; }& m u3 a0 V7 u
: C4 V9 \" i7 |3 RFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.* F; h5 `* ?& ^; o+ [8 @5 I
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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% m7 ?* u' _; c! C5 N/ C7 Y4 ^
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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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4 _( a2 M- N9 w0 }' k, K! sSales 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., Y( V5 w7 `( u4 e" W7 k( k
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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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: \/ U9 p" C. f( P& MHe 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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