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http://www.edmontonjournal.com/H ... /1248520/story.html
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" r& q" ^9 o. q3 {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 2008.7 N& ^) \$ i* g; {5 y5 g3 Q# | X
3 z" B3 ^/ i8 s0 |' ~" j' dEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.* @8 y/ o; |4 M. j7 {& g
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- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.$ t; W: F' I2 f1 E% o1 Y8 Y
/ _+ p8 \ E0 k( y2 a, b- The single-family home average selling price fell 7.1 per cent to $352,689.
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- The average condo selling price dropped 7.5 per cent to $238,535., f% k8 ?/ W; G( @1 u
, f: t/ [* _" i# X% F' Q! v. A- In the single-family market, there were 502 houses sold, down from 767 in January 2008., N. R" s+ w' ~
% A0 k0 v/ C! h* W% [: L% I- For condos, only 189 sold in January compared to 363 a year ago.$ X$ G/ F* r: n# `9 l2 L- \
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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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." E. k+ E- W9 o
^5 n* C( U& r r1 yMultiple 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 $299,222.- O+ x- c7 L! W7 u- z" Q5 R& ~
, ?- B- V" R& Z7 H2 |0 d$ O“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.”1 p' G0 ]6 ^7 l2 y
6 p8 I* P3 m$ a% v4 d7 n: vHe 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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