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http://www.edmontonjournal.com/H ... /1248520/story.html6 W, \; n; E4 N$ q- |
2 I7 h; v8 N$ GEDMONTON — 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.
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" `" _3 f z; v% u- Total MLS sales plunged 40.9 per cent.2 z- i! R* y2 }7 S8 y) [" R
6 b: t- h3 X9 `6 h6 a/ _6 C% u0 e- Value of total sales for the month was $265 million — down 42.4 per cent.: m/ S3 f3 z8 N6 ^) \
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- The single-family home average selling price fell 7.1 per cent to $352,689.' `3 l' O/ C( ?7 F2 H
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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.
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- _, T; x% X4 y2 a/ ?4 m5 r- For condos, only 189 sold in January compared to 363 a year ago.
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& `' v7 r6 G2 O( I0 AFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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5 m D3 T* h& x& Z1 pHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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" V6 q! `4 ]7 L3 {2 T0 JMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.. R+ Y. ^& w, I
Q) \$ j1 Z2 H- V: o* r h1 MSales 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 $299,222.- m$ G. w; P/ W- Z& B3 [1 c
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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.”9 _9 i3 }- o- N" r* [0 H/ N
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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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