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http://www.edmontonjournal.com/H ... /1248520/story.html# @2 o2 g8 g- m8 C
" z7 o1 R; \$ @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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) P- g! C( q, {+ i6 e/ r: x$ a4 |% iEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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0 d k+ z" c2 {9 Y- 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.2 {5 g: u# V/ g& `
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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/ H& ~/ `; i" H6 O- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.) m1 l+ i8 d) q2 N7 c; H2 _
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- For condos, only 189 sold in January compared to 363 a year ago.2 m: p! C @' @; U2 }
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.! ~4 ^- M1 f' T
. T5 M$ n! B! ]" }" [9 yHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.3 e8 V- ] L: o- d
' c: }7 l* S5 Q- i7 {4 _1 ~Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.0 a' A. |* I* {" y4 L
% w ?$ G( Y; j; } X |/ qSales 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 $299,222.
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, v, W* L( x, B2 G. r; M$ S“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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/ n2 C+ q: r$ Q: h) a# U2 z' o3 GHe 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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