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http://www.edmontonjournal.com/H ... /1248520/story.html
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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.
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.0 r4 c: k' b: c9 \7 {
& q, T+ v c$ g/ ^5 E) t- Total MLS sales plunged 40.9 per cent.& s+ s8 H$ N: q/ t9 M
8 ^0 ]# E( ]5 B& o" C* M2 y- Value of total sales for the month was $265 million — down 42.4 per cent.6 ?! ]3 U2 N5 B
9 M- w$ [5 u0 e- The single-family home average selling price fell 7.1 per cent to $352,689.. @: F+ U0 @) b
5 L1 X m+ A7 G! Q+ Q- The average condo selling price dropped 7.5 per cent to $238,535.- q" \ ~, S! T! f* Q
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- 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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/ i1 [/ l; v# Q# G( D* b: d/ Q' WFor 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.
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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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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 $299,222., H- ^: [2 q: E3 b# T; z
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”$ O! {3 n' C D+ W0 i. x y
$ b% M' v4 F! {- ?$ S1 sHe 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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