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http://www.edmontonjournal.com/H ... /1248520/story.html2 A- {" V& B) f- z5 i9 d
" W9 h1 n0 R0 B+ Y M5 W! JEDMONTON — 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., E7 I Z$ \6 [ L v7 P% O9 e
# o( U) [+ W* H$ FEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent.
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$ z( s* w W) B3 m- Value of total sales for the month was $265 million — down 42.4 per cent.2 L4 @1 ?1 q* l' k* b9 ?; _' T
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- The single-family home average selling price fell 7.1 per cent to $352,689.7 j2 {; c" K# g" |3 C- m1 J1 w8 `
% y8 C/ d W) o1 G& R0 q- The average condo selling price dropped 7.5 per cent to $238,535.
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" F$ U3 u. G2 g- e: E, m1 f- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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3 c+ F4 y* W2 ]: j- For condos, only 189 sold in January compared to 363 a year ago.
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H! s5 e% o. K- C1 _For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.$ b) |9 e( `8 Z- {3 }- W' F( H
8 d! m# u. `* g+ N- zHe 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.
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- q: H# j! S4 @# _% z' q“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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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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