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http://www.edmontonjournal.com/H ... /1248520/story.html; v0 c& }+ f9 P6 z8 w3 `
4 i a7 c7 A5 Z+ W. L/ n, iEDMONTON — 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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1 c: {- e) ~3 U2 ~7 x, b0 Q# LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.2 U; W' h9 Y! c* `- @ u% N
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- Total MLS sales plunged 40.9 per cent., h; j. h" P9 w( t# {- ?& J& E
+ v. ], Y, X2 Q- Value of total sales for the month was $265 million — down 42.4 per cent.
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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2 D$ E- [) c9 `0 p- 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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% a2 F( T& P2 t4 q1 Y- For condos, only 189 sold in January compared to 363 a year ago.
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6 I1 h/ D7 N. y3 H- VFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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0 g) c* V1 l) P8 H1 d7 }, CHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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/ Q/ [* U) s1 C& }( \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 $299,222.0 Z2 Z" V! A4 _9 y" l, |# S
1 d; l3 z- R1 A( Z+ N& u" L“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”! S4 u& Z2 p: d7 t" E5 i& k- N& B
% k3 n8 g- V( j$ F& \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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