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http://www.edmontonjournal.com/H ... /1248520/story.html5 R/ H! P% M- f. s
7 G' ]4 M7 b; q C# h6 e! |6 EEDMONTON — 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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, H5 A F. H( S! D3 xEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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: I- U4 v9 i1 U c& S/ Y# J Z- Total MLS sales plunged 40.9 per cent.
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! N2 K5 V, S9 Y* s' `% T- Value of total sales for the month was $265 million — down 42.4 per cent.: K: y- f9 K( f& O9 u% M6 L4 H
8 ~* N: m \$ ]3 m! s- The single-family home average selling price fell 7.1 per cent to $352,689.6 i' [) r; u, p& h- M
* P$ W4 I4 _/ C* e! s$ i. ^- The average condo selling price dropped 7.5 per cent to $238,535.$ C$ v# C# g, D6 p7 E
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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.( e, S3 g) A) ^2 z
# h. C4 [2 r% L! \0 H6 o9 _4 jFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.* ^& B6 [9 E' O; M f9 ~
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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.6 Q. U: y: `3 ^, T. J
8 t( Z4 ]5 t1 p) |: \3 _" [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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“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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5 }* K' c8 t: N2 X- O% MHe 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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