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http://www.edmontonjournal.com/H ... /1248520/story.html1 d1 {2 @2 u8 ~
9 Z1 ] r" X/ W, QEDMONTON — 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./ B0 z* D: t' n9 L% K7 T" ?5 m
8 m# p+ n f+ z' x! L; Y+ r5 i& fEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.$ _. s5 {& _# H/ ~
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- Total MLS sales plunged 40.9 per cent.. u, A$ d" @+ H0 G" e, z8 a0 V
; P0 P$ D- V/ X! _$ A3 j- 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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. _* Y2 X6 \ Q6 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.. c( N- A2 H, g2 J. S+ v3 r
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- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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& h5 {( D. W L% y7 PHe 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.; M7 C3 V# W. R; W# K6 O+ ]
# B0 d1 u+ \0 RSales 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 $299,222.3 o- _9 O& V ^& }9 h
( l) u, k' V! H“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”! W `4 I3 q, Z- H0 ?( K, d2 P
; x0 @& ~7 r$ B/ r1 `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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