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http://www.edmontonjournal.com/H ... /1248520/story.html3 F$ x0 A! N d% V
~$ ]" S9 g4 u3 Q1 AEDMONTON — 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 2008.6 L7 }! g# y( n1 s
: ?2 v) j- }5 [" S# JEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.5 ~% J4 \. Z" v
5 g1 ]: o3 x3 w' L+ O8 g) A3 i7 J, K- Total MLS sales plunged 40.9 per cent.% ?& b1 g( P3 I" G7 w
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- Value of total sales for the month was $265 million — down 42.4 per cent.5 v4 q+ z8 X( o C0 d
: P, _8 j5 \" e% e4 P3 L5 O- The single-family home average selling price fell 7.1 per cent to $352,689.# |8 i0 K2 p* Y, {& y9 d1 W
7 w+ x$ n: b* H" Z' p) M- ~- The average condo selling price dropped 7.5 per cent to $238,535.
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# q- W2 n: N6 H( o. i9 K- In the single-family market, there were 502 houses sold, down from 767 in January 2008.8 s& k' k4 X5 C! u# U3 y1 m; M w
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- For condos, only 189 sold in January compared to 363 a year ago.
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/ y5 t. N, c5 c6 u# [( IFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.- e J! H# I% a- d: Y4 k5 Q
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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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4 e/ q& z, j2 \, _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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* C, X+ T4 r& F& O& PSales 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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% h0 _! u' Z5 w( q8 r( a" s1 Z“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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