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http://www.edmontonjournal.com/H ... /1248520/story.html' D5 [$ q, a8 I) g* N/ j# U
# d# q$ s4 P f- `$ CEDMONTON — 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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- S9 \( w; M" JEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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6 L/ [5 V, G: ?) c0 s1 g3 {- Total MLS sales plunged 40.9 per cent.$ z4 X5 P8 j$ w) q- G7 D$ T# A) A
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- Value of total sales for the month was $265 million — down 42.4 per cent.7 {$ r2 O- [7 l
' ?( Z3 T- l9 M- The single-family home average selling price fell 7.1 per cent to $352,689.
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% i8 x9 `' h# i2 Q2 |- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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r- a4 Q# g# ?8 @0 x4 V* M) V- For condos, only 189 sold in January compared to 363 a year ago.
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: I K5 b) R" i: S) B) {For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.$ Y2 V* G1 V4 K( b
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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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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 $299,222.# {. o* A# W& g3 ]. ^; e+ V
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”7 C# i. ?3 {$ U- [3 b
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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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