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http://www.edmontonjournal.com/H ... /1248520/story.html5 _; A0 Q7 v/ E9 n
/ Y5 s" K: |& @" I' hEDMONTON — 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 2008.2 D5 Z0 {6 x+ [- O9 C; U
* z( f3 V _1 M E% Y4 iEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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. V/ U( Z% s+ B$ y- Total MLS sales plunged 40.9 per cent.
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0 {: c& _# q9 o! n* z- Value of total sales for the month was $265 million — down 42.4 per cent.$ b1 G/ [( U# L( p
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- The single-family home average selling price fell 7.1 per cent to $352,689.% Y( B) n2 [ P' X$ `9 w
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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3 h6 V) D! T( C- For condos, only 189 sold in January compared to 363 a year ago.7 Q' c) p- M, l- M6 O' C) B
2 f1 ]1 U! u5 B# kFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.3 |# o' s& e+ a$ D' W
v) E S4 Z3 M5 L' fHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.- \' ~1 m7 R, M8 f
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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.
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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" j/ D: `* V5 @! n* ~: HHe 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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