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http://www.edmontonjournal.com/H ... /1248520/story.html2 L8 F8 Y1 X. i9 \' |/ ~( p
# \7 [: N. i2 bEDMONTON — 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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& i' q% j& ] K1 N! ?9 HEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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8 Q* t- h! W2 b8 j! C3 y- G$ m# z- Total MLS sales plunged 40.9 per cent.- [/ Q4 I, T3 {, `
, U# g' q8 q* I$ S! @" b- Value of total sales for the month was $265 million — down 42.4 per cent.
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) s3 s2 {7 _7 Y( H( H$ E- The single-family home average selling price fell 7.1 per cent to $352,689.' i! Y3 Z* O% Y0 w
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- The average condo selling price dropped 7.5 per cent to $238,535.; K4 u- m- z9 ^# \) g
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.% a; d7 P# s& L3 v
P0 b8 u5 ~2 A6 _$ Q& F: M$ L5 I- For condos, only 189 sold in January compared to 363 a year ago.
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4 {* Q9 J% _: D: C; f3 hFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.+ Q; e9 v3 I8 _: v4 ^2 K
. y7 n- f \7 \* \ E0 r& rHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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- Y {, x2 a, l. C) I$ `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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8 z) M4 I2 e2 f7 o$ C( b, hSales 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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9 I0 ^; z6 l! b% UHe 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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