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http://www.edmontonjournal.com/H ... /1248520/story.html+ K* f, `% p/ C( Y- g7 y
) D4 J* h7 ^6 W- P3 ]) 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.$ K1 ]. {7 K, D3 \
( ~( i$ ?, J6 N/ B- t. }" E LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.( `* c \' {6 V/ W( q* L
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- Total MLS sales plunged 40.9 per cent.
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! c/ i1 V! V- ]: i. b- 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 $352,689.$ r8 G3 g& V7 T
2 x5 m1 D; ~- b5 U( ] V3 T- The average condo selling price dropped 7.5 per cent to $238,535.; i# ^9 o8 h3 X: O* L3 l( }
* J( p [+ ]3 x- In the single-family market, there were 502 houses sold, down from 767 in January 2008.! C* _6 s# r* I8 f
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- For condos, only 189 sold in January compared to 363 a year ago.
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# k# A) E0 k1 ^4 H; L; V% X6 [For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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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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2 f3 M/ G; m, R" ]; @4 JMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.3 {* w, |# b3 K: E
( v) {+ Y; U8 S6 d- JSales 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 $299,222.' v) ~, g6 T) }- {! C' T& [
, A2 ]4 G* m' {8 X$ C- a“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.”5 G! V* ]0 g# Q; i1 [
. c) F% w+ K, w! o! a; M( \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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