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http://www.edmontonjournal.com/H ... /1248520/story.html2 d1 v. v1 l, I
# G4 }. u9 W I$ c6 t7 f9 JEDMONTON — 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.( P6 Q+ U `# p/ W
0 h+ g9 T2 n" `- N- X( G+ w; LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent./ d/ F1 N) a4 z5 y, T% X n: Q
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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3 H' D4 {3 G5 T, D# x- T, q- The single-family home average selling price fell 7.1 per cent to $352,689.8 ^9 p# I8 Y I( Q" A& C7 u
) q1 @ K" h$ p- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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$ J4 U& D2 Z3 X! W' {/ U0 l4 A; C- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.& | ^1 S' H$ n$ ~; 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.1 n# R8 e. ~% r _
p' _. ?8 E2 @6 R+ A* VMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.: g) }, Y; V, L
* R' u. [# v. D' s. a2 sSales 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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& y: Y& H8 N3 J3 G* H6 p0 }/ w3 o2 ~“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.”1 d) D8 Z/ z) i% r! z* x+ o
% l2 f) ]8 l, u# Y2 c; U- bHe 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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