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http://www.edmontonjournal.com/H ... /1248520/story.html. m2 w, a# |# l4 E1 v
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EDMONTON — 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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) P7 X7 d6 i$ Q: QEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday., }& z+ D! o) Z1 g- [* r% \, C
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- Total MLS sales plunged 40.9 per cent.& A2 O9 y2 u2 V! r0 Y
7 `' v- C4 P0 Q9 t. c7 D6 Q- Value of total sales for the month was $265 million — down 42.4 per cent.
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8 j# l: K% c* ^0 L1 h4 n; ?- ]- The single-family home average selling price fell 7.1 per cent to $352,689., [4 G& W% ?$ ~8 E e, T! L
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- The average condo selling price dropped 7.5 per cent to $238,535.
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6 p/ W4 w& n% z0 Z2 d% Z: \7 b6 v/ p- In the single-family market, there were 502 houses sold, down from 767 in January 2008.+ s. j9 u- [6 { S% q- D: z
3 i/ r7 Y" b0 S6 x- For condos, only 189 sold in January compared to 363 a year ago.
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& z! S1 X* o3 g+ L0 ^For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.% j2 B3 j7 a- D; c- i/ w
. S2 S: U& B4 w9 C$ |5 Z7 `1 t' DHe 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 $299,222.0 G9 B; |) m" o9 G6 i( U# ?: R
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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.”9 l' N' f J: m% P
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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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