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http://www.edmontonjournal.com/H ... /1248520/story.html
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" _2 O3 [0 h( T% I5 s) REDMONTON — 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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6 Y+ c* p: b/ |# F5 k* wEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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. T$ F$ t4 a5 n+ C$ b9 R+ x9 F- Total MLS sales plunged 40.9 per cent.+ B+ q Q9 d( w
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- Value of total sales for the month was $265 million — down 42.4 per cent.4 c. ?) M1 `0 J1 O
/ C6 i# ]0 l/ p# o5 M) P- The single-family home average selling price fell 7.1 per cent to $352,689.
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1 c, [: ~2 M. u5 z( o) ]3 ~- The average condo selling price dropped 7.5 per cent to $238,535.
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; M6 s& @9 |$ [! `7 {- In the single-family market, there were 502 houses sold, down from 767 in January 2008.1 R5 U# n7 `6 [- a) [2 R, g3 Q! I
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- For condos, only 189 sold in January compared to 363 a year ago.8 F3 b' a' o+ s5 ]$ U& d
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.$ N( K0 o- | S$ D- G; h
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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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; U" W6 G4 V" b @0 EMultiple 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 $299,222.& n; F: C6 Q$ Y- d% X1 `- d" G
+ Y* o O8 O- A3 A6 l“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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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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