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http://www.edmontonjournal.com/H ... /1248520/story.html
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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." A8 ?+ U! @- u, j0 Z+ U
: [" E( d5 [5 i/ `2 LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.3 N7 {7 |3 [' }6 u/ T
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- Total MLS sales plunged 40.9 per cent.$ `) M, O4 {- n2 l: S
2 w Z2 A* B. x- Value of total sales for the month was $265 million — down 42.4 per cent.+ d0 o2 Y( f/ L) t% W7 t
& z, z$ b! j7 E9 _+ a# h- The single-family home average selling price fell 7.1 per cent to $352,689.
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- The average condo selling price dropped 7.5 per cent to $238,535.2 K6 K5 T; ?- ]" }3 z7 w
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.3 s! u2 i3 U0 K" m0 m) G+ ?
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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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( o. r7 r- x r; _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.
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% A1 e/ T( T# e" [“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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! I' S L. G* s2 M2 f3 j' ^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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