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http://www.edmontonjournal.com/H ... /1248520/story.html- f; j- X* \( z0 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., r5 T) U3 v, ]1 q! V
) P2 p7 w$ M+ f5 WEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday." e+ ]8 E1 |* z
8 j- {0 W3 Y$ G7 V- Total MLS sales plunged 40.9 per cent.0 I+ [' k8 M5 p/ [; e1 b( T* Y' c
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- Value of total sales for the month was $265 million — down 42.4 per cent.8 k+ z1 w5 F- b
7 Z$ V! C$ n* T# O% ^- 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 $238,535.
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; u- ]' C0 `# t: Z8 f, B! T: U- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.: ^2 D! z n* x; o* ^3 Q3 Q
; V3 C4 o/ a. n0 G$ L. aFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.$ Q1 J- D) R% Q) m$ t
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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.3 l5 U+ J& f; z- |
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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.! D: f* ~/ {( q* K' w6 u. y% U
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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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0 J" R7 w3 }! ]/ a7 \/ U“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.”3 v/ t z) T7 A! l
: F# |( r2 k. Z) l) KHe 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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