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http://www.edmontonjournal.com/H ... /1248520/story.html
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& }7 D/ o% ]' q& d `0 NEDMONTON — 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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& J( r. g1 V" p" K" Z4 u, nEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.: H! H9 \ n+ {
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- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.. F3 M( u e7 e/ I
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- The single-family home average selling price fell 7.1 per cent to $352,689.1 ]2 q% C6 o d# B/ z A5 t
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- The average condo selling price dropped 7.5 per cent to $238,535.- |( W2 _( m/ x
5 z/ E& p" Q" l! _- Y- In the single-family market, there were 502 houses sold, down from 767 in January 2008.& z \$ {7 H/ C9 `
) V3 x! ?/ n ]% U* ?- For condos, only 189 sold in January compared to 363 a year ago.
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4 z& t/ ^' B3 E" AFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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5 j3 r: L. F) q2 [! Q/ s; CHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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7 }0 ^8 R. m' P! z, Q; [6 [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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3 j+ b1 ~% }0 t L. fSales 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 $299,222.8 r, f! ]/ i6 _. u7 L h
6 M, o9 l9 i/ ]( @' }" |( z“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”
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( J$ G% X+ e3 aHe 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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