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http://www.edmontonjournal.com/H ... /1248520/story.html
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0 p. H6 E( _# ^* _' s8 o7 j3 n( ]' }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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" `# V1 z" C! g$ bEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.' N( r6 J; H2 c. J( N f/ U5 E
% T8 U) v) y; g5 n" e) {2 {& h- Total MLS sales plunged 40.9 per cent.
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8 u( d/ M, B1 r& L- Value of total sales for the month was $265 million — down 42.4 per cent.& r/ a0 |9 }1 N0 U- {' y9 b+ t) ]
0 `- X# n( p9 o; r+ [5 p- A" A- The single-family home average selling price fell 7.1 per cent to $352,689.
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. `2 U/ E' C8 Q% b1 S- The average condo selling price dropped 7.5 per cent to $238,535.8 @; g! `: Z8 b5 a- _3 A! p
8 J" l# j$ Z6 P5 b4 h- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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1 N1 W8 l0 T4 |7 L$ C- For condos, only 189 sold in January compared to 363 a year ago.
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* h( M# L3 U6 v+ w9 z3 ZFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.! v! c. I5 P; i& B
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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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% E- q2 b0 z9 W. ~$ d8 g- HMultiple 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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+ f$ X0 P" W% R D; J3 GSales 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 $299,222.. J/ `! ~# P$ U4 h# M4 s* e& s
3 F* p- E2 \8 `6 h“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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