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http://www.edmontonjournal.com/H ... /1248520/story.html
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' Z! t7 b% P2 m% f6 o8 D3 TEDMONTON — 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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- u* d% {: c ?. C9 gEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday./ N8 s# [/ [/ z' J" [) h; F4 s
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- Total MLS sales plunged 40.9 per cent.3 _, v& X; |; {( E1 M5 W
4 e/ ]0 I3 P) y; c* V3 l: e# `! \- Value of total sales for the month was $265 million — down 42.4 per cent.1 _! i' l& ?, Q1 A @# n
" q( s( s& l! z- 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 $238,535.+ M% J+ m4 b# s% M/ t
, r* b1 M8 h/ z$ m! L# H" t- In the single-family market, there were 502 houses sold, down from 767 in January 2008.* {' Z0 y9 X) y7 P9 i9 ]( I
; d9 K7 w- d& G/ @2 t9 n9 O- For condos, only 189 sold in January compared to 363 a year ago.
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# B3 }# e/ d6 {6 T3 U# mFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.2 R5 N8 j( W9 f! o2 ~' I% Q4 G! W
) R$ p5 @2 r Y. ~. z( ?. d. [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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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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" l2 ~! e5 W4 k1 s* d/ _/ m6 MSales 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 $299,222.
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”3 h( c a5 w. @) r# ?- A' v9 Z7 l$ X
" P! `# p6 A" i8 VHe 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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