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http://www.edmontonjournal.com/H ... /1248520/story.html
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5 M) I" H/ ?" L5 H# N$ jEDMONTON — 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 2008.0 B6 e; C( {) ]- i/ l$ L
- G/ j/ l9 f5 o* UEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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) ^; Y, L, E$ u/ _- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.. Q9 |( Z; b6 R5 J) V, Q" b k
9 u- O$ F' ?( l/ ~& _; ]- The single-family home average selling price fell 7.1 per cent to $352,689.# ^+ P, h' g2 }; o0 v1 w- @" Q
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- The average condo selling price dropped 7.5 per cent to $238,535.: z, J2 e; T$ p4 ~
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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.
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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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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.- T, w9 |1 c/ g; a
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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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4 b' V W: \3 @: b S) f“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.”8 t. i+ G }4 V" h* {; ~3 \. h" n
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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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