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http://www.edmontonjournal.com/H ... /1248520/story.html: X* n5 s# [3 t7 I- l
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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.
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- L8 M: x1 E% X) _Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent.9 U* Y. w: g+ k
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- Value of total sales for the month was $265 million — down 42.4 per cent.- d$ s, s# G8 {2 w* N9 S; w7 L9 y
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- 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 $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.* x' V* k) B0 F2 Q/ @7 P: r- g
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- For condos, only 189 sold in January compared to 363 a year ago.
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4 @! v, [ }2 p( ]' vFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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& o7 E7 _$ d. P2 i" n2 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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2 K: b/ D4 O: _9 J. ^6 z8 @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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“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.”& ?6 [* S5 ~& H1 L1 h# S+ U
2 A, t& v0 E2 }; @1 U+ 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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