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http://www.edmontonjournal.com/H ... /1248520/story.html
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# z. ], b) T7 O3 z6 ~+ Y( 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 i F# [! b. ~# e6 Y7 Z+ C
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.0 [% m" J' X- Q
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- Total MLS sales plunged 40.9 per cent.% k* e7 c; m$ k4 q% e
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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- The single-family home average selling price fell 7.1 per cent to $352,689.# z+ ~. I9 G+ l" }4 n+ q* m! z) |
) w! R8 f& E2 O- {+ Z- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.5 r( S" e+ }9 ^8 @
9 u( G) g) u! s2 U. b" Q1 G- For condos, only 189 sold in January compared to 363 a year ago.
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9 x. U9 ^0 M4 }For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.% N5 E0 q; P& `) G C
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He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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. Z5 a- L( H( r) J5 oMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.1 m6 K8 d$ M+ j! ~
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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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. \+ x4 ]8 x4 | N0 G+ D“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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5 c- }% q6 g6 w; J6 Z( ^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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