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http://www.edmontonjournal.com/H ... /1248520/story.html
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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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, p5 Z6 K5 {' `* r: x6 V4 U0 o0 G0 @Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.) I! l* s- x8 E+ I8 L U5 M
; ^# W( l9 q1 l R7 M- j' c- Total MLS sales plunged 40.9 per cent.7 ~) B3 ~: H/ K# i* v/ w
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- Value of total sales for the month was $265 million — down 42.4 per cent.0 ?; P% Z, E! K: Z. f
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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, f2 ]- C# c% O0 C- The average condo selling price dropped 7.5 per cent to $238,535.
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5 l6 v( H3 ]/ E* w- In the single-family market, there were 502 houses sold, down from 767 in January 2008.2 X: Q+ {) p+ e( j2 K6 a+ ^
, `; F$ x0 |7 ^- 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.; }1 y$ E# R3 k1 O4 Q h' P
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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.9 ^4 h1 k/ O- X0 {2 M/ B: t* P: x% X
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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.; j- K6 Q3 d5 L; O1 i6 N3 J+ d
' H) I' u: x& Q& O. [* G& {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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& W9 f% C2 T- l' i5 ^! P“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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