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http://www.edmontonjournal.com/H ... /1248520/story.html8 u, ~8 ^6 O7 d5 {
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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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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& |/ u; R; W: ]5 i3 Y- Total MLS sales plunged 40.9 per cent./ k6 h$ |0 C( {" V% [
/ t7 G q: P0 |6 v N) I- 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.
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' _( j* _( M' ~2 y5 M/ H! ^- The average condo selling price dropped 7.5 per cent to $238,535.+ t- x/ E' U% J. H, x5 I' N
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.# o }" }& g9 J- q# [( O4 o
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- For condos, only 189 sold in January compared to 363 a year ago.4 Y+ H! J0 X9 U
0 Q1 E ~6 a2 q9 ? f3 z5 `. r" kFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.& ]) j4 j- ]* n4 Q
( T' C3 x" W- z; C8 aHe 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.4 ` @* ?3 q O: p
/ |/ [# w( J# i, {+ H' ]1 y# V2 \/ PSales 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 $299,222.* g$ F, I9 [( H/ v. Z; F
- H8 n( {: n$ }) ` y& Y“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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