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http://www.edmontonjournal.com/H ... /1248520/story.html
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# m+ {" T1 ^. j& f& @) U# rEDMONTON — 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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- Total MLS sales plunged 40.9 per cent.
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8 m( i: H: O" s! d) C- Value of total sales for the month was $265 million — down 42.4 per cent.
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+ r* f, x. f* p0 y) z# ]- 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 $238,535.9 t% G' y- Q' a3 n' C/ L
. N0 S6 z" D" E+ V0 F, I ?- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.
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3 ?+ J7 y* b; P3 [2 kFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.( }3 ?+ q6 R/ a" ^
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He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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7 e# j, j7 s P7 D3 X {Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.# L' C3 M* e' N+ `1 \0 \
# X1 g. |$ E! `1 i; Q# KSales 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 $299,222.
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# y4 Z! o- t6 r! a& L“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”" D& k C& T. i5 M. [) o5 k# k
6 q$ y) i) q* oHe 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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