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http://www.edmontonjournal.com/H ... /1248520/story.html& f. X4 N4 L: v+ o: @
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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.- B7 A9 ?- a4 O) j2 P h- U Z3 B
' i; O; R; X' W) m) E7 {Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.+ f2 H. ^" f/ i8 M( X
. N# V% e9 o D% g- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.! k; W+ D) E: t( @' c. i# F
' B* n. u' D8 X# O7 x; S, y- The single-family home average selling price fell 7.1 per cent to $352,689.! H! w6 s" A+ D) N9 \) v% m" ], P
2 v" q Q$ J+ V- The average condo selling price dropped 7.5 per cent to $238,535.( I$ _7 W) a2 s/ ]* Y
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.9 b, r8 h$ ]7 ?8 H
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- For condos, only 189 sold in January compared to 363 a year ago.4 F L3 p. E' j* O% ?1 _+ F4 {
. P7 V" b3 ^9 O% m" k6 lFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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0 o9 b- R6 i( l- T# L2 o$ Z( i, _( E' mHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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, c" Q* a- h: m1 J, s; [. 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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. E5 a. Z) Y$ B f, G4 c# y- NSales 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 $299,222.5 v3 f, e( o! m2 W* s
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”$ o0 |3 n0 }" r$ P! W* v+ {
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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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