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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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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4 P; U& ^( L. d2 h, O- Total MLS sales plunged 40.9 per cent.
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6 U, O5 T+ y: H4 A8 f3 y6 t8 V- 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 $352,689.6 z; `: F! @ T" Q9 W
& K" H9 A( X, g, ]- The average condo selling price dropped 7.5 per cent to $238,535." b4 J( H, h5 h, l
8 G+ }# X: p6 M, u) P o- In the single-family market, there were 502 houses sold, down from 767 in January 2008.6 W6 X' \. `* Q& m
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- For condos, only 189 sold in January compared to 363 a year ago.9 b- f" `) S$ x* s: q8 h
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.# K9 |' T, o5 D1 ?
8 y2 m; w8 N2 ?5 I; IHe 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.
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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 $299,222." s. l; `9 {/ j$ {
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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.”
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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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