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http://www.edmontonjournal.com/H ... /1248520/story.html4 w8 p- L& I- i3 r
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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." `8 I1 m2 E' _/ n2 g; N5 i) w# m
0 s- i0 \: _9 d9 }Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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: z4 y! P; V# H# }6 q+ a. a8 B- Total MLS sales plunged 40.9 per cent.
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' T, G) s2 l$ p; \6 f K% ^- Value of total sales for the month was $265 million — down 42.4 per cent.
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9 a# U% O3 L J1 ?* B$ j- ?* q- The single-family home average selling price fell 7.1 per cent to $352,689.
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& {/ c- u: |' H- The average condo selling price dropped 7.5 per cent to $238,535.6 L. i; e; n! z! ?7 ]7 j
( Y4 b. ?% o T6 a/ _9 l- In the single-family market, there were 502 houses sold, down from 767 in January 2008.; J. j( {% Q1 b: H) K5 G- q9 E
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- 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., Q! C5 q3 V! r9 H* S
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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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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 $299,222.
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5 L+ i7 z: m( Q, r, A: P“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”! w8 {3 T2 ?+ t) z$ z i; C% r
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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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