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http://www.edmontonjournal.com/H ... /1248520/story.html
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0 Z5 X. H( Q& S6 u/ c' w! ZEDMONTON — 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.+ o ~/ L* u0 R
8 p5 ~& g" x% g' E: w& QEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.1 W# ]" X! @: n- q+ u
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- Total MLS sales plunged 40.9 per cent. I, w2 s: l0 }. V5 r( h: [1 M
% `5 b) Q, P# |. H4 L% @- 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 $352,689.! h3 _$ z. M- i9 H! Q) T6 X7 f3 j4 \
1 q. ?2 @/ ~% }: `8 q- The average condo selling price dropped 7.5 per cent to $238,535.& [! ~# A* b- a, g9 i$ h6 X
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- 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.; A2 Q& t4 B1 b4 m
. v1 k4 a$ B- N% \9 L$ k" ^For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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% ]4 n& ?% B: I9 SHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.2 ^1 k! J# i* G4 W* b
$ S6 X( U8 q; F/ k. ^' s0 q1 AMultiple 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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. a8 E0 C" k& R4 f6 _/ a6 h+ CSales 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 $299,222.
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! U% \; ^' ~( w5 o7 C$ G“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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