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http://www.edmontonjournal.com/H ... /1248520/story.html
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* V P1 N5 z0 r# R1 e/ q3 Z/ H" BEDMONTON — 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.: Z O& f4 b: W8 u; \& ]" B5 a
# A& `1 [& t; HEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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/ X; d& `, z# u$ H+ Q- Total MLS sales plunged 40.9 per cent.
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9 K7 s6 l3 A5 a4 j1 z. Q- 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 $352,689.& h9 l$ B9 s) J
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- O+ f! v' b# c) \% ]- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago./ q! F% u; X. ~
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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2 d8 e0 M" J6 H$ |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 $299,222.
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' Y2 p8 g6 R) K; B0 Q" W# G M$ e“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.”5 M/ ]9 k& s1 r1 D! E4 ?- v3 ~8 ^
* I% X( x9 f3 M' B( aHe 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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