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http://www.edmontonjournal.com/H ... /1248520/story.html' ]- y8 o* |( F( Y; H4 ^
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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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- Total MLS sales plunged 40.9 per cent.) A2 g- U5 A' ? z+ `' i
0 w; L" h# \0 p3 |; ?- 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 $352,689.! j2 m" M, s$ v" j* _0 ? `" f0 k
% E7 A& D% l- f6 H- The average condo selling price dropped 7.5 per cent to $238,535.0 [6 N0 f1 ~( o2 P5 l, c2 U
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.% T4 t. s0 @! y( m7 U
$ z. ^) H% s5 m k' C- 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.
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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./ P, J9 X2 w9 ]0 e( o9 o: Q& N
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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 $299,222.; ?$ F) k: \9 N2 j9 t" _" R4 ]
' v5 N, d I& j2 X6 @“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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/ A, @7 S$ z# v; G. S8 OHe 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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