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http://www.edmontonjournal.com/H ... /1248520/story.html
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" C0 I' t& A2 ~! D4 Z" y2 IEDMONTON — 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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( I2 @( H3 w/ F r5 j- Total MLS sales plunged 40.9 per cent.+ G+ @& q! d) A& o. g4 [
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- Value of total sales for the month was $265 million — down 42.4 per cent.# `, B' @, Q8 h% ~' X6 J. L0 Q
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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- The average condo selling price dropped 7.5 per cent to $238,535.+ t w4 O# f, o) W" _
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008., L/ ~- t- E$ L! J
1 T4 O. C/ S+ t; t; w- For condos, only 189 sold in January compared to 363 a year ago.2 Q% p5 I5 Y! z; g" i
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.# a+ e* I2 I9 N0 c3 a* u, U
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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.. k# c% Y: W, O
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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.) c6 |* T! f$ A* `( H* Y3 y- A 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.
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2 r3 a0 @+ L, [6 N“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.”8 f# S7 g4 r6 e) n8 R
8 n* M, G5 {8 N: ZHe 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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