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http://www.edmontonjournal.com/H ... /1248520/story.html
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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.% ~+ t8 f/ w& ]0 `$ q. T2 A+ O
; @2 U6 f1 u9 v0 X/ i; LEvery 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.
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- Value of total sales for the month was $265 million — down 42.4 per cent.2 m4 _8 N& O$ E1 j4 b3 h
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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 $238,535.0 R! `7 s& W* b$ J% R
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.2 M0 n1 ]# L8 P9 g/ s
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- For condos, only 189 sold in January compared to 363 a year ago.
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3 c0 n: J. O" q# JFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.+ b% x+ F' i- D5 `5 F W. {8 x" F
9 A& |" D+ O/ QHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.( o! k, w3 `( ^# y. {1 y( @
7 _5 }" P# M- X" |- p3 j0 uMultiple 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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+ Q% r: V" k4 }5 Y# WSales 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 $299,222.
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; w" b+ f3 F" }3 ~“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”$ `% E5 F! ?& I+ E
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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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