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http://www.edmontonjournal.com/H ... /1248520/story.html5 x5 D( w5 x, l
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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.! R" P0 a5 D% ]+ l
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- Value of total sales for the month was $265 million — down 42.4 per cent. t6 X @9 G' p& G
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- The single-family home average selling price fell 7.1 per cent to $352,689.+ `9 s. Z" |3 b, j7 Y) t5 t( s( [% V2 l
; W$ l2 q9 z* Q h) ]- The average condo selling price dropped 7.5 per cent to $238,535.0 Z9 @2 T* s! A' k2 A7 I" b1 b! V
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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3 u6 q* m1 a5 _- 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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2 s3 k6 }0 o7 j: U* {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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“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.”6 x8 e; E4 X6 R/ s Y
" s( p( l Q9 q y3 B/ b GHe 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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