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http://www.edmontonjournal.com/H ... /1248520/story.html
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( q; j7 c6 @: o7 w+ d; EEDMONTON — 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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2 B6 `# w6 d; o" C" t3 _: E0 H& R. @- Total MLS sales plunged 40.9 per cent.; [" ] j+ y" [
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- Value of total sales for the month was $265 million — down 42.4 per cent.) c# r7 f" i, i- o5 h4 q" N7 F2 x
|. x7 i/ O% I- The single-family home average selling price fell 7.1 per cent to $352,689.) U, d7 Z2 f0 w: G+ W( F2 x
% Q* X3 m& @. Z1 U; p6 c- The average condo selling price dropped 7.5 per cent to $238,535.5 b. v' S1 w/ j( K* ]
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.4 [* A7 G3 d) o! |' x- [! a4 k
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- For condos, only 189 sold in January compared to 363 a year ago.* c" `% V' r# a
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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9 v- h' T+ H- q) PHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.: A" j( J* p' {+ r. Z- `7 a$ v! h1 X
/ F R: p7 g6 M; ]$ ?4 Z2 R- ZMultiple 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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- Y! s* e% p/ c) M7 \' p# |“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.”- t# i2 b/ C5 `- m
2 Y1 |4 V% ?+ z. _ z* ^, |0 |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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