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http://www.edmontonjournal.com/H ... /1248520/story.html* D7 |; e5 v' Z4 Z3 \
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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 2008.5 O5 k7 r9 ~: E6 A, `+ @1 r6 T
' q3 J( x, z# C5 m4 hEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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; H' r% n) ]. X' u- Total MLS sales plunged 40.9 per cent.' ]: ^5 v& ]) D) H
/ w; p3 a8 l$ d2 @7 M# L4 ]- Value of total sales for the month was $265 million — down 42.4 per cent.& l X2 }& [" G7 r
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- The single-family home average selling price fell 7.1 per cent to $352,689. @3 K/ ~2 f) g' ^5 n. M
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- The average condo selling price dropped 7.5 per cent to $238,535.
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6 f. P- J$ L0 X- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.' m* h0 Z% k( ~6 M' n
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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* J: ?- T6 V- \! p4 [. W- CHe 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./ x1 p% f- E9 @6 q" \6 G
+ y5 x4 D3 S( _' QSales 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.! V9 w( [! D3 v1 P9 K
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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.”
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. ` H; h7 q( L: a9 g% eHe 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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