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http://www.edmontonjournal.com/H ... /1248520/story.html2 d( S. h1 u( X- U! B5 S) a& Z4 k
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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 2008.8 y1 Y. a; x$ l- c
0 F3 o4 R: h' l( ^! C4 cEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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2 c2 Q% p; Z# C4 }+ \7 s( M8 ^- Total MLS sales plunged 40.9 per cent.6 K, V! e- M/ c+ W r8 o6 h! y
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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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 $238,535.# s" A6 b6 Q! ]3 e) `" O K/ \9 ^
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.4 `$ r$ h+ S5 o2 P3 s7 R
; [; a) k( q/ c; y: F8 P5 [- For condos, only 189 sold in January compared to 363 a year ago.6 W w6 x+ P* _% a
# @8 R! c$ s- M# y- yFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.. w' j+ M2 y F; N8 t8 R- ^* N, d1 q+ P
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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.
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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.4 w, W/ o. @6 m8 z4 m; S, A
8 m b. q. E6 D1 LSales 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./ w2 V' Z" T) c! v
# {) {& ]- y( I' b1 t1 {“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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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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