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http://www.edmontonjournal.com/H ... /1248520/story.html8 O. b! E5 f9 m9 N- J% A
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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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2 |5 H3 @* n7 P8 D4 C) D; B- t0 DEvery 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.& w6 ^; E8 C" ]) Y* X3 w4 S
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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 $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.& G$ x+ M) X* c% B
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.% k! r1 a8 H+ C' W0 l
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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.( _9 }; U" N f. u2 J6 O
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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. U+ i2 z9 P; o) d
- \7 f8 H& s3 `3 B# C8 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 $299,222.) L3 ]. r x: G) C% E
9 B) m- A6 p& v6 G S( I% i“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”
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) j$ g% c' z' T3 I, ^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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