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http://www.edmontonjournal.com/H ... /1248520/story.html; O: }) x- C+ q- B& v' C: u6 N
6 i% g# }* E( x- E$ bEDMONTON — 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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& C. v3 M1 o. d- u1 ~Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.+ r- C# ~3 j' X9 s, O3 k: A
6 q6 m1 n/ E' J) V- Total MLS sales plunged 40.9 per cent.
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, o+ s* H8 l2 l0 `+ a' P+ E- Value of total sales for the month was $265 million — down 42.4 per cent./ M* ?+ h, n4 v T, C
" _) U( V; p; S- The single-family home average selling price fell 7.1 per cent to $352,689.
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$ }6 W& ^! A& L" L9 F' ^- The average condo selling price dropped 7.5 per cent to $238,535.7 E# o- m; M# e; O9 @
T% Q0 ~ f1 O- Q! F7 S5 D- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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8 g8 z% ]* J5 K% T3 o- For condos, only 189 sold in January compared to 363 a year ago.% D/ H G f- ]1 s$ S( w$ _
5 v. K @" Q" R* l/ x, OFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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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.7 K" f) ]% H) p. V
2 C/ F3 e% l/ ?' D8 VSales 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 $299,222.' o$ j* s% F( \8 I* ]7 s
, K, O9 { M7 [' B1 t“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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' L$ g: |* H( A, @# THe 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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