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http://www.edmontonjournal.com/H ... /1248520/story.html/ ~( ?' {, [( i3 a5 a3 J
+ Q# |8 @, I7 K3 nEDMONTON — 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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0 c' g! j O! LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- c5 F$ ^, Y Y4 z8 R- 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.
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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 $238,535.$ M% F4 M; b2 |3 k& |: z
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.7 p4 s4 [ r3 l1 l8 L8 c8 h- R
1 X8 f1 _1 y2 r6 j+ M1 K; i- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.% C% G7 O0 n/ h% d. ~
! O5 |8 n1 y: ]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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( z0 s0 V9 h3 N9 m2 M8 d" RMultiple 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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+ H/ G' V. B3 nSales 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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# ]" R; b5 w/ n/ U“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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3 b+ T: I, W( YHe 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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