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http://www.edmontonjournal.com/H ... /1248520/story.html
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* `& ?/ f! x/ L, J7 H: ^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.- S7 q2 n; e v# c
. n5 m% m3 z2 F/ N, L* }# PEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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6 V3 R% r/ u' @" R! p& S- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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, x( M+ F3 l" _' u/ a8 |$ X0 F8 V- The single-family home average selling price fell 7.1 per cent to $352,689.7 n# H o4 R |0 I
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.9 }2 `% k5 |( ~$ Z6 I
9 `" ] B8 H0 Q9 f. r; UFor 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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5 ?# {0 X7 V5 b! ZMultiple 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" y2 X2 y' G7 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 $299,222.& ]) u% e7 Z) }) }7 e. d( O
1 O, H! z/ T$ p5 C3 W“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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