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http://www.edmontonjournal.com/H ... /1248520/story.html
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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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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3 a0 ]% b: s6 W5 |- Total MLS sales plunged 40.9 per cent.) k6 ~8 V4 t( r0 Z" l9 P
I k! ?# |/ U3 @/ c" `4 d- Value of total sales for the month was $265 million — down 42.4 per cent.6 A# X: k5 E9 c; i
]% Z0 m7 n; f9 l2 |- The single-family home average selling price fell 7.1 per cent to $352,689.
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8 g2 D3 U& w I6 M- The average condo selling price dropped 7.5 per cent to $238,535.% T4 c. ~2 w' @7 R9 d, @5 V
9 J7 Y6 s+ ]3 @$ P8 K4 o$ U% U& n- In the single-family market, there were 502 houses sold, down from 767 in January 2008.; O" `' z0 Z9 g, |
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- For condos, only 189 sold in January compared to 363 a year ago.0 \* o3 g; g# ^9 L# w8 G$ E- F; U
' U, m! n4 N9 g2 M9 m! _For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.4 R+ T, Z- |2 d# v( ?
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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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) }3 r' ]/ S/ [; N6 |Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.: p j! D( ^" P/ y+ l5 y* e
: a) J0 R( V+ f: _/ rSales 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 $299,222.$ i8 U% `" ~% h2 Y8 O/ e+ q
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“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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5 k2 I- g: k* O% AHe 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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