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http://www.edmontonjournal.com/H ... /1248520/story.html$ W- E: X% i) q- d( y
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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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4 Q- V3 m/ I3 Q5 f- B: xEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.7 H6 X; k3 j8 S" S5 u4 o5 I
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- Total MLS sales plunged 40.9 per cent.0 X- d# C) J" \- g: ?
# m: r1 ^6 j7 Q* r- Value of total sales for the month was $265 million — down 42.4 per cent.3 Z1 D! M- Y2 C& o) f( u. l
, K6 y W( R# P( s' n8 [- The single-family home average selling price fell 7.1 per cent to $352,689.
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( [$ J1 g9 y: M1 A; v: g- The average condo selling price dropped 7.5 per cent to $238,535.& z4 O. U+ s6 g% |) k
7 w# z, m& M( y4 Z4 Z0 Q; ?$ ]- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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/ Y8 R: D; j: M6 i' u, S* T- Y9 K- 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.) X; G `# [) \. l( m- T4 X: F/ P
9 {% j9 [1 c9 o2 c/ Q8 G+ D$ cHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.7 f2 L5 ?, U$ ^: M* K- Y0 j: j
( C# _3 H& N. n0 n3 i+ ]0 SMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December." w/ j! N, P# d0 ?
0 L5 e# i& e1 p% ESales 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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2 F2 \0 _& P2 I' {; k“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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* z, @* m3 E& N. ^2 Y% FHe 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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