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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." Z- P# U9 T: O5 j o8 ~
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- Total MLS sales plunged 40.9 per cent.+ r1 o, V# M9 d0 d! t. h' s$ | ]
$ g( c1 ?# u, W. t- Value of total sales for the month was $265 million — down 42.4 per cent.
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' Q( J% y* b! Q1 `3 Q/ M, d; I. l- The single-family home average selling price fell 7.1 per cent to $352,689.
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8 ^% a( H- `# q- The average condo selling price dropped 7.5 per cent to $238,535.
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; L; ~3 X2 w( b- Y) _- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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, t. }( Y1 \8 c! r- For condos, only 189 sold in January compared to 363 a year ago.: t. U& ^( r3 f/ a
0 s* ?+ S! A, LFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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7 o) K2 s6 p( ^& s9 k3 LHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics." {& z9 b9 W# C0 s4 X4 u
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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.
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Sales 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 $299,222.; b+ m; a$ k8 w9 F7 j" ?
7 }* C: a" r& F0 J1 E Z! Q“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.”3 Q1 w4 L* J3 D3 E
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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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