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http://www.edmontonjournal.com/H ... /1248520/story.html
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1 |4 F% Q9 g9 I9 _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.* y) D+ T: z# c6 h }2 ~! s
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.5 q1 a& O7 n( w7 ~- l7 G% r
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- Total MLS sales plunged 40.9 per cent.
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+ l: w- Q" e/ I- Value of total sales for the month was $265 million — down 42.4 per cent.2 ` p0 u# ~' C+ _6 n
+ F, ^6 _( B ?, V! H5 Y7 b, |- The single-family home average selling price fell 7.1 per cent to $352,689.
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0 J q6 N. m1 A4 Q0 M- A- The average condo selling price dropped 7.5 per cent to $238,535.
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: h( a$ {2 E& i5 `9 n+ w2 |* G5 N- In the single-family market, there were 502 houses sold, down from 767 in January 2008.& k3 R: M: W5 J
" r- o( x0 B/ A, J) y! M- For condos, only 189 sold in January compared to 363 a year ago.8 l/ P! R8 t" R8 y# s
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For 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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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.9 D* k. ~) h" J
$ e' c# I/ D( lSales 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 $299,222.3 F# A2 _' P7 Q4 K$ E1 Z0 @
1 {- |6 c! g( t8 Q/ P9 J“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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