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http://www.edmontonjournal.com/H ... /1248520/story.html
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) b- T/ z) ~3 e* R5 _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.. h. ~" O) [: z8 [. L0 {
8 B+ v8 y7 C. Z' x. e. U% LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.4 M& S* a( x" T
. [( }+ k8 u% ?+ g0 u. n- Total MLS sales plunged 40.9 per cent.
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! y! B' x9 U& a6 x- Value of total sales for the month was $265 million — down 42.4 per cent.
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( z! N2 [/ ^8 ?. P k9 b9 i8 U" H- The single-family home average selling price fell 7.1 per cent to $352,689. {, x" u4 ]& \/ x
* x9 F/ O8 s" ^5 u4 g0 N- The average condo selling price dropped 7.5 per cent to $238,535.
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6 p& ]2 E! [' C/ y, O- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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/ p: o9 Q9 m$ B; d2 U$ J# u- For condos, only 189 sold in January compared to 363 a year ago.6 [2 @2 y# g, k* A2 `) d2 ^4 h+ ]: y
& D' n9 {4 E7 M0 ^9 }For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.) C0 {( H; I$ M! k5 y
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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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: D% k# x5 }2 R7 mMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.9 e7 [/ d" G7 x% Z
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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.
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% ?, @! W* d+ N! E“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 W3 q2 f; E5 l9 t. _: k3 s5 [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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