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http://www.edmontonjournal.com/H ... /1248520/story.html ^$ |- w# t8 X! p
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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.% Z; X" F6 ^6 ^8 e- \" w
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.6 f- [$ l9 ^9 h5 R: z
" }5 f, o2 p4 P2 A& \3 f9 I+ V- Total MLS sales plunged 40.9 per cent.
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" o7 l1 n; O/ { N- Value of total sales for the month was $265 million — down 42.4 per cent." g" i6 X1 U& l; K2 e
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- The single-family home average selling price fell 7.1 per cent to $352,689.. g: @$ [7 A5 ^
7 l% _$ a6 T5 }6 Y3 d- The average condo selling price dropped 7.5 per cent to $238,535.: t9 E: w4 o- ~- x5 F1 }" i
2 d" P$ C! D+ y5 G- In the single-family market, there were 502 houses sold, down from 767 in January 2008.+ v5 M! E6 M8 ]9 t
& u5 @4 `# R" F/ P% v- 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.
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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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* v8 S, Z/ L: A' A9 l' Z3 pMultiple 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.
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2 r5 i# L4 s' p, [9 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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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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