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http://www.edmontonjournal.com/H ... /1248520/story.html8 X4 Z" \, C! I4 ]
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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.. X6 k! k% E& K0 z1 w
+ x4 S" O5 Z4 X/ @6 k4 qEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent. ^( F+ \; p8 p0 T% g$ a( i: E
1 ?# R7 }2 C' H% J- The single-family home average selling price fell 7.1 per cent to $352,689.3 H: ]" g3 I% V) c! [. N# J
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.3 ^5 ?& _2 R* w' [
$ C$ E R$ l8 a1 ^8 {- For condos, only 189 sold in January compared to 363 a year ago.4 y5 v/ t& [, F9 u: o4 A0 d
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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. }: l- D6 [. x0 J7 Q
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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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2 _3 x1 h; d& B: W! b: T; J* ZSales 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.' ?. q3 G: ~& P. Z- e4 g
9 W3 U( _! `( Z“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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4 C5 }1 h! ]( a w X' E9 cHe 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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