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http://www.edmontonjournal.com/H ... /1248520/story.html1 k. g8 x M- k) J% n! z# Q
6 U$ J% `" F0 ~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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1 n: ?0 A/ h, B& Z, L: d$ ~% wEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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3 @ n' d: N/ S6 ~0 Z% n- Total MLS sales plunged 40.9 per cent.7 D. R: g+ R) d
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- Value of total sales for the month was $265 million — down 42.4 per cent., X$ H9 z4 s2 G8 e$ O
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- The single-family home average selling price fell 7.1 per cent to $352,689.2 B5 U8 ]) Q9 f2 S# b$ a& I
, D# J+ w8 j; n# [- The average condo selling price dropped 7.5 per cent to $238,535.1 f. I' f- _) N
' H& i& C6 V+ d4 c8 a0 R* w- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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/ A/ s, x% G# Y% I; t+ m+ R* W/ x- 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.; t# J9 O; Z" q* C: ~
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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.0 H/ f1 k( V8 V3 F( u; Q
2 C5 `, C# f0 V( ?1 c' t( {8 hSales 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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5 i& G3 @5 t! u# M4 L“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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