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http://www.edmontonjournal.com/H ... /1248520/story.html: r/ n9 l( b3 A }' F" U
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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.
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- i8 {) ~2 }- e2 Q8 e8 v8 zEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.1 N7 F% ?) L8 o$ c$ G
& H9 ?8 t3 O2 }! ?! S# n% X- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent." Q* A$ Z+ Q2 `: N! m
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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- The average condo selling price dropped 7.5 per cent to $238,535.
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2 X N0 H/ F8 p- In the single-family market, there were 502 houses sold, down from 767 in January 2008.6 H& l" s' A0 ^' ^+ h
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- For condos, only 189 sold in January compared to 363 a year ago.' W! }/ m4 d$ s3 o: c% S
9 \8 {$ Y# F- o- ?- m" PFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.& l e2 v+ K( z" b) { z! d
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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.! u' Q5 o' R: W9 u- w
7 w4 ~* ?& X( S! UMultiple 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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7 y- I2 g& ]1 k/ i) a0 H% qSales 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 $299,222.
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: a- m/ c( {$ m9 A2 r; q“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.”8 G& a5 L% G3 b' s% {% p; s
6 t& y$ H1 M/ b4 y" G6 yHe 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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