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http://www.edmontonjournal.com/H ... /1248520/story.html
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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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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* c) d9 F( r& U4 ]$ p5 \- 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.1 R" j4 V3 _0 |9 U3 i
6 [0 R* v+ v! l3 S. r- The single-family home average selling price fell 7.1 per cent to $352,689.; Z# q/ d b' L$ C5 ~+ g; w
% j! Y+ g4 j2 i# M8 Q- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.. e( w& q* g) X+ ]
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- For condos, only 189 sold in January compared to 363 a year ago.
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5 h( n% E: V" m. uFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.7 l" t3 `7 i3 U9 K) q5 Q$ L
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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.
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* i( Q. H4 k/ w6 r# L4 j7 W+ rSales 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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" a5 E' ^4 l- m: d: 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.”& h9 {7 B1 f( |8 R* Q% y. |) t
. ^% \0 a' b* k9 b5 b3 U8 b& JHe 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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