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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., s2 |9 T( E- Q& T" y/ q: {+ K
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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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- Total MLS sales plunged 40.9 per cent.& U' {8 W2 T! p/ V* c+ s
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- Value of total sales for the month was $265 million — down 42.4 per cent.. K4 E: t: \2 p4 w
5 R2 i2 B, W0 J& L) ^- 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 $238,535.1 ]0 K. T" W' P( B4 X( k
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.. o% @2 U) M* ?# F0 `
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- For condos, only 189 sold in January compared to 363 a year ago.
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- z& Y) ?1 A C1 E* T7 vFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.: b6 o+ D8 O% c" d8 F
, e: l" X# ]( }1 p/ GHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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7 s9 d# a2 u- m" V5 |* V0 b9 eMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.8 z9 R& Q) P0 C1 k7 t+ [$ m
$ F+ C7 D- a: J& dSales 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 $299,222.. u1 s. @: N6 z
6 c* S4 B$ ]. c( d“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.”) z; ]) r' j% z7 p
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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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