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http://www.edmontonjournal.com/H ... /1248520/story.html+ `4 e. Y: C2 Z; ^
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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.; h' p$ c& O6 w/ _% g2 R0 \- F
6 A( N/ A' C/ C- m& C8 A2 F' v" y- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.3 ]/ ^" `7 _, @8 K
0 l$ i% ^, c# Z- 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 $238,535.
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+ R/ h$ q0 Y5 H3 o+ b% u7 a% P- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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" _. G( R- T' ]; o0 V- For condos, only 189 sold in January compared to 363 a year ago.- i* }2 @- E% P8 G& E
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.5 `9 _. w) r) I: |! X
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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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8 _" D9 S. L7 S8 w7 h4 f8 rMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.$ A2 h D1 L6 |2 {6 H) H; l2 M6 r
' @6 O2 h5 i2 k) }, G$ KSales 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.( H( w( K5 q) n0 W
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“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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