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http://www.edmontonjournal.com/H ... /1248520/story.html) ^% x- @7 [9 S) z3 U$ b/ Y7 I
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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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- Total MLS sales plunged 40.9 per cent.; e& `" u" [. T- r& u
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- Value of total sales for the month was $265 million — down 42.4 per cent.( f$ G) g3 o" P" [# Q
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- The single-family home average selling price fell 7.1 per cent to $352,689.( o; n- ^7 S" Z. z0 f0 C- @. _( R
) A0 j7 T: Y0 p/ E- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.* H! `, b+ R1 a7 f" c6 e5 x# }
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.2 a% C) V$ Z9 z
, `, |9 B) w0 LHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.6 @! F# g( W0 Y1 k# e2 _- t
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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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6 o7 R; N- m: wSales 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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“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.”- m6 a1 x% I, h
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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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