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http://www.edmontonjournal.com/H ... /1248520/story.html9 [8 ?0 T2 D2 U W( S& g/ R1 z
/ R- K. H, L$ b2 R4 D, vEDMONTON — 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.
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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$ H4 V V' i3 L4 i" a9 J- 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 $238,535.
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1 a5 c$ E0 P0 c- In the single-family market, there were 502 houses sold, down from 767 in January 2008.1 c6 g0 v4 w# Y1 q# X1 K% H
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- For condos, only 189 sold in January compared to 363 a year ago.5 T' y5 |! @) ]. H
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious., D9 E. R% ~1 f, ^/ N2 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.. k5 j/ ?% n; c' c
6 F4 y+ r! c; r- F8 D+ WMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.1 R) j1 i% L- X' Z- J
: T$ L2 O" a& o3 A% E( I5 lSales 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 $299,222.
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4 V, j$ d! ^. z“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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0 S# [. Z% |& m" nHe 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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