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http://www.edmontonjournal.com/H ... /1248520/story.html
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2 o! H* P: @( S5 S7 W$ iEDMONTON — 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.1 f& a' f. L' i4 V
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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.# R/ M5 n0 }/ M4 m* \
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- The single-family home average selling price fell 7.1 per cent to $352,689.% r- K+ {6 Y1 M7 J O# f
- r' n" p8 ~: D9 s* }6 d& U- 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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8 a& G8 N# l/ _- a! h, ~- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.; d+ y5 W& l- q2 ~
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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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, w; D( |; n8 K) t+ g x+ C2 l( gMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.9 }# S3 z( v" C, z
( ?- a/ x( [8 b& M! B! 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 $299,222.: v( }0 u( \7 `$ ?
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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.”: L% h7 J6 G3 a+ @
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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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