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http://www.edmontonjournal.com/H ... /1248520/story.html
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; H$ B5 a" x" U# f+ ]0 KEDMONTON — 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.( @1 _' R. H8 _1 a; t2 |" g ~
* ?) i N$ S# }. Q& A! ?% Z) kEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.! Z( X3 r+ u7 L
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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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- 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 $238,535.2 D* k# s- u4 a7 o' }! c
1 j! y, M$ u1 M" z3 ]5 L- In the single-family market, there were 502 houses sold, down from 767 in January 2008." F# p% @+ ^! O
: \' Y. K5 a& O* `: f3 V- For condos, only 189 sold in January compared to 363 a year ago.9 @ o1 m( R4 t7 ^6 u
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.& l- B3 l6 l; a2 I2 L* h& M
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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.1 w4 z& s; g2 L/ B) B" v! F+ h, h8 c
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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.5 c& X i a1 G) o" q' k' S7 Z
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Sales 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., s9 q- N& ]) ]: v7 z+ N* Q0 M a
) c0 L1 I, X! b“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.”% ?9 t- ^' L0 t( y
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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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