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http://www.edmontonjournal.com/H ... /1248520/story.html
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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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# l& S: M. _% P' n* s% vEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.( z) b7 s- e6 x" ~0 J6 B, }
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- Total MLS sales plunged 40.9 per cent.
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- p4 ?. T& ]% K: ?5 Y- Value of total sales for the month was $265 million — down 42.4 per cent.! p3 `' C" U c6 m# N8 z
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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! d M) G" T- d4 P8 \* X- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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( c. T- `0 U+ e, U- For condos, only 189 sold in January compared to 363 a year ago.; W, u3 @( m8 R( q( |7 r
6 i( }# W+ o6 k8 ~For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.% j: r3 K5 q6 U$ H: G! \) Z W4 q( R
* u, W, \7 Y, _6 j# X EHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.9 Z! a( l0 k' y$ v. c2 `9 L; Y& ?
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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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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.# O0 S+ T9 V4 }! O4 V
* L5 m, G9 D; z( N“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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) _" U5 N/ q* F& kHe 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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