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http://www.edmontonjournal.com/H ... /1248520/story.html1 o9 l# F1 W3 \4 k# e
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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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, Q v& P P x9 }2 z- oEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.* @$ S/ c( V" B
1 z M, e( o! D7 S8 h- Total MLS sales plunged 40.9 per cent.6 k& Q4 L9 }$ j. k/ k
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- Value of total sales for the month was $265 million — down 42.4 per cent.7 l8 ~* u: j8 [3 {+ m
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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 $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.& u& Y: y$ n/ k
/ G/ y4 A2 F. Y# r- For condos, only 189 sold in January compared to 363 a year ago.5 n% {- v0 h2 C2 V8 t
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.- Y2 r# B# _4 j4 c6 ?
5 m" r& b' }7 j1 N, g( |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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^1 @4 h4 X: `7 U5 g3 J7 aMultiple 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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4 F5 A4 G5 u% E! Y. H- KSales 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 $299,222.5 V2 s4 P* V% _% e6 V4 F" \' h5 `. F
# @' Z1 ~# b6 n5 A“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.”+ J# a; o+ o8 d* P; ^! V, D! S, J% ]
. {6 z2 b) m4 ]9 zHe 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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