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http://www.edmontonjournal.com/H ... /1248520/story.html
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9 I( C4 z* g9 ^: Z' 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. Z0 b/ c9 K; X+ C0 h
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- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.2 ?. j$ W5 X6 G! q8 O4 Q1 R
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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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9 K U3 K6 {/ W6 X: k7 j1 @- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.6 Q2 q: M- n p/ c1 `# j
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.1 `3 Q- e- Y0 Q, U
9 [4 ?9 @/ [! Y/ a* |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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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.* _9 J% z) ?0 N- y7 [
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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.”- N7 E5 G1 E( i7 J' P) n
1 U0 Q1 S! z0 _; b/ Q bHe 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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