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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 2008.5 H5 B1 I+ E- V1 R
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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- Total MLS sales plunged 40.9 per cent.) w0 B$ p+ m+ \" t1 z$ `8 C! X
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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 $352,689.
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9 v" P5 i. S3 B$ H5 P- The average condo selling price dropped 7.5 per cent to $238,535.7 o) `$ c. q$ n
& H# S0 ]- @ j- J8 n: i0 {- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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! J( G+ F* i% u1 D$ j3 ~: H- For condos, only 189 sold in January compared to 363 a year ago.
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, u, n& o) f& b- ZFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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' Y I4 R; [( W* k) E8 jHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.- {, ~: v# x4 F, \1 p: t( p9 }
|! ?2 i" }/ G2 B7 y: [Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.$ U$ ~" Q; f% F+ j: Q& u
5 j: e2 u& E8 N7 h1 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 $299,222., p) z, h1 ~( W* ]/ _
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”# ~' n( R3 o+ E. D6 C$ N0 ]8 N
5 N6 h- j# x+ 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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