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http://www.edmontonjournal.com/H ... /1248520/story.html
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& y" _+ R9 T1 }2 {3 ^ ZEDMONTON — 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 2008.0 {3 h8 |: T6 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.. _* m: q) i D6 l# O0 i/ z2 R
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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' J8 z' x5 D* u5 L- 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.
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! D; q% }; }5 A& Q+ w- For condos, only 189 sold in January compared to 363 a year ago.
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; @ ~# q. h( ^- WFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.& u% f" d! q+ q* |+ B+ y) r
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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.
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+ T+ \4 K5 H6 A! I, 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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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.
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/ q6 u/ ~: k0 Z4 `“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.”0 V5 p" y U& ?( a
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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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