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http://www.edmontonjournal.com/H ... /1248520/story.html) l9 X6 O$ T8 ^7 `0 A+ f
! e. N+ h' w& I; ]) V! ?0 j7 \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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.( v1 u5 c# D5 ~
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- Total MLS sales plunged 40.9 per cent.
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$ M8 \; K2 S# r/ Q8 C2 Y+ ?- 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.& R' n4 W) B" u; {0 n) H+ W
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- The average condo selling price dropped 7.5 per cent to $238,535./ q: |/ a; l6 K0 U3 u8 x# d
5 |5 g6 Y, ?& t" H) c! F- In the single-family market, there were 502 houses sold, down from 767 in January 2008.4 E }0 M' o2 ?7 @3 s- E+ k
! N6 {% |1 N/ W6 s- For condos, only 189 sold in January compared to 363 a year ago.
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$ |7 u; s! A; Q5 K$ TFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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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.+ @6 t/ i4 x& L) ]( @ N' C0 W- D5 n- l
& S6 y" M1 i+ C/ P& v! r' D2 V' tMultiple 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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" J! U4 j: N# ~; Y) M0 z( ?$ B8 uSales 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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“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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6 {- @" v: v: z4 x! R6 M9 z% pHe 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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