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http://www.edmontonjournal.com/H ... /1248520/story.html
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( L2 e& j0 k5 HEDMONTON — 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 2008.1 {: [& T/ `' h h$ Z
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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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* f& E C# I8 F4 h6 o; q( _- 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.
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- The single-family home average selling price fell 7.1 per cent to $352,689.$ V: T- m4 E+ K5 Z! f
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- The average condo selling price dropped 7.5 per cent to $238,535.
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0 V( F0 i3 Q9 P% N- In the single-family market, there were 502 houses sold, down from 767 in January 2008., V1 t F; H r* x! _
* [5 f: @1 P# g' M8 `9 \4 |- For condos, only 189 sold in January compared to 363 a year ago.
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8 y! u1 m* J' k6 F6 }" v [+ ]For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.; m1 K" s2 l* J5 Z/ M3 T
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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." R& ?( Y9 ~8 x2 X; |
. p, W( J2 ?0 W# {3 cMultiple 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 L# R; D; t' _. w+ U
+ R5 U' r# l8 G5 F( v. ^4 I0 V“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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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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