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http://www.edmontonjournal.com/H ... /1248520/story.html
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+ ^1 l v- Q R' y7 c1 P* m2 WEDMONTON — 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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3 U9 F8 r- _7 k" u- Y. {# @( z5 {' KEvery 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.& r/ _1 z; Z, ?* c
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- Value of total sales for the month was $265 million — down 42.4 per cent.- W, W6 i9 \5 W# [$ _4 t* _
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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 $238,535.
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$ ^1 q: J# G; K+ f- In the single-family market, there were 502 houses sold, down from 767 in January 2008.0 a8 L7 Z% A- I
5 N* x9 S* m; z- For condos, only 189 sold in January compared to 363 a year ago.
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7 H. m& H, E$ x6 F6 \: jFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.; H5 T. D G L7 o
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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.7 k! f; {' ]/ B; \
/ d4 Q" y! f4 t2 T: _Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.4 U% R" H0 k. v- T# X
4 i' r) E O7 U/ 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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4 m- w; m+ i o [9 {- A) j" S7 I“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.”; l; \2 \! G/ \; s2 k! d+ c2 C" \5 V
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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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