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http://www.edmontonjournal.com/H ... /1248520/story.html) X: k. V6 n5 f' h
' a( E& U! G( r- J H: QEDMONTON — 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 [3 i& J" k9 |* D/ J+ G0 n) VEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.; Z+ F, W9 D" n1 B) N3 B) t& H
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- Total MLS sales plunged 40.9 per cent.
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( m3 o( R: B: P, u- Value of total sales for the month was $265 million — down 42.4 per cent.: X5 x& ~3 L; Q0 E" F8 N% {
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- The single-family home average selling price fell 7.1 per cent to $352,689.
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; {$ R7 `: ? D$ a5 M2 e0 u" ~- The average condo selling price dropped 7.5 per cent to $238,535.) n% R8 {2 W) ?
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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( p" b( l. g) B* M( A8 X- For condos, only 189 sold in January compared to 363 a year ago.
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5 Q- y" V- O# f1 b/ fFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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( B9 q% }7 x7 i2 t5 O/ PMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.$ j( }4 G0 T" m9 v6 y0 x
* E, k( G) e. }* \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 $299,222.+ `9 k6 k7 _* ~/ A$ o S7 d
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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.”# ?) G+ R1 i5 m n5 m7 g1 U3 e
2 `/ _/ a5 }: b6 R# @( AHe 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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