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http://www.edmontonjournal.com/H ... /1248520/story.html
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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.) U$ ^2 S( S/ V/ s
4 q# d$ ]* a1 J! F4 LEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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" L* h/ ~3 `7 E0 P$ A0 j# K- Total MLS sales plunged 40.9 per cent.3 }. a; E; [: Q( p, N! K
7 [* c! j" G. M: W' q0 ]- Value of total sales for the month was $265 million — down 42.4 per cent." S) ^* [& B7 q. }
; a9 I B. L* E6 a# i% x- The single-family home average selling price fell 7.1 per cent to $352,689.6 Y3 N; o; W8 v+ |6 G1 ?- w8 w
. t. u" o4 p7 K9 B7 \% ~$ T- The average condo selling price dropped 7.5 per cent to $238,535.' O8 b5 [2 ?0 U! F
$ w/ l+ |4 A! ]8 @7 k. G3 z* [+ N- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.7 I6 N, Z6 j9 v0 k. m6 A
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For 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.5 N( G6 o+ Q; i5 `( S) l; R/ \
$ q; l0 w, \5 I/ _$ ^Multiple 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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7 x) k& b, b( @3 T# vSales 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.- S0 w8 C. _7 |: y4 n; c/ \
8 j, w# s: K+ J. D' F% N“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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