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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 2008.4 J4 F2 v: R3 }) _
& W3 a. z1 |) d& ^( d+ d( p zEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.2 ], J* t7 N: e, {3 A
: G$ T# ~, T. {7 E7 _ `- Total MLS sales plunged 40.9 per cent.7 E: N% I- k( n9 U$ i+ c
% r, E* a- {* L" u* x( O- Value of total sales for the month was $265 million — down 42.4 per cent.6 ~/ ]8 B: U0 T% J! {5 Q, f' O
; Z X, C( R6 i- The single-family home average selling price fell 7.1 per cent to $352,689.8 \ W6 Q) C( `( ?1 n8 j
m; a' L1 Q4 d' a- The average condo selling price dropped 7.5 per cent to $238,535.
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' J) B( Z3 Z- M+ A- In the single-family market, there were 502 houses sold, down from 767 in January 2008.. z6 X6 U" S/ y
: D N* u1 j, ~# ~' G: {3 ?/ B- For condos, only 189 sold in January compared to 363 a year ago." F* Q: P7 c( i7 u9 a7 ~
( q( b, {( p7 W# L9 vFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.: U; }1 Y, N8 J8 i. i
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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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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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, L4 k0 l3 z, d4 kSales 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 $299,222.
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”& n* G$ P- ]4 N/ {7 ~3 p! n) A
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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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