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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.
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.2 F- p4 g6 k! h8 m
c# G/ l- ~! }/ a2 h- 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.
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- The average condo selling price dropped 7.5 per cent to $238,535." \8 H0 q' K! F, c* C
9 [# H3 M1 q1 J0 y$ \1 T9 J- In the single-family market, there were 502 houses sold, down from 767 in January 2008.3 g: i4 s9 q, s+ K8 D* D
0 R8 i1 y7 c0 w- For condos, only 189 sold in January compared to 363 a year ago.
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& [4 ]5 R# M# Y- c ~; VFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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% v- u8 r% |2 c' z! C8 i4 ~; PHe 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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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.
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7 }/ w* t3 y: }, B! p- X! b“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.”8 Y# a8 P9 x0 R! h- j
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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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