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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.
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- Total MLS sales plunged 40.9 per cent.
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O9 N% z# h8 E0 U- Value of total sales for the month was $265 million — down 42.4 per cent.
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, ]3 _$ I6 s1 m1 C: `- The single-family home average selling price fell 7.1 per cent to $352,689.. B0 i6 |- k7 I s
& }1 S- f$ F; r. O3 P& m! U5 J- F. E* k- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.; t- [/ _5 P) G/ {' G$ s
w G2 V( j. Z- For condos, only 189 sold in January compared to 363 a year ago.
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% E2 @# x% v" L& \2 P6 aFor 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.2 w0 ^( C" b( L2 |4 F) |: e/ q* @7 R/ k# C
: R9 A1 W0 M/ m% n. rMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December. _" ]2 m1 G0 b% v& h: V6 ^; k
7 Z% }3 E, Z- T6 @' ^& O3 z# o4 ~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.' ?% j# e4 W/ W4 s
, L ~# m, z4 W k“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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