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http://www.edmontonjournal.com/H ... /1248520/story.html) t1 Y8 c; C& S. T: Q' _
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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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/ E: I/ ?. c* {# p/ e+ Q" q" YEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.* u( _5 M3 A& Y {( y* I- `
9 e5 w! t# n0 l) R- Total MLS sales plunged 40.9 per cent.' [2 V1 _6 z4 I) T
9 y) I1 \( i* B) n% d( c# _- Value of total sales for the month was $265 million — down 42.4 per cent.: q. I0 M* b" ~" ?1 B8 |9 r
% K' H' M+ ]/ j/ t$ ]- 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 $238,535.% `: v3 f. N- l& ?
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.7 x' ~0 v2 D/ p( o3 t
; U, K- o! G$ }- For condos, only 189 sold in January compared to 363 a year ago." H/ t4 t' j5 T$ M; a8 l% {
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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\5 D- b" Z/ Y: s* F+ WHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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9 e0 V2 ~5 ~, ^( J+ Y( b" zMultiple 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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# T0 U+ l6 t: w9 r1 f m" t$ B" ?# xSales 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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8 n6 T5 n3 k1 Z6 f“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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