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http://www.edmontonjournal.com/H ... /1248520/story.html
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9 r1 E+ T9 q# t4 N5 q3 v- v9 J$ \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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9 Q* s! Y: n. q" b9 L+ A% TEvery 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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3 _( Y. d' S# W& z& _9 M$ \- Value of total sales for the month was $265 million — down 42.4 per cent.
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3 b# J6 v$ T0 t3 Y. M e9 e u5 t- The single-family home average selling price fell 7.1 per cent to $352,689.: T% e# O1 @" ?
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago. C, ^! q1 G8 D7 h
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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" {4 j4 K1 e& j& W, Q$ dHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.# X& f( D. x& S( }; U+ x$ U
' R8 C9 W8 r/ G ZMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.0 s% H) S# {5 i
/ h$ T5 v/ ?! 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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“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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+ a9 s' w& k* F0 G; M, K9 l0 NHe 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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