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http://www.edmontonjournal.com/H ... /1248520/story.html5 M" g6 N: C6 C
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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." J$ M! y! F7 Y3 y
3 a7 Q4 c1 m& X9 G' X* Z' _- 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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+ I2 d- m/ _0 o" }% p3 M- 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 $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.' ?8 @+ c$ h, g+ X. q5 M% z
" _7 C2 F$ N+ x3 k, C- For condos, only 189 sold in January compared to 363 a year ago.
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2 B) s$ I! i+ F' h. r7 C! T/ [For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.& q7 @7 z( v; V& i
+ D* w+ u" O' m$ p& Q0 n; e* ^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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( ]2 z2 o2 O- aMultiple 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 $299,222.5 b/ Z5 A8 e* J! ]9 }
+ Q: U5 j& Y0 r3 O; l$ Q( y+ m4 d“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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8 G: ~* g' t( k. 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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