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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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$ d9 }* _: L; B% AEvery 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.& I2 q: U2 l& Y; P! Q; L- G# S
/ Z3 F) z/ h1 w9 J6 s* R/ D1 S% Y- Value of total sales for the month was $265 million — down 42.4 per cent.
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# `5 b: d$ I+ v% k6 }- The single-family home average selling price fell 7.1 per cent to $352,689.
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1 P3 K7 A8 `# q) k2 W; ^- The average condo selling price dropped 7.5 per cent to $238,535.3 U1 e. z3 \1 I) Y2 J- }& h8 ?1 v
1 Z! c& E* k @2 L0 v. \3 }& V- 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.6 J1 |- \3 \/ W1 M% [ k) g9 G
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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- ?7 t& x9 {& t# f: UHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.) Z; x4 x9 y n: w( b3 m
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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 $299,222.
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! M1 z# |* O" J1 ]2 j% d“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”' \: y% p; l# q$ p9 p
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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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