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http://www.edmontonjournal.com/H ... /1248520/story.html
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) a# b6 W8 [ A9 c" _( nEDMONTON — 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.# E: K$ d g5 |* B, z
( F; k$ ~1 [* |6 @( \Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday. i( A* j7 X0 t! C8 K
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- Total MLS sales plunged 40.9 per cent.
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9 l/ Y) L# d' _* U( p8 D6 Y- Value of total sales for the month was $265 million — down 42.4 per cent.
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$ s1 O& c1 h5 G) U5 `/ i- The single-family home average selling price fell 7.1 per cent to $352,689.
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# e& L Y% A7 i V6 Y. c- The average condo selling price dropped 7.5 per cent to $238,535.
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" y, A* t ?5 A, ?4 h, J& L O( w u- In the single-family market, there were 502 houses sold, down from 767 in January 2008.2 e5 n" U8 H2 ^, e; A
+ ~2 w2 o, t2 T* h% z, A- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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\: ~" M0 S# b, r2 a4 MHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.. m7 M: o, i6 M' |+ Q
/ k5 w5 A5 _9 S8 b( o) XMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.3 @0 { e3 {0 a3 l7 A' `
$ u/ ~7 Y8 |; mSales 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.”; I5 P+ t5 L6 U! Q; U
4 u% S; a. X% Q4 f& r6 uHe 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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