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http://www.edmontonjournal.com/H ... /1248520/story.html
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9 H% J* [( {' d4 vEDMONTON — 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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+ W3 Z& e. k4 I. S" ^6 vEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday." f5 w- h/ e5 _
|( v$ N" {2 ]5 T/ q ?: N! M- Total MLS sales plunged 40.9 per cent.
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3 s0 Y3 `5 ]. \* q% z! `- Value of total sales for the month was $265 million — down 42.4 per cent.8 P& G/ r) O% V0 ^& u
! v0 T }: j4 K0 |- The single-family home average selling price fell 7.1 per cent to $352,689.
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1 ]" O1 |6 g. Y& d, e+ ^- The average condo selling price dropped 7.5 per cent to $238,535.
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3 N; i5 f6 ^& m. K" t+ g! Z- 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.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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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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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.7 q" ~! S0 ^8 P
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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 $299,222.7 X0 N& Q+ p+ r
0 l0 O2 Z& y0 H# w( V* i: v0 w“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”) E. y' D6 z6 B7 h7 q2 u2 S
, |2 o A3 ~/ b: N. J$ `0 h( OHe 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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