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http://www.edmontonjournal.com/H ... /1248520/story.html# `9 p& P% A2 ]8 X, b
b# O; v0 { T6 y: fEDMONTON — 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.3 M7 C% @* S2 d6 j
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- Total MLS sales plunged 40.9 per cent.) O; N) v7 i( h+ S
4 D- @# H& a& D/ X& V# E- Value of total sales for the month was $265 million — down 42.4 per cent.
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# j2 c6 Z! b0 @7 }- The single-family home average selling price fell 7.1 per cent to $352,689.0 [. V5 x7 S' }5 y; v% \
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- The average condo selling price dropped 7.5 per cent to $238,535.
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+ c+ {' u% }1 \! K$ Y$ o% a% [* N- In the single-family market, there were 502 houses sold, down from 767 in January 2008.& U0 L# i. m5 |/ C( d
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- For condos, only 189 sold in January compared to 363 a year ago.* A0 e" X" v1 O( d+ N+ D
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.1 Z. K' _' _+ K' p3 z/ F
8 z1 Y& i J# X$ Z4 p! uHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.4 R, l3 \+ C. z
! i$ R, k- m$ T, nMultiple 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 $299,222.
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! |& Z$ t6 C% `+ a1 H“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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; V }! p! N& s3 T- n% IHe 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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