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http://www.edmontonjournal.com/H ... /1248520/story.html
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6 P* y1 z. X* K. |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.# W# Q2 A# a6 H1 G h- t
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Every 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.7 `' E* o! q3 ?8 b! \: D& a
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- Value of total sales for the month was $265 million — down 42.4 per cent.7 F; D% ?, A% w' e8 O- p( x
/ a6 D K3 w4 r# j- The single-family home average selling price fell 7.1 per cent to $352,689.0 T% Q5 ]8 y) [) S
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- The average condo selling price dropped 7.5 per cent to $238,535.- ]3 _4 y) S/ a( ]/ R) o
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.* h" ^7 y! [ n' O0 B" `5 t
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- For condos, only 189 sold in January compared to 363 a year ago.
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$ t; n$ M& ~ L$ S8 _. ZFor 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.) p2 @# z& i; Q( S
; n8 u" j# |9 ^, H# {; C- P# N5 Z4 ySales 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.: H/ u: i* \+ b% [2 W
# x2 E- {1 ]- M3 ^8 O8 z! l: 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.”/ T7 z2 @0 K) B% U
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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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