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http://www.edmontonjournal.com/H ... /1248520/story.html
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' E* ?- A* Y& e8 \8 ]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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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0 }0 l) R* b2 K- Total MLS sales plunged 40.9 per cent.; D) r: D/ C" L
3 q. o9 P1 x3 w2 \% }" {5 A+ z8 ?- Value of total sales for the month was $265 million — down 42.4 per cent.
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, I; O: u; l1 h% H, U; E- The single-family home average selling price fell 7.1 per cent to $352,689.
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w7 c, c/ v8 m3 q( v0 }0 x- The average condo selling price dropped 7.5 per cent to $238,535.
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- 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.( c6 @7 s( B0 T
6 Y" R0 ~4 r% D! i+ iFor 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.
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: m- ?6 s3 M+ _! Y' ~7 r5 ^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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' m, l# V, K' V. _“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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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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