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http://www.edmontonjournal.com/H ... /1248520/story.html
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8 v+ a* f. l: W( L6 s9 tEDMONTON — 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 2008.2 o/ j8 A5 H6 l" ], D5 x! W) ?* Y8 }: }3 ^
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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.* D2 c; s" a9 t" `. Q& k
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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- The single-family home average selling price fell 7.1 per cent to $352,689.9 |9 p+ I. ]" r! p
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- The average condo selling price dropped 7.5 per cent to $238,535.
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4 i; C. O! y/ m5 Q. P- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.
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; i/ N" v4 q2 ~4 r6 C iFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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) \/ e1 [& p/ r& l" _He looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.6 s L' a$ V; {5 K. Y
. l3 d, h% E8 F; lSales 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.* J+ Y% w5 V M% c7 ~5 T, F
8 V( v2 m3 K+ }/ Y2 @“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.”9 T% Q% Z# R4 ~; K4 j6 s2 G& Y
- V6 K! {; n& C7 a6 \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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