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http://www.edmontonjournal.com/H ... /1248520/story.html
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8 W- T, W/ ]" O, R: u4 EEDMONTON — 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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. {3 n' o. f7 Z& }Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.* ^; {' O4 q7 X: {$ A5 S" x
+ J: p2 I i. P/ d- Total MLS sales plunged 40.9 per cent.
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$ C- F0 z( s$ c- Value of total sales for the month was $265 million — down 42.4 per cent.# ?+ @. O) X- e, H a0 D7 }
8 v: W; ]# f3 x* R- O2 M) r+ o6 Q# o- The single-family home average selling price fell 7.1 per cent to $352,689.
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008./ V6 i) S6 X! l/ M& a
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- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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, T: x9 W& ]% Q, M! R8 R$ gHe 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.+ o, l+ O9 d8 W% i7 G+ X5 ]
k, S B+ h1 [% p0 Z, ^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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+ p9 V& y. w& R8 b; S4 X“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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