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http://www.edmontonjournal.com/H ... /1248520/story.html- R" x1 V: K9 _. a [) ]
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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.; Q' Z! ?$ _" f x& n, ^/ t! V
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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday. a5 {* e2 [4 ^: M0 k9 a* a
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- Total MLS sales plunged 40.9 per cent.
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0 U* c) Q" [2 A) ]- Value of total sales for the month was $265 million — down 42.4 per cent.) y. t& [2 S' T3 J" s2 w$ b- c% h
: x: E3 c3 M, h. [1 `' e2 V2 D- 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 $238,535.. X& w2 m$ g1 n, J! m7 ]
) R$ w. T; ]6 ^7 a+ [- 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.' }0 t9 I2 q' J6 o6 ^3 q- l$ a* U2 @
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.8 l/ |5 g; m9 C8 b5 q- z
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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.5 H0 q9 Z- X, E' g
; k$ m" U+ h( J% cMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December. H% ?' `1 s5 @' W
) j; W) t0 o, NSales 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 $299,222.7 l; F) O: s! g9 M
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“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.”! Y" B' I- S# }0 J# a" O! \- b3 H0 B
* g, M5 n2 e* QHe 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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