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http://www.edmontonjournal.com/H ... /1248520/story.html# Z% {2 U7 R8 C
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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.
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. {& V' E4 ~. N/ }Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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% E0 ^/ D F6 }3 G2 p$ H- ^5 a- Total MLS sales plunged 40.9 per cent.# r7 C% _- p8 {9 O4 [" P
4 `0 H2 i/ e1 a9 \4 O& n/ c- Value of total sales for the month was $265 million — down 42.4 per cent.
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5 K t" q& ]: }1 k- The single-family home average selling price fell 7.1 per cent to $352,689.8 U) q! s$ e% ?/ T G# u6 P
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- The average condo selling price dropped 7.5 per cent to $238,535.
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8 v9 j$ p. H7 F3 {1 {- 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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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.
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/ c! p7 V0 B @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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6 p: B" v) v+ {3 u) Z9 S6 XMultiple 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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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 $299,222.
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”- G8 s- o1 C2 n3 p! D$ M$ 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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