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http://www.edmontonjournal.com/H ... /1248520/story.html
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- h& F- \' `2 ^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 2008.3 ?: V S4 ^& V6 r
' ?+ D1 Z& U" wEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.- |$ i! i1 B7 T1 \
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- Total MLS sales plunged 40.9 per cent.3 J. _, B, }* C% D! U0 M5 A- n5 K
! }) v) d* [% ~/ x+ z' Y- Value of total sales for the month was $265 million — down 42.4 per cent.
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5 S- i$ ~( T6 X5 ^0 e+ j- 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 $238,535.7 ~( Z% f* z, @3 J! ~# A; }$ s
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.; @$ P% L1 x1 O' x, ~/ T, g
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- For condos, only 189 sold in January compared to 363 a year ago.0 x. Z# l3 l+ m3 Z
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For 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.* H" I& w# O+ N0 w, C
0 b, L, x* n( p4 V2 ?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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& @& c. x# z( {* sSales 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.”
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8 X; x( r4 c6 z W0 @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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