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http://www.edmontonjournal.com/H ... /1248520/story.html9 l7 a# t( L0 k+ r! W. p. d. P% h
3 Y0 s- y0 j1 i7 Q1 j- W+ q- sEDMONTON — 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 2008.7 h& L5 |! m+ V. W' Y
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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.
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* U8 t/ b3 o7 H0 _- Value of total sales for the month was $265 million — down 42.4 per cent.4 d6 e n+ y5 [( o3 I" o! p
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- The single-family home average selling price fell 7.1 per cent to $352,689.; |' N: J, L: }' p8 D" r9 i' A2 E
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- The average condo selling price dropped 7.5 per cent to $238,535.
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' g+ w8 M# n% z, o/ H7 [- In the single-family market, there were 502 houses sold, down from 767 in January 2008./ l) h: u6 T4 M& `
3 Y* X- r" P* p. y3 N2 K" p- For condos, only 189 sold in January compared to 363 a year ago.
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" e- P- N0 A) j4 ]. iFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.1 p$ b/ ^ ?0 v7 p. h! P! m
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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.; J6 @, P) V) t( V4 E8 H# }
! t7 D Y Q9 j' e$ p: AMultiple 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 $299,222.
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”
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W6 N$ j V, P) i" v4 ^: S3 sHe 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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