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http://www.edmontonjournal.com/H ... /1248520/story.html
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% m' k# v! z7 g$ G3 g; cEDMONTON — 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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Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.& Q% Q: a3 s. ? n" F2 [
- Q) h! s( s# A4 b- Total MLS sales plunged 40.9 per cent.
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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# T! ?6 W/ X. N/ N/ [- O6 k- The single-family home average selling price fell 7.1 per cent to $352,689.* Y2 X5 y# v5 [/ T5 |+ G _/ x
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- The average condo selling price dropped 7.5 per cent to $238,535.
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3 T+ G4 f) C- A+ [7 O- In the single-family market, there were 502 houses sold, down from 767 in January 2008.! Q/ n7 [% N0 b7 g
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- For condos, only 189 sold in January compared to 363 a year ago.
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.' C) t# Q7 y3 O+ v0 w7 u
+ A6 }/ \5 ^2 Z$ iHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.
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; ~( s) ^4 B9 s. `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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& O- [& \# O8 j# f2 e5 s+ @& bSales 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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2 m7 A& u% U) R5 E9 p, T8 GHe 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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