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http://www.edmontonjournal.com/H ... /1248520/story.html
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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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, X2 p. W3 t1 g9 ]5 y1 }$ rEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.
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8 x$ u, S6 O, i- P& r- Total MLS sales plunged 40.9 per cent.
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! r7 K; j: X/ _7 y- Value of total sales for the month was $265 million — down 42.4 per cent.! p7 g1 G/ b0 l; ?. J0 e9 w
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- 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 $238,535.
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$ y6 I3 t m u5 r- i* W- In the single-family market, there were 502 houses sold, down from 767 in January 2008.$ ]. l) G$ g1 Z# k: d
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- For condos, only 189 sold in January compared to 363 a year ago.* {9 O/ i O/ t) S# j# I
d2 Q! i5 u# tFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.+ A: Y* `# m/ r; @) U
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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.6 d! E! D! L( j- w
I, C; U4 ~9 Z! e/ HMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.2 u t1 k+ j( N7 [
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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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' S3 m3 w% r& D3 l) r# u“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.”- ?9 v" z% t+ e) h
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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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