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http://www.edmontonjournal.com/H ... /1248520/story.html$ o) k) O( B, R/ x. Q
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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.% e; Z6 @6 v% @' J, t& B* H
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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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- Value of total sales for the month was $265 million — down 42.4 per cent.
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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 $238,535.
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; R3 ?& A' |: L7 S7 u' N- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.4 B+ e3 V8 e4 k j* I! }' z) o
* j5 ]. ?' E) d# z9 b! [9 jFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.8 V/ k( U! o0 q0 @. \
: o" T! z- i$ z/ l3 D# a' k+ UHe looked on the bright side, the month-by-month comparison — January figures were modestly better than December’s gloomy statistics.4 h- u( k$ D& \, K5 s3 _
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Multiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December." J* ^* W' a4 B2 r
0 a x, L' G( Y3 N& N9 O2 b" _' T/ F* NSales 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 $299,222.
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0 n$ y% F# m5 K* |5 Y$ o* T“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.”" v) o) M6 N' N& ^- T1 I" ]
# u- ^2 x( H6 Q" L( YHe 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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