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http://www.edmontonjournal.com/H ... /1248520/story.html
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2 R/ ?+ o9 I9 S+ z [8 Z) b4 s+ {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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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.9 v& [% }- h6 Y7 p C' z
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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/ E8 y2 l9 i' {5 |- The single-family home average selling price fell 7.1 per cent to $352,689.
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( v/ n' q! I2 @3 k& r# Y5 h- The average condo selling price dropped 7.5 per cent to $238,535.; p T' r8 }* G. W5 t
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.( c& N& p# H/ Z2 Z1 a' f0 k
2 S0 ^1 N: Y7 N7 a4 i$ o- For condos, only 189 sold in January compared to 363 a year ago.* E# M+ L1 }9 x& \5 w
: y1 L- N3 z! W# v% u! |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., U, k) p' k2 J' @* t0 T0 y
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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.9 j5 ?+ w0 g+ }# u' E1 f
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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 $299,222.
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# l2 i* {: ]2 a! n4 k$ s 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.”. ]+ W: ^( a$ I8 |5 T5 N# @
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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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