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http://www.edmontonjournal.com/H ... /1248520/story.html
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7 _4 \/ G* B$ E% p5 `9 DEDMONTON — 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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# V, J5 m# ^1 r: d5 c$ `Every indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.9 D% H3 _$ a: Y0 s2 r5 z4 o
5 ?9 m4 N: t# e; x. |- Total MLS sales plunged 40.9 per cent.2 f% M5 J5 U i- R
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- Value of total sales for the month was $265 million — down 42.4 per cent.
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Y% w# S @2 q% m- The single-family home average selling price fell 7.1 per cent to $352,689./ x) F/ W, N3 y( K: r; S' [6 N
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.8 U0 Y5 W/ ?. S6 \9 r
7 H( t! e4 v( e" U. b- For condos, only 189 sold in January compared to 363 a year ago., Z2 v2 q: H4 `7 p
$ X, w& r% I. _! H3 wFor 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.& e. z1 X H; s' d# \
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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.. n' \7 I3 d M6 N w$ }2 b! D9 r
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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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8 c# y' u8 M! L! }5 c: V“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.”6 `4 F4 ~6 d" u6 a0 u! s7 Y8 s
+ r. I3 d s1 t8 k0 ]+ T* q+ ^0 rHe 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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