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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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7 ]1 H7 m2 K- d1 h5 y4 ]& r, T' uEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.) j2 T3 K5 e- S
9 x- \ l; y% w1 i) }- Total MLS sales plunged 40.9 per cent.9 V( O }( N T
& X [! h8 i$ k7 a- Value of total sales for the month was $265 million — down 42.4 per cent.4 H8 M) S4 Q: d/ p+ Z6 d
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- The single-family home average selling price fell 7.1 per cent to $352,689./ g9 S, v @9 G6 ]8 h5 U3 B
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- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.* t, e4 `$ Y; b
2 a; F$ M S3 f- For condos, only 189 sold in January compared to 363 a year ago., I. q5 X! d5 X4 h' a# G
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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.
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3 P/ j2 }4 z- p6 o% iMultiple 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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/ B* B4 ]7 p4 L4 T l9 \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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“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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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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