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http://www.edmontonjournal.com/H ... /1248520/story.html8 D; P9 \7 @. C$ N$ i
& k8 u: h# i3 j6 l2 vEDMONTON — 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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; {& D+ K( c1 _9 u1 t" pEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday.* Y: L' e8 z0 h8 P8 t
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- Total MLS sales plunged 40.9 per cent.; u) `/ L) d, G, `% o3 N7 S
: A* [% F' s+ P3 k- 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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) ^, M- L+ ~5 ?( y, {- The average condo selling price dropped 7.5 per cent to $238,535.
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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- For condos, only 189 sold in January compared to 363 a year ago.9 X$ d1 m9 s* l: v" [' F( [, P; y
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For all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious., x: [7 x+ A: C. r6 G7 b
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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.* Y6 P% U3 k, [0 y- 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.( J1 A* A7 d; _; ?/ v) v& l
2 R) o: o1 B7 f- D0 ~4 Y2 BSales 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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, N. b1 p4 W" R4 A' c' [' O) V' B“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.”; B; j& ]3 u! ?- A& X
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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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