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http://www.edmontonjournal.com/H ... /1248520/story.html. A; ~3 C) ?2 b; `" T
3 e# t1 m1 B3 `4 o% D- GEDMONTON — 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 2008.2 U( x- D' K6 U- Y( E# F/ P- \( N
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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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; c1 ]4 b4 S J8 v. D- 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 $238,535.0 e( S8 {+ E8 e$ W/ c: p4 X
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- In the single-family market, there were 502 houses sold, down from 767 in January 2008.
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4 t' }4 G' B, G% T0 q4 @1 L+ w- For condos, only 189 sold in January compared to 363 a year ago.. x+ v" I( Q% _0 n9 F7 V" `
6 T2 `( ~5 S; mFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious.8 B8 y6 y! U3 h/ f
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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.1 r" d; n7 w# n5 r% G
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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.
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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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( q5 S/ J _" `) 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.”
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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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