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http://www.edmontonjournal.com/H ... /1248520/story.html! J {( {- h# W% u
# ^" D6 w9 Q# |. Y5 v" {7 Z' XEDMONTON — 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.$ @( h5 y% b, c, s
! ?$ Q9 k* S8 V9 t& lEvery indicator fared worse than it did in January of last year, showed Multiple Listing Service figures released Tuesday. j! k; x8 @7 x$ N0 b5 f! r3 U
; r a1 ^0 O, I- ]1 I! o- p- Total MLS sales plunged 40.9 per cent.0 u- `( w& n; J. j* x
$ q6 ^9 X: C1 P& U/ [) e" @: h3 R- Value of total sales for the month was $265 million — down 42.4 per cent.& p/ N. b1 d# a* V- d' V
- j Q3 M1 h- I! R- _6 [6 c5 V- The single-family home average selling price fell 7.1 per cent to $352,689.6 }* h" e! @ H+ ?) 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.( J% P' [4 \6 ?9 A2 k6 Y& M% I
7 f2 x% Y8 C+ c5 v+ p- For condos, only 189 sold in January compared to 363 a year ago.
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* L: y a6 w" wFor all that, Charlie Ponde, president of the Realtors Association of Edmonton, sounded optimistic, if cautious./ M: n% {7 b, s2 T+ ]5 {3 E
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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.' l/ O' p! K0 O8 T
) Y5 P- o8 W4 R( HMultiple Listing Service figures released Tuesday showed 730 residential properties sold in the Edmonton region in January, up from 608 in December.( Y+ z& I& b( u7 X4 I8 ]! G/ z& s7 ^
. W8 _3 c, U3 f7 J# `8 zSales 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 $299,222." L% }& L+ S8 I& T3 N- R" i: W9 F8 \
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“Nobody rings a bell when prices hit the bottom,” he said. “The bottom is evident only after several months of rising prices. One month does not make a trend but the market is certainly welcoming to home buyers.”3 J6 w$ l% R5 \
5 v7 e# z! X# S- J, P: LHe 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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