Friday, June 19, 2009

Downtown and Oliver 14 Days Market Update

The Downtown and Oliver condos, under 500k, sold higher per sq.foot by 2.8% in the first two weeks of June. 354 condos have sold in total, 317 under 500K and 37 above that price.
The average list price was 286,437 / 295 per sq.foot and sold price 275, 514 / 283 per sq.foot compared to May's 14 days of 264,574 / 275 per sq.foot. The average days-on-market was 53 ( 60 in May ) and sold-to-list price stood at 96% ( 95% in May ).
Properties that show well and are priced properly are selling quickly, within a day or two of coming onto the market, with Grandin Area definitely being in a high demand. Buyers are having a hard time adjusting to the dynamic market when writing offers close to list price and even above in some cases, considering the economical events of past market. The demand is definitely out there , yet it seems like the quality properties are scares and are not coming onto the market fast enough.

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