Edmonton Oliver and Downtown Condos StatisticsThe number of sold condos through MLS® System in Oliver and Downtown is down to 68 from 90 in July. The average sold price of the units under 500K was 267,380 / 277 per sq.foot, lower by 1.4% compared to 277 per sq.foot previous month.
On the positive note for the sellers, the inventory has decreased by 6.8% to 273 condos available, with 227 under 500K and 46 above that price. The more expensive condos have harder time selling with only one unit sold above the 500K mark in August. There was no change in sold-to-list price ratio -96% , 52 was days-on-market and absorption rate was 4.
Note: The good properties sell fast. That was not so at the beginning of the year where the buyers had more choice and could take their time with offers. I personally find that a large number of downtown buyers currently seem to be younger people who are interested in newer condos and have a similar price range and criteria. The downtown core is definitely more attractive to them now more than in the past and the central location and access to transportation are big factors for many.
Below graph shows average sold price per sq.foot history for Downtown Edmonton and Oliver ( condos under 500K mark)
Graph - Number of condos sold
For a closer look at the current Downtown Edmonton and area MLS® listing, check out http://www.edmontonrealestateweb.com/search.html
5 comments:
I hope the downtown market picks up once the Canadian economy gets better
Good blog site. I have had several canadian buyers in the last year purcasing second home in Arizona and I enjoy reading about your market to improve my knowledge of the area
For the water of life's fountain springth from a gloomy bed. Do you think so?
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