Saturday, October 17, 2009

Downtown and Oliver Real Estate Market update

We surely got a jump start to winter with couple warm days to follow.  I'll take it.  

Downtown and Oliver Edmonton real estate market seems to be steady in the first two weeks of October.  As of today, there are 255 condos for sale in downtown area and 214 below 500K mark, that is 3 percent lower than in September .  The inventory is getting lower again ( see the below trend) and yet sales are decreasing as the Christmas holidays are getting near. 

Inventory in June 332, July 293, August 273, September 263, 1/2 of October 255

34 condos have sold through MLS® system in Oliver and Downtown Edmonton , 32 under 500K and 2 above that price.  The average sold price was 260,950 / 280 per square foot and list price 270,092 / 290 per sq.foot. Days-on-market ratio is higher at 58 and sold-to-list price is sitting at 96%.  No change in absorption rate which is 4.2.  Even though the per square foot price is lower this month by 3.7 percent so far, I wouldn't get to excited till we see the monthly statistics. 

If you would like to add your thoughts as to the future of Downtown Edmonton real estate market, please don't hesitate to comment.

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