Monday, November 16, 2009

Downtown & Oliver Real Estate Market Update

Wow. It’s already middle of November and still no snow on the ground. I hope the weather will stay like this till Christmas, that would be a nice bonus. Speaking about bonuses, good news for the sellers. The inventory for Downtown and Oliver condos has decreased again in the last 15 days. Let’s look at some numbers.

There are currently 232 condos for sale on MLS® in Oliver and Downtown, that is 1.7 percent lower than at the beginning of November. The price ranges from 118,000 to 2,888,000 with 192 properties under 500K mark. In the last 15 days, 22 condominiums have sold for an average price of 245,042 / 272 per square foot with a list price of 264,449 / 290 per square foot. Average sold-to-list ratio stands at 95% and days-on-market 48.

As Christmas and New Years approaches, we shall see a further slowdown in sales and inventory staying at the current level. As we have seen continues decrease in inventory since March and prices rising to new levels, all indicators point to stability in Edmonton real estate market.

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