Tuesday, February 2, 2010

Downtown & Oliver Real Estate Market Update

January of 2010 was fairly steady for Downtown and Oliver condos.  36 condos have sold through the MLS® System, that is 7% less than last month and 23% more than in January of 2009, ranging in price from 112,000 to 605,000 with only one unit selling above 500K mark.  The price per square foot was down 3 percent and 9.7 % higher compared to January of last year.  The average sold price was 299,490 / 291 per sq.foot and list price 309,855 / 301.  The inventory was up from 153 condos to 208, however, the large increased came from condos over 500K mark, and the inventory of condos under 1/2 million mark has decreased slightly from 181 to 178.  Current days on market have increased to 63 from 53 days and sold to list price ratio stands at 96%.

The average list price for current Downtown and Oliver condos stands at 361,289 / 323 per sq.foot, with the Hardgate listed at 119,900 to Downtown's most expensive unit for sale in Arcadia for 1,750,000.  Average size for all listed condos is 1,038 square feet.

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Number of units sold
Average day-on-market
Average sold price per square foot
Data provided by REALTORS® Association of Edmonton

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