42 condos have sold through the MLS® System in Oliver and Downtown in September of 2010, that is 5% higher than last month and 35% less than in October of 2009. The selling price ranged from $147,900, one bedroom 706 square foot condo in Oliver Gardens, to $690,000, 2 bedroom 1,643 square foot penthouse in Alta Vista high rise.
The average selling price was up 0.3 percent from last month and up by 5.6% compared to October of last year. The average selling price was $280,040 / 281 per square foot and list price 293,749 / 295. The inventory was down from 307 condos to 269, with 244 condos available under 500K. Current days on market have increased to 61 from 60 days and sold to list price ratio is down by one percent to 95%.
All of the economic data I have gathered really shows a 4 year period of price stagnation before we can realistically see a steady appreciation in price across the board. That being said, there will be micro housing economies within every city that do well in the near future. I would expect the same to be true in Edmondton as well.
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