Wednesday, November 2, 2011

Downtown & Oliver Real Estate Market Update

Downtown & Oliver condo prices stay unchanged, while inventory and number of sales are down slightly in October!

38 condos have sold through the MLS® System in Oliver and Downtown in October of 2011, 12 percent less than last month and 10% less than in October of 2010. The selling price ranged from $112,000, 364 sq.ft. studio in the Hargate, to $785,000 two bedroom 1,902 sq.ft. condo in the Illuminada on Jasper ave.

The average selling price was up by 0.3% from last month and 4.2% lower compared to October of 2010, whereas the price per square foot was down by $7.00 to $277 per sq.ft.. The inventory has decreased from 254 to 243 condos available. The average selling price was $268,447 and $277 per square foot and average list price $278,599 and 288 per sq ft. Current days-on-market have increased to 75 from 50 days while sold-to-list price ratio has not changed at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 6.4 months.

Courtesy of Derek Hulewicz, REALTOR®,
Data provided by REALTORS® Association of Edmonton


Anonymous said...

Derek, do you think the price of Downtown condos will go down in the next few month?

Anonymous said...

Great information, very helpful!