Downtown & Oliver condo prices and inventory are down in December, while days-on-market and number of sales are up!
38 condos have sold through the MLS® System in Oliver and Downtown in December of 2011, 26 percent more than last month and 19% more than in December of 2010. The selling price ranged from $117,000, 478 sq.ft. studio in Glenora Manor, to $800,000 two bedroom 2,283 sq.ft. condo in the Carlisle high rise.
The average selling price was down by 2.8% from last month and 5.2% up from December of 2010, whereas the price per square foot was down by $20.00 to $273 per sq.ft. The inventory has decreased from 227 to 169 condos available, lowest level in the last 3 years. The average selling price was $273,454 and $273 per square foot and average list price $285,365 and 285 per sq ft. Current days-on-market have increased to 65 from 63 days while sold-to-list price ratio has was same at 95%.
Average selling prices for Downtown & Oliver condos:
2011 - $275,823 2010 - $278,789 2009 - $260,169 2008 – 261,511
The current absorption rate for Downtown and Oliver condos as of today stands at 4.8 months.