Sunday, March 3, 2013

Downtown & Oliver Real Estate Market Update

Downtown & Oliver condo prices, inventory, and number of sales are up in February of 2013, while days-on-market are unchanged.

43 condos have sold on the MLS® in Oliver and Downtown in January of 2013, 16 more than last month and 1 more than in February of 2012. The selling price ranged from $125,000, 535 sq.ft. one bedroom condo in the Hargate, to $495,000, two bedroom  and a den 1,466 sq.ft condo in the Illuminada high rise on Jasper Ave.

The average selling price was up by 5.4% from last month and 0.8% up from February of 2012. The price per square foot was up by $19 to $299. The inventory has increased from 198 to 217 condos available. The average selling price was $289,057 and average list price $298,476 and $308 per sq ft. Current days-on-market have not changed at 56 days while sold-to-list price ratio has changed to 96% from %95.

The current absorption rate for Downtown and Oliver condos as of today stands at 5 months.

No comments: