Wednesday, October 2, 2013

Downtown Edmonton Real Estate Market Update

Downtown & Oliver condo prices and average days on the market are up in September of 2013, while number of sales and inventory are down!

52 condos have sold on the MLS® in Oliver and Downtown area in September of 2013, 26 less than last month and 5 more than in September of 2012. The selling price ranged from $131,000, 502 sq.ft. condo in the Residence high rise, to $709,900, one bedroom, 1,604 sq.ft two storey loft in the Seventh Street Lofts.

The average selling price was up by 3.5% from last month and 12% up from September of 2012. The price per square foot was actually down by $6 to $291. The inventory has decreased from 253 to 243 condos available. The average selling price was $287,454 and average list price $289,007 and $302 per sq ft. Current days-on-market are up to 59 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 4.6 months, an increase from last month of 3.2.

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