Monday, November 4, 2013

Downtown Edmonton Real Estate Market Update

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

46 condos have sold on the MLS® in Oliver and Downtown area in October of 2013, 6 less than last month and 2 more than in October of 2012. The selling price ranged from $155,000, 409 sq.ft. condo in the Cambridge Lofts high rise, to $430,000, two bedroom, 1,066 sq.ft condo in Grandin Manor.

The average selling price was up by 0.5% from last month and 8.2% up from October of 2012. The price per square foot was up by $21 to $315. The inventory has decreased from 243 to 220 condos available. The average selling price was $288,943 and average list price $296,481 and $324 per sq ft. Current days-on-market are down to 58 days while sold-to-list price ratio is up by 1% at 97%.

The current absorption rate for Downtown and Oliver condos as of today stands at 4.8 months, an increase from last month of 4.7.


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