Wednesday, December 4, 2013

Downtown Edmonton Real Estate Market Update

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

32 condos have sold on the MLS® in Oliver and Downtown area in November of 2013, 14 less than last month and 6 less than in November of 2012. The selling price ranged from $105,000, 520 sq.ft. condo in Harwood Plaza, to $925,000, two bedroom, 2,130 sq.ft condo in the Arcadia high rise.

The average selling price was up by 4.9% from last month and 8.2% up from November of 2012. The price per square foot was down by $19 to $296. The inventory has decreased from 220 to 197 condos available. The average selling price was $303,716 and average list price $316,100 and $307 per sq ft. Current days-on-market are up to 79 days while sold-to-list price ratio is down by 1% at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 6.1 months, an increase from last month of 4.7.