Saturday, January 4, 2014

Downtown Edmonton Real Estate Market Update

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

33 condos have sold on the MLS® in Oliver and Downtown area in December of 2013, 1 more than last month and 11 more than in December of 2012. The selling price ranged from $120,000, 890 sq.ft. condo in Seasons on the Park, to $950,000, 1,851 sq.ft penthouse in the Icon II high rise.

The average selling price was down by 6.5% from last month and 5% up from December of 2012. The price per square foot was up by $1 to $297. The inventory has decreased from 197 to 153 condos available. The average selling price was $284,022 and average list price $294,796 and $309 per sq ft. Current days-on-market are 57 days while sold-to-list price ratio remained same at 96%. 

The current absorption rate for Downtown and Oliver condos as of today stands at 4.6 months.

1 comment:

reality properties said...

thanks for the update. the markets are expected to move more fast after mid of 2014. i think the commercial sector will gloom more than residential one.