Wednesday, February 5, 2014

Downtown Edmonton Real Estate Market Update

Downtown & Oliver condo prices are down slightly in January of 2014, while number of sales, average days on market, and inventory are up!

40 condos have sold on the MLS® in Oliver and Downtown area in January of 2014, 10 more than last month and 13 more than in January of 2013. The selling price ranged from $98,800, 445 sq.ft. condo in the Hargate, to $645,000, two bedroom, 1,579 sq.ft condo in the Serenity high rise.

The average selling price was down by 1.1% from last month and 3% up from January of 2013. The price per square foot was identical at $297. The inventory has increased from 153 to 160 condos available. The average selling price was $281,022 and average list price $291,009 and $308 per sq ft. Current days-on-market are down to 68 days while sold-to-list price ratio is the same as last month at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 4 months.

Brought to you by Downtown Edmonton Real Estate blog.