Tuesday, March 4, 2014

Downtown Edmonton Real Estate Market Update

Downtown & Oliver condo prices are unchanged in February of 2014, while number of sales and inventory are up!

45 condos have sold on the MLS® in Oliver and Downtown area in February of 2014, 5 more than last month and 2 more than in February of 2013. The selling price ranged from $113,000, 613 sq.ft. condo in the Hargate, to $552,500, two bedroom, 2,249 sq.ft penthouse in Hudson House high rise.

The average selling price was down by 0.7% from last month and 3.6% down from February of 2013. The price per square foot was also down to $288 from $297. The inventory has increased from 160 to 172 condos available. The average selling price was $278,821 and average list price $291,130 and $299 per sq ft. Current days-on-market are down to 64 days while sold-to-list price ratio was down by 1% to 95%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.9 months.

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