Thursday, April 3, 2014

Downtown Edmonton Real Estate Market Update

Downtown & Oliver condo prices, number of sale, and inventory are up in March of 2014, while average days-on-market are down!

63 condos have sold on the MLS® in Oliver and Downtown area in February of 2014, 18 more than last month and 7 more than in March of 2013. The selling price ranged from $90,000, 635 sq.ft. condo in Torrey Pines, to $685,000, four bedroom, 2,337 sq.ft condo in the Arcadia high rise.

The average selling price was up by 6.5% from last month and down by 3.1% from March of 2013. The price per square foot was also up at $293 from $288. The inventory has increased from 172 to 202 condos available. The average selling price was $297,426 and average list price $306,065 and $301 per sq ft. Current days-on-market are down to 56 days while sold-to-list price ratio was up by 1% to 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.2 months compared to 3.9 in February.

Brought to you by: Downtown Edmonton Real Estate Blog

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