Tuesday, May 6, 2014

Downtown Edmonton Real Estate Market Update

Downtown & Oliver number of sales and inventory are up in April of 2014, while average days-on-market are down and average selling price unchanged! 

73 condos have sold on the MLS® in Oliver and Downtown area in April of 2014, 10 more than last month and 18 more than in April of 2013. The selling price ranged from $110,000, 334 sq.ft. condo in Oliver Ridge, to $853,000, two bedroom, 1,570 sq.ft condo in the Serenity high rise.

The average selling price was almost identical as last month and up by 2.4% from April of 2013. The price per square foot was up at $303 from $293. The inventory has increased from 202 to 223 condos available. The average selling price was $293,798 and average list price $300,568 and $310 per sq ft. Current days-on-market are down to 43 days while sold-to-list price ratio was up by 1% to 97%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.0 months compared to 3.2 in April.

Brought to you by Downtown Edmonton Real Estate Blog

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