Monday, June 9, 2014

Downtown Edmonton Real Estate Market Update!

Downtown & Oliver number of condo sales and inventory are up in May of 2014, while average days-on-market and selling prices unchanged! 

81 condos have sold on the MLS® in Oliver and Downtown area in May of 2014, 8 more than last month and 17 more than in May of 2013. The selling price ranged from $113,000, 448 sq.ft. bachelor in Glenora Manor, to $817,800, two bedroom and a den, 1,613 sq.ft condo in the Serenity high rise.

The average selling price was almost identical as last month and up by 5.6% from May of 2013. The price per square foot was up at $316 from $303. The inventory has increased from 223 to 231 condos available. The average selling price was $292,345 and average list price $300,423 and $324 per sq ft. Current days-on-market are down to 40 days while sold-to-list price ratio unchanged at 97%.

The current absorption rate for Downtown and Oliver condos as of today stands at 2.85 months compared to 3.0 in May of 2014.

Brought to you by Downtown Edmonton Real Estate Blog!

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