Tuesday, July 8, 2014

Downtown Edmonton Real Estate Market Update!

Downtown  and Oliver condo prices, inventory and average days-on-market are up in June of 2014, while number of sales are down.

75 condos have sold on the MLS® in Oliver and Downtown area in June of 2014, 6 less than last month and 9 more than in June of 2013. The selling price ranged from $112,500, 570 sq.ft. one bedroom unit in Royal Oak Oliver, to $919,000, three bedroom, 2,228 sq.ft. luxury condo in the Arcadia. The average selling price was up by 3.6% from last month and up by 1.6% from June of 2013. The price per square foot was up at $322 from $316. The inventory has increased from 231 to 244 condos available. The average selling price was $303,354 and average list price $312,698 and $331 per sq ft. Current days-on-market are up to 48 days while sold-to-list price ratio is down to 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.2 months compared to 4.6 in June of 2013.

Brought to you by Downtown Edmonton Real Estate Blog!
All the information in this article has been provided by Realtors® Association of Edmonton!

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