Wednesday, September 3, 2014

Downtown Edmonton Real Estate Market Update

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

66 condos have sold on the MLS® in Oliver and Downtown area in August of 2014, 11 less than last month and 12 less than in August of 2013. The selling price ranged from $105,000, 401 sq.ft. studio in The Hargate, to $2,625,000, 3,126 sq.ft. 3 bedroom condo, in the not yet built, Symphony Tower. The average selling price (excluding the Symphony sale) was up by 4.2% from last month and up by 7.8% from August of 2013. The price per square foot was down at $302 from $328. The inventory has decreased from 221 to 180 condos available. The average selling price was $300,574 and average list price $309,857 and $312 per sq ft. Current days-on-market are 51 days while sold-to-list price ratio is down at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 2.7 months compared to 2.8 last month.

All the information in this article has been provided by Realtors® Association of Edmonton!

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