Tuesday, November 4, 2014

Downtown Edmonton Real Estate Market Update!

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

44 condos have sold on the MLS® in Oliver and Downtown area in October of 2014, 18 less than last month and 2 less than in October of 2013. The selling price ranged from $94,000, 344 square foot studio in The Hargate, to $669,543, 1,265 square foot 2 bedroom condo in Symphony Tower. The average selling price was down by 0.6% from last month and up by 9% from October of 2013. The price per square foot was up at $331 from $308. The inventory has decreased from 170 to 161 condos available. The average selling price was $318,188 and average list price $327,467 and $341 per sq ft. Current days-on-market are 60, while sold-to-list price ratio stands unchanged at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.7 months compared to 2.9 last month.

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

Brought to you by Downtown Edmonton Real Estate Blog!

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