Thursday, December 4, 2014

Downtown Edmonton Real Estate Market Update!

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

45 condos have sold on the MLS® in Oliver and Downtown area in November of 2014, 1 more than last month and 13 more than in November of 2013. The selling price ranged from $118,000, 445 square foot studio in The Hargate, to $1,050,000, three bedroom 1,711 sq.ft. penthouse in The Quest.

The average selling price was up by1.3% from last month and up by 5.7% from November of 2013. The price per square foot was also up at $332 from $331. The inventory has decreased from 161 to 142 condos available. The average selling price (excluding the sale in The Quest) was $322,223 and average list price $332,695 and $344 per sq ft. Current days-on-market are 50, while sold-to-list price ratio stands unchanged at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.3 months compared to 3.7 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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