Tuesday, January 6, 2015

Downtown Edmonton Real Estate Market Update

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

38 condos have sold on the MLS® in Oliver and Downtown area in December of 2014, 7 less than last month and 5 more than in December of 2013. The selling price ranged from $128,000, 587 square foot one bedroom condo in Park Manor, to $2,099,500, two bedroom 2,619 sq.ft. condo in the Carlisle. The average selling price was down 6% from last month and up by 5% from December of 2013. The price per square foot was also down at $325 from $332.

The inventory has decreased from 142 to 122 condos available. The average selling price (excluding the sale in The Carlisle) was $300,186 and average list price $310,294 and $337 per sq ft. Current days-on-market are 52, while sold-to-list price ratio stands unchanged at 96%. The current absorption rate for Downtown and Oliver condos as of today stands at 3.2 months compared to 3.3 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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