Wednesday, May 6, 2015

Downtown Edmonton Real Estate Market Update!

Downtown and Oliver condo prices, remain unchanged while inventory is up in April of 2015!

32 condos have sold on the MLS® in Oliver and Downtown area in April of 2015, 11 less than last month and 41 less than in April of 2014. The selling price ranged from $90,000, 341 square foot studio in The Hargate, to $1,085,000, three bedroom 1,711 sq.ft. penthouse in The Quest.

The average selling price (excluding The Quest sale) was very much unchanged from last month and up by 8.1% from April of 2014. The price per square foot was down at $323 from $324. The inventory has increased from 235 to 285 condos available. The average selling price was $319,831 and average list price $332,503 and $334 per sq ft. Current days-on-market are 44, while sold-to-list price ratio stands unchanged at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 8.2 months compared to 5.5 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