Thursday, June 4, 2015

Downtown Edmonton Real Estate Market Update!

Downtown and Oliver condo prices and average "days-on-market" are down in May of 2015, while number of sales and inventory are up!

64 condos have sold on the MLS® in Oliver and Downtown area in May of 2015, 32 more than last month and 17 less than in May of 2014. The selling price ranged from $98,500, 341 square foot studio in The Hargate, to $850,000, three bedroom 2,209 sq.ft. condo in the Arcadia. The average selling price was 306,117, down by 4.2% from last month and up by 4.0% from May of 2014. The price per square foot was also down at $306 from $323.

The inventory has increased from 285 to 310 condos available. The average list price was $313,621 and $314 per sq ft. Current days-on-market are 36, while sold-to-list price ratio has gone up by 1% to 97%. The current absorption rate for Downtown and Oliver condos as of today stands at 4.8 months compared to 8.2 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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