Friday, September 4, 2015

Downtown Edmonton Real Estate Market Update!

Downtown and Oliver condo prices, number of sales, average days-on-market, and inventory are down in August of 2015.

60 condos have sold on the MLS® in Oliver and Downtown area in August of 2015, 14 less than last month and 6 less than in August of 2014. The selling price ranged from $137,000, 538 square foot one bedroom in Royal Oak, to $750,000, two bedroom 1,410 sq.ft. condo in Icon One on 104th street. The average selling price was $286,217 down by 3% from last month and down by 4.8% from August of 2014. The price per square foot was actually up at $331 from $318, due to a larger amount of smaller condos sold in August. The inventory has decreased from 250 to 237 condos available.

The average list price was $295,209 and $342 per sq ft. Current days-on-market are 50, while sold-to-list price ratio has gone down by 1% to96%. The current absorption rate for Downtown and Oliver condos as of today stands at 3.9 months compared to 3.4 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