Wednesday, February 3, 2016

Downtown Edmonton Real Estate Market Update!

Downtown and Oliver condo prices, Days-On-Market, and number of sales are down in January of 2016, while inventory is up!

21 condos have sold on the MLS® in Oliver and Downtown area in January of 2016, 6 less than last month and 9 less than in January of 2015. The selling price ranged from $113,000, 474 square foot studio in The Hargate, to $660,000, two bedroom 1,614 sq.ft. condo in The Arcadia. The average selling price was $292,119 down by 4% from last month and down by 9.6% from January of 2015 while the average list price was $309,271.

The inventory has increased from 192 to 197 condos available. Current days-on-market are 63 down from 68 in December of 2015. The absorption rate for Downtown and Oliver condos as of today stands at 9.4 months compared to 7.1 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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