Monday, May 2, 2016

Downtown Edmonton Real Estate Market Update

Downtown and Oliver condo prices are down in April of 2016, while inventory, number of sales, and average days on market are up!

51 condos have sold on the MLS® in Oliver and Downtown area in April of 2016, 10 more than last month and 19 more than in April of 2015. The selling price ranged from $76,000, 441 square foot studio in The Hargate, to $635,000, two bedroom 1,656 sq.ft. condo in The Glenora.

The average selling price was $300,571 down by 4.5% from last month and down by 6% from April of 2015 while the average list price was $312,055.

The inventory has increased from 245 to 277 condos available. Current days-on-market are 51 up from 41 in March of 2016. The absorption rate for Downtown and Oliver condos as of today stands at 5.4 months compared to 6 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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