Wednesday, September 7, 2016

Downtown Edmonton Real Estate Market Remains Stable!

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

50 condos have sold on the MLS® in Oliver and Downtown area in August of 2016, 11 less than last month and 10 less than in August of 2015. The selling price ranged from $115,000, 447 square foot studio in Glenora Manor, to $757,500, 2,209 sq.ft. 3 bedroom condo in the Arcadia. The average selling price was $316,685 up by 9.3% from last month and up by 9% from August of 2015 while the average list price was $328,099.

The inventory has decreased to 271 from 295 condos available. Current days-on-market are 53 up from 49 in July of 2016. The absorption rate for Downtown and Oliver condos as of today stands at 5.4 months compared to 4.8 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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