Thursday, October 6, 2016

Downtown Edmonton Condo Prices Are Down In September!

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

38 condos have sold on the MLS® in Oliver and Downtown area in September of 2016, 12 less than last month and 11 less than in September of 2015.  The selling price ranged from $98,000, 344 square foot studio in The Hargate, to $575,000, 1,417 sq.ft. 2 bedroom sub-penthouse in Icon One.  The average selling price was $316,685 down by 11% from last month and down by 5% from September of 2015 while the average list price was $293,644.

The inventory has decreased to 251 from 271 condos available.  Current days-on-market are 60 up from 53 in August of 2016.  The absorption rate for Downtown and Oliver condos as of today stands at 6.6 months compared to 5.4 last month.

All the information in this article has been provided by Realtors® Association of Edmonton.

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