Friday, December 9, 2016

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

36 condos have sold on the MLS® in Oliver and Downtown area in November of 2016, 1 less than last month and 7 less than in November of 2015.

The selling price ranged from $121,750, 532 square foot studio in River Valley Condominiums, to $1,390,000, 1,995 sq.ft. penthouse in The Ultima. The average selling price (excluding The Ultima sale) was $312,117 up by 0.8% from last month and up by 2.0% from November of 2015 while the average list price was $325,161.

The inventory has decreased to 232 from 240 condos available. Current days-on-market are 50 down from 52 in November of 2016. The absorption rate for Downtown and Oliver condos as of today stands at 6.4 months compared to 6.5 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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