Thursday, November 8, 2018

Downtown & Oliver Condo Market Down In October of 2018

31 condos have sold via the MLS® in Oliver and Downtown area in October of 2018, 1 less than last month and 5 less than in October of 2017.

The selling price ranged from $96,380, one bedroom 604 sq.ft. condo in The Hargate, to $600,000, unit in The Seventh Street Lofts. The average selling price was $258,791 down by 11.3% from last month and down by 20.2% from October of 2017, while the average list price was $270,961. The inventory has decreased to 273 from 310 condos available. Current days-on-market are 50 down from 67 in September of 2018. The absorption rate for Downtown and Oliver condos as of today stands at 8.8 months.

IMPORTANT TO NOTE: the selling price average is much lower due to 29 out of 31 condos that have sold in October, sold below 500K mark. One should look at the average for at least last 6 months to get the sense of the market.

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

Brought to you by: Downtown Edmonton Real Estate Blog!

No comments: