Downtown real estate market on the rise! How far and for how long only the "gods" know! The average selling price for condos are up while inventory climbing and number of sales is flat. I am very interested to see the next two months ahead. While downtown condos this year are more expensive compared to last year, the inventory is high. Example, you could buy a two bedroom condo in the Imperial building for around 260K at the beginning of 2009, this year the lowest two bedroom unit is listed around 317,000.

65 condos have sold through the MLS® System in Oliver and Downtown in May of 2010, that is 7% less than last month and 22% less than in May of 2009, ranging in price from 113,125 to 1,100,000. The price per square foot was up by 5 percent and 12 % higher compared to May of last year. The average selling price was 303,327 / 310 per sq.foot and list price 316,604 / 322. The inventory was up from 342 condos to 353, with 311 condos available under 500K. Current days on market have decreased to 46 from 50 days and sold to list price ratio stands at 96%, same as last month.

View more information at Downtown Edmonton Real Estate Blog