Downtown real estate market has cooled in June!

The average selling price for condos is down while inventory is climbing towards last year's numbers and the amount of sales has decreased substantially. The market is obviously just as unpredictable this year as the World Cup - can you believe Brazil is out, Netherlands is in, and Argentina just got a royal "butt kicking" this morning?!? But I digress...

56 condos have sold through the MLS® System in Oliver and Downtown in June of 2010, that is 14% less than last month and 43% less than in June of 2009, ranging in price from 113,000 to 805,000. The price per square foot was down by 4.5 percent and 4 % higher compared to June of last year. The average selling price was 270,711 / 296 per sq.foot and list price 282.278 / 308. The inventory was up from 353 condos to 360, with 322 condos available under 500K. Current days on market have increased to 50 from 55 days and sold to list price ratio stands at 96%, same as last month.

More information and graphs at Downtown Edmonton Real Estate Blog