More condos selling. Prices dropping. Excess inventory disappearing. The condo market is an interesting place right now.
58 more condo units sold across Edmonton when compared to the third quarter of 2018. This confirms that buyers continue to seek out condo living as a lifestyle choice.
Condos continued to trade at a discount when compared to last year. On average condo units sold for about 10% LESS than last year, equal to an average discount of about $25,000. Condos have been selling at a discount for the entire year. This is not good news, but as excess inventory dries up this pattern must eventually change. Its beyond the scope of this report to examine the ages of the condos sold, but…