From a realtor:( k- C7 u/ r/ O
I get new listings/changed listings/price changes sent to me weekly. I can’t tell you how many have had “price reduced” on them. Houses that were priced 560+ are now going for 499K. ! u) k# h k6 ?* n$ b3 PThe inventory is a bit low, but a lot of the inventory that we are looking for (500k+) are really crappy houses. We know of a house that we’ve had our eye on for about a year and its been on the market for 5 years (vacant). A brand new build…that’s going from original asking price of 780K down to 650K. I can’t imagine the holding costs on this house (property taxes, utilities) for the 5 years.! b* {! S; l) h
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.6 A# d) J: N# c/ u# t/ B8 x1 M
....... . x8 h9 g2 d' K# a3 _6 Y P9 UYou need to look at price history, not the Days on Market number. Many houses get relisted when they cant sell for the original asking price. % j3 R/ w8 `! OMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month. 0 N7 |+ G$ \# X. r% A0 jask your sales person for a price history. The ask/sell price stats are a complete lie. Any honest realtor will tell you that (like ours). 2 M- `8 C& \# t9 Z6 o1 X- {
This is only one of the comments from the following blog: 9 w: r; k4 y8 V7 P \% G( }' s1 r6 U! Y4 q3 G2 X+ } http://edmontonrealestateblog.co ... -1213.html#comments 0 G& o* D8 Y9 t/ ^5 F! V % Q8 ?3 I( i$ z, E3 n" m, |- jActually, the blog is good for poeple who are intered in the real estate info such as Edmonton Real Estate Market Weekly Update. The link is as below:1 p' ~# e- D" G1 l( w