From a realtor:/ s {1 b! f- G; f9 `# r9 h* Y
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.; P' N$ h$ H: e
The 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. + v& b$ S5 K$ k- i8 lWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. * S9 p) v# a! l5 [+ }+ }.......' j4 D0 u6 C; ?3 R0 G5 O
You 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. / Y; @3 F+ v% C2 n- W3 ^" ^: B8 r$ @My wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.) ~8 K+ E' ?$ I- X+ O* X
ask 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). 4 j& G% g9 w- _( u' f( e! s
This is only one of the comments from the following blog:. I; U9 Z3 P, @( a/ {
: o1 q6 x( H- V5 w8 Ohttp://edmontonrealestateblog.co ... -1213.html#comments / C6 }) _! a1 A 0 D2 y* W/ o7 g3 W3 M o& y; ^ iActually, 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:' h0 I1 Q* e; g y9 @