From a realtor: 0 a G' @$ q5 W4 |$ ]* Q$ M; zI 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.% X! D# S- Y+ f$ j4 K8 |* N1 z
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.5 @0 ~* z' w$ ?
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.; g4 d1 I; ^ @) ^# T
.......) n6 b6 y$ M' }* i+ ~9 |8 a
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. 9 F* d5 K5 K$ NMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.+ z9 X& w: o. `1 F
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). : N! p% e Q& D$ n+ q$ i' J; @
This is only one of the comments from the following blog: * s/ W% l6 F Q1 q+ A8 }) h0 Y9 A0 Z" D$ { http://edmontonrealestateblog.co ... -1213.html#comments 8 y6 K2 d" i8 a8 r) a; O" e3 B% m7 U* P$ E! z
Actually, 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:6 _1 z C8 R f1 I
# x9 j% M; T% m4 @1 b http://edmontonrealestateblog.com