From a realtor: 8 v* n3 C! `$ `- w2 S! DI 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. 2 s6 k8 Y& ^( l/ F+ ^( ]9 SThe 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. - q/ l/ j) p/ A; q/ l4 {We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. ! E2 |( h$ u% C# F....... $ b7 |) _& `( S& f$ E. wYou 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. 0 ~' `+ n* a* J: j0 O8 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.% H' a+ p. O# [
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 n5 l) z# L1 l" N0 p" |
This is only one of the comments from the following blog: 1 M/ Z% l+ t* O; I+ t: K) D# o' Y7 E* f# z+ k http://edmontonrealestateblog.co ... -1213.html#comments . V; E; u3 b5 F4 ]' A / r( t# e0 q1 Q* O& |7 dActually, 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: & a! o* W# f* |; q3 o! ?6 w7 ~* ^; u; N- K4 e7 k) a6 Z' d http://edmontonrealestateblog.com