From a realtor: x; B1 j& b$ m! C5 V; R
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.3 a$ f) u# C- y+ P2 @: G( k6 M
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.% F/ l% `+ D% S' l7 A; \. U
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. # f" e5 j# a$ I9 _.......' t/ ^ S& `$ ^# `# y8 |2 j
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.1 M+ z l5 g% T) M; p E4 g$ `
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.! x% ]5 v. R' [; v* z1 k
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 O+ K. T+ g: ]
This is only one of the comments from the following blog: . t5 {4 o$ {- [3 V& E' O 6 Z. s, K+ p, i t# shttp://edmontonrealestateblog.co ... -1213.html#comments ! Y: a" P9 V5 e2 H4 `( u5 N1 H$ W3 j9 \$ N
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:9 W0 G: q# A7 ]: l* `
$ l8 v$ X% S0 W3 m+ z http://edmontonrealestateblog.com