From a realtor:. A. d) U8 j S3 z. w. x" G
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.2 @: X1 c% K8 y0 i
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. 0 }: V3 Z3 h h5 L/ RWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.3 d) }0 e6 p( E
....... ( ] u- d) `; Q7 v9 R6 l' MYou 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.( o6 E+ B1 X/ J/ Y
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. * o( z x ~3 R2 x4 P2 L1 R* |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).% o) j% R! g+ x0 Z' A
3 A6 H E, L/ Y8 @8 AActually, 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:3 m# x9 ~, F" J9 C& F