From a realtor: 7 |* N# S' @. W- L9 l) q% aI 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.1 R1 x! d2 ^% ?
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.7 n0 c/ ?3 X& S# O' a
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.. c& X; k+ h0 _8 D* n/ n# v( c
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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. 2 t* {' f) p. Y/ @; zMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.* M0 S" I4 `3 i# z7 ]8 ^* Z
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). # G# p8 Y$ T" J- E
This is only one of the comments from the following blog:7 b6 Z1 H6 q x( g" q A9 x! _2 W2 Z2 r
% o; ~ q r! R! W0 m! }) Y http://edmontonrealestateblog.co ... -1213.html#comments ! ]2 h h* b" i0 @- P; S( `# o! i0 g# E* R
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: ) L5 u2 q5 _$ y3 P4 x , ?- e8 x& B( R( B# a( ]& O5 ?http://edmontonrealestateblog.com