From a realtor:/ ^3 L2 {$ I8 I/ T4 @- v
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. - ^9 m1 |; O7 H3 \: CThe 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. ! w5 O1 B6 y9 f7 J* mWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.6 a% j9 w( [. R1 i% q
....... 1 Y3 ?1 ^ P" M- [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. " Z6 W) W0 V! E: K- i! I2 Z0 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. ! P3 f1 }) 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).+ S8 j i3 u% l* a( P4 V a* f
This is only one of the comments from the following blog: 9 w x5 L7 S# q8 n7 _/ P& a3 {+ z; H! U http://edmontonrealestateblog.co ... -1213.html#comments & w9 K" Q) ~9 y1 b2 X4 x& Y6 C V n# \# [! q& I( |9 w
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: 2 W0 x7 y/ `4 M: U! Q: o$ C: q6 B* r* d http://edmontonrealestateblog.com