From a realtor: 4 T2 ^7 s) ^2 T5 R3 P" HI 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.0 r# [4 X& r# Q. L5 |9 T3 M h5 ]& l
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. : }2 p" G: @2 F( l7 r2 uWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. ! `- D* G4 C+ c9 {2 W........ _; T9 ^* f7 e" |- @) w2 g9 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. 3 P2 @- l8 n/ W9 [ [9 t: xMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month. $ ?& e5 g" a5 Y0 y' x6 ]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).* g3 S0 k& f% L" t8 h
This is only one of the comments from the following blog:- m. Z( \/ i2 N# k$ }
5 l; [# G: m6 n http://edmontonrealestateblog.co ... -1213.html#comments - Y6 }: }8 d: _! V+ `0 z# ?2 Q/ D ; E) W& ]5 k8 c5 m/ k3 YActually, 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: # t/ o3 {& L. g! x 9 _6 y+ B4 b5 _& l r( Ohttp://edmontonrealestateblog.com