From a realtor:0 E C( G8 l; X
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.( R% M V5 O2 N+ |8 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.( T/ c7 n: i) x( K
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.# J' W8 Q! F; J4 Y
....... * o" f/ i M7 ~7 u0 z1 E8 _2 ^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.6 _! n7 [9 A% X: ]. f6 O8 P
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. 9 |2 y- m1 c: {. v0 rask 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).* d; e+ \# d7 w6 r$ @
This is only one of the comments from the following blog: " e/ _2 @9 M) \' k7 |7 [# J6 N8 u5 i5 ?, s7 X6 D% g7 B4 } http://edmontonrealestateblog.co ... -1213.html#comments5 U/ p& Z! e" I/ D/ i* C& U
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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:. K( c( k8 X$ O9 D, h
& N. H( G6 z! p' g* u) e$ u9 s http://edmontonrealestateblog.com