From a realtor: 4 |% Y1 c! F$ Q+ q* jI 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. 7 n/ j' s" j$ F+ x+ tThe 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. P r" I! T i/ h3 lWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. * \5 n5 | k W- _ G9 J.......# K3 m* F( R( ]: O4 F% d
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 s7 Y; s: Z. Z3 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." R" m7 y9 ~. i; b* g; ~( n% y. s
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).$ ^! a! G3 o1 S0 H
This is only one of the comments from the following blog: 4 r q' n) Y, I: F% i" ?* T$ W+ S+ n2 x( i http://edmontonrealestateblog.co ... -1213.html#comments; ]; X& n6 F% g: ^- y+ R' m- T& Y
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