From a realtor:% w' b4 a' C5 i7 K m
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. 5 W# _" z5 F6 ~) 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.# E* Z. t1 }: f0 b: @0 i; I l
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. 9 D3 S8 y- x# S3 K2 P& v....... ; U6 o+ \$ B; U. T3 X- P6 ^( u3 MYou 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 o- t0 B- l; _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. - a }; }$ I x7 aask 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). 6 f4 Z! [5 P3 V: \+ N9 v% b
This is only one of the comments from the following blog:% m" `4 X, X* h% b% H1 A2 F
' A' G9 v; L2 B( G$ P* Thttp://edmontonrealestateblog.co ... -1213.html#comments S- F( H& i4 W. I2 D c 6 P. d) k* }: d1 O' h$ uActually, 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: 0 B M8 ]1 f: W# P! c2 ]' {$ F6 x! ^: c \$ r8 ` http://edmontonrealestateblog.com