From a realtor:% X1 K' p6 r+ B2 y* W' g
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.4 X/ f) ~1 u! e1 E: m: M' B" S
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. 9 J1 J1 b" b4 c5 `( |' vWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. 6 A+ U! ~1 Q' W3 l! q....... $ y4 r7 y# p% `" {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.* h$ [' z2 ^2 @2 T T
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.8 f$ K6 J: c3 ]- Q# H. [6 l* t
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). + B m# W" ~5 z' C2 _6 w
This is only one of the comments from the following blog:0 G4 D# o: ]( J. S
, q' { y& O8 c& P( y. Thttp://edmontonrealestateblog.co ... -1213.html#comments 8 Q h4 j& M/ F) W3 l+ V " j/ l# ]. W3 a6 \" b; vActually, 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:( ?$ ~% ~' g# E6 [8 y
, B8 }0 A9 E0 e- f& m7 g http://edmontonrealestateblog.com