From a realtor: / c* Z ~5 J( e# kI 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. 2 C$ B6 M1 S& sThe 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.( p1 n" _. H8 \+ C; m8 z
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. ; j& v* q- @* J+ O' _# y4 s& l# T....... ; C/ C. c" G& [* u! c+ k/ l8 sYou 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. . I. A U* a8 D$ W1 v* ZMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month. # V2 `. P4 n* [6 U4 @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).8 L* ?% R5 F: P# D# D8 j
" {3 K4 R# z; g0 GActually, 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:- V0 T# p6 M1 J
- X4 `' z9 u6 B& K+ i http://edmontonrealestateblog.com