From a realtor:* s0 V9 O1 H1 { A4 U' |4 b3 W( Q
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. ( U2 ]' X# r& I) M2 P& dThe 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. x7 X& x- L0 h# @- d. hWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.% ]$ [( Q+ N4 F9 T
....... 3 S" g- v8 e" TYou 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.1 c0 N' J4 E4 q x" @6 ]
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.( ^# p$ v' r4 m( Q r
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).) q4 L5 |& ]4 ]3 ^
This is only one of the comments from the following blog: 5 z# {* y2 j* O/ V6 I8 ^5 }, ]% U3 b7 y5 j" C http://edmontonrealestateblog.co ... -1213.html#comments& D/ A8 d+ \ ]) _# X6 A' X
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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:5 n# m9 F* K: ]! ~! x6 K
$ n) T3 O; g. F% G% L. Y http://edmontonrealestateblog.com