From a realtor: c8 @: R0 D7 G; [. z0 E' Y
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. % V! x* X' O9 c8 C. cThe 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. 8 F( v0 k Q9 J4 SWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.$ n$ k( S ^* t& e" m+ ^
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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." Z* E* g" u7 S! \* a' P p: [4 z9 G( h4 Q
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.+ @% l% S3 l% i) m6 f
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). 0 M/ R S# l+ W' \# x+ W3 D
, M* U7 D' o( T4 H# {- cActually, 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:) z' m m- @1 i3 Z
6 d0 }+ N0 S3 m8 h/ }6 W http://edmontonrealestateblog.com