From a realtor: 5 N9 @; g3 K5 }# NI 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.8 j+ c) n& W1 K! V$ O
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.$ B E* O4 ^" V( j5 s9 O
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. 6 r7 w& f8 _; q5 P) p! {3 T/ a....... + }7 w8 E5 m4 X2 }0 x2 H- P+ 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 Q$ I' j5 N7 e6 E( ] c1 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.( u5 t; y+ x! ^' r7 U3 @ `
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). % V! @6 B. E: {; Q5 p4 d6 u& ?8 e5 u
This is only one of the comments from the following blog:4 L) @! f& s7 y3 p8 z3 T( o
5 a# B/ z; m' S1 M0 P7 V4 K! A http://edmontonrealestateblog.co ... -1213.html#comments6 ~7 S# z9 w* A
2 B( q7 L$ E1 W8 g- |8 M
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:+ Z9 v9 A7 G6 x- ^1 u