From a realtor: / l0 I' l. r: |$ ~8 ~! B* RI 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.) i3 F& y5 k% j- Z+ ^ ~
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.; E r8 Z# \6 Y
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. $ {; x7 a$ }& u# v* T9 l H.......8 G) q3 P! N6 e) ~; M
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. - B! y/ t c8 `' }- Y! lMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.4 _8 h2 s0 Z# K4 {4 `
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* X& }/ T% ~' H7 r. n
This is only one of the comments from the following blog:# J6 m, m. g3 K% K
2 W- K! q, H! v4 u( B( w http://edmontonrealestateblog.co ... -1213.html#comments 9 i- o: F( k" K* c$ D% z' o* k5 W- \& v# c. I& U8 E
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: ; i0 d/ I8 ~5 w8 S# s; P6 U+ k6 u$ A7 d% X4 f http://edmontonrealestateblog.com