From a realtor:9 U& q7 R1 |# u3 [8 w
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. ( c; n& x' e& N+ } Z2 n2 aThe 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. 9 @- S" U/ @1 S0 ~We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.( W& k/ m& f' [& ^+ ~7 N
....... 7 G# {1 e0 ?/ ]. t `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. ; P: v+ f- U# F0 oMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month. * Z `3 c4 V2 M6 B7 r% D( N4 h" O6 }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).5 v9 x1 E# H) G+ j' Z. m
+ v& n5 x& ?; [5 ~; a8 t/ KActually, 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: 6 [1 f* }& K; @ & d @% m4 L1 uhttp://edmontonrealestateblog.com