From a realtor: . j& B9 c( c7 M" X3 z& _7 YI 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.2 H9 q9 g5 ?2 ^2 K( 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. ( G5 A# p" B* A2 Y1 d& [We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. " I z1 K. C0 x' `....... + i+ b1 P1 z5 l7 qYou 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.9 R( L# N' I3 Y2 X$ t
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. 7 P' ]3 |$ z" x8 \1 K' E1 W( xask 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). * l7 @* x% \; P" m
; W' \; g8 E+ u; z3 s' z0 y2 ]% c3 vActually, 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:- T7 W! i7 }3 g2 Q1 u! L