From a realtor:7 g- `# V3 ^5 t0 Z7 O( J* N
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./ Z0 Y* v( n2 l! B$ ^/ \6 W
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. $ l6 `+ T( a( X( _We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.. b2 ]' N r/ s+ U8 |* u9 ]6 d
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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. 6 J4 z$ S/ ]0 g* G- Q/ X$ D8 CMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month. Y9 y4 S8 y0 C X; Gask 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).- E F1 X+ O" ?' x
This is only one of the comments from the following blog:( r8 M( f1 f( z) l5 d( G! s z
) a b- a" T4 M/ s* v- v+ T0 ^; i http://edmontonrealestateblog.co ... -1213.html#comments t$ F" i) z4 @1 F) e5 I
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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: * U3 E, Q0 p. T* u2 N) ~0 J 1 w$ o3 _% d3 _http://edmontonrealestateblog.com