Quote:
Originally Posted by Calgary14
Has anyone actually noticed a drop in house prices (yet)? From a quick glance on MLS it looked like prices haven't changed and there aren't very many bargains. Of course that could change if oil stays low for a long period of time
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CREB stats show a 4% drop on average. I am very familiar with pricing in Lake Bonavista, Parkland and Maple Ridge. New listings are much more reasonable than last summer. Newly reno-ed flips are getting reduced 50K+ and still sit.
Third of these homes are vacant. Prices have nowhere to go but down at this point.