We are seeing developers reducing their condo prices to make the sale. Two examples I've noticed in the past week.
1) Tuscany Village - For months, their full page ad in the Times Colonist stated how units have been held at June 2006 prices. This past week, in celebration of their on-site show suite, prices have been "temporarily" reduced. We'll see how "temporary" those prices are! Did anyone check out what the discounts were like?
2) Reflections in Langford - The website for Reflections has prices starting at $299,900. For months, the lowest priced unit on MLS for the development was $289,900. Today, there is a unit on MLS for $279,900. That's a $20,000 discount. Aren't you glad you didn't buy when it was first released! Won't you be glad in the future when you look back to your decision today to wait a little longer!
Any other discounted condos out there? I'm betting we'll see discounts at Carey Hill Walk, McConnell Place, the Juliet, and others. Just you wait...