Price Reduced ... Daily

A home for sale in Edmonton, Canada, will be $1,000 cheaper tomorrow if it doesn't sell today.

Steve Sedgwick, a Realtor for Royal LePage Noralta in Edmonton, Canada, is knocking $1,000 off of the home price per day until the property sells, he announced on Aug. 31. The pricing strategy is intended to call more attention to the property in an environment of swelling for-sale inventory.

The 1,002-square-foot bi-level home had a list price of $375,000 in Canadian dollars ($357,109 in U.S. dollars at the current exchange rate) when the countdown auction began Sept. 1, and as of today is priced at $372,000. The home was reportedly appraised at $385,000 in May 2007.

If the home sells before Sept. 10 the seller will include a "$10,000 home theater package," according to an announcement by Sedgwick. The real estate countdown auction may be the first of its kind in Alberta.

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