July 2020 Winnipeg Condo Market Update
Welcome to the report on the Winnipeg Condo Market . This report, which is updated monthly with the latest real estate market information, focuses on all styles and price ranges of condominiums in Winnipeg, including E.St.Paul and Headingley. Stats are pulled from the MLS®.
For our monthly report on houses, see our Winnipeg Housing Market Report.
Condo Market Highlights for June 2020
Condo sales of 108 are a significant improvement over last month, and even over the same period in 2019.
How about availability of condos in Winnipeg
Compared to 2019, the numbers of listed condos are down quite a bit. Last year we had 837 Condominiums available, compared to 655 last month, and 672 right now (July 1st)
Condo Sales in Winnipeg during the month of June 2020
While the available listings are down, the sales are actually UP. In both price ranges, sales in June have outpaced those of last month and of last year.
Are Winnipeg condos a buyers market?
Although the pace of sales is faster than last year, when compared to housing sales, condos are still a very strong buyers market. IE: If you’re looking to get into how own home, and want to avoid bidding wars, or are looking for something a little lower priced, condos offer a great option.
Aside from being lower priced and in a slower market pace, there are a number of advantages to owning a condo.
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Winnipeg Condo Market Report April 2020
For this report, we look at the condominium sales during March 2020. Is now a good time to buy or sell a condo in Winnipeg?
Currently, there are 615 Condos available for sale in our city. That is slightly higher than last month, but it’s 45 LESS than last year the same time.
During the month of March, Winnipeg REALTORS ® sold 67 condominiums in Winnipeg. Thats down from the previous month, and also down over 2019 same period. So while available condos dropped in numbers, sales dropped along with it. Since sales dropped at a higher rate, the market is becoming even more a ‘buyers market’ in the condo sector.
Days of Inventory works like this: the higher the number, the softer the market. IE: Higher numbers = Buyers Market.
So we can see that in the entry level condos, 252 days of inventory is more than last month and also more than last year. The same goes for condos over $250,000…. In fact, 339 days of inventory is closing in on the all time high mark for this market segment.
How about Condo-Seller Confidence?
Are sellers still listing their condos right now? Let’s look
As we can see in the Condo Listings Graph, 271 new listings came to market in March. This is up (as expected) from February, however down about 7% from last year same time.
The May 2020 report will be interesting to see if this trend continues.
Here is the April Report in Video Form
Winnipeg Condo Market Update for January 2020
Here I present a different way of comparing this months’ sales to the previous month, as well as the previous year in our condominium market.
Available Condo Listings bet. $100-$249K
Currently, there are 272 condos, priced bet. $100K and $250 K, available for sale in Winnipeg. This is down about 15% from last month, and also down from the same time last year (-11%)
Entry Level Condos SOLD in the past 31 days
Over the past month, Winnipeg REALTORS® have sold 23 condos in this price range, a significant drop from last month, and also a little less than last year.
Days of Inventory
This statistic is the answer to the question: “If NO MORE LISTINGS come to the market right now, how long would it take to sell all available condos at the current rate?” Here, the lower the number, the hotter the market, and a higher number reflects a stronger ‘Buyers Market’.
So, offsetting the decreased number of available condos with a huge drop in sales, causes the ‘Days of Inventory’ to jump to 366 days, a 37% increase over last month, and down -8% from last year.
Upper-End (Lux) Condos in Winnipeg, over $250K
Available Condo Listings above $250K
Currently, there are 234 condos available for sale in Winnipeg in this price range, about 12% fewer than in October, and -4% over December 2019.
Sold in the past month
Over the past month, Winnipeg RELATORS® have sold just 5 condos in this price range. This is huge, 74% drop from last month, AND about 50% drop from last year.
Days of Inventory
Currently, Winnipeg‘s condo market inventory sits at 1450 days , which is really a statistical anomaly due to the abnormal slow sales in December.
What does this all mean? Summary
The condo market under $250 has moved towards a hot buyers market. Last month’s inventory level of 267 increased to 366 days. Great time to buy if you can find something.
For condos OVER $250K, a significant shift has occurred. Inventory jumped to 1450 days…. a strong super hot buyers market.
If you’re in the market to buy a condo, please call me anytime. I know the market very well and will help guide you to a great new home.
Winnipeg Condo Market Update for November 2019
Here I present a different way of comparing this months’ sales to the previous month, as well as the previous year in our condominium market.
Available Condo Listings bet. $100-$249K
Currently, there are 361 condos, priced bet. $100K and $250 K, available for sale in Winnipeg. This is down about 11% from last month, and also down from the same time last year (-5%)
Entry Level Condos SOLD in the past 31 days
Over the past month, Winnipeg REALTORS® have sold 46 condos in this price range, four more than in October, and a little more than in 2018.
Days of Inventory
This statistic is the answer to the question: “If NO MORE LISTINGS come to the market right now, how long would it take to sell all available condos at the current rate?” Here, the lower the number, the hotter the market, and a higher number reflects a stronger ‘Buyers Market’.
So, combining the decreased number of available condos with the increase in sales, causes the ‘Days of Inventory’ to drop to 243 days, down a nice -16% from last month, and down -8% from last year.
Upper-End (Lux) Condos in Winnipeg, over $250K
Available Condo Listings above $250K
Currently, there are 280 condos available for sale in Winnipeg in this price range, about 5% fewer than in October, and +2% over October 2018.
Sold in the past month
Over the past month, Winnipeg RELATORS® have sold 28 condos in this price range. This is up +8% over both last month, AND last year.
Days of Inventory
Currently, Winnipeg‘s condo market inventory sits at 310 days in this price range, down -9% from last month, but +6% over last year.
What does this all mean? Summary
The condo market under $250 has move a little bit towards a more balanced market. Last month’s inventory level of 289 dropped to 243 days. Still pretty much a buyers market.
For condos OVER $250K, a similar shift has occurred. Inventory dropped from 339 days to 310 days…. however such a shift is really just theoretical as this market remains a strong buyers market.
If you’re in the market to buy a condo, please call me anytime. I know the market very well and will help guide you to a great new home.
For older reports, click the down arrow here
Winnipeg Condo Market Report for November 2018
Here I present a different way of comparing this months’ sales to the previous month, as well as the previous year.
Available Condo Listings bet. $100-$249K
Currently, there are 382 condos, priced bet. $100K and $250 K, available for sale in Winnipeg. This is down about 8% from last month, and a little more than last year this time.
Entry Level Condos SOLD in the past 30 days
Over the past month, Winnipeg REALTORS® have sold 45 condos in this price range, exactly the same as in October, and a little more than in 2017.
Days of Inventory
This statistic is the answer to the question: “If NO MORE LISTINGS come to the market right now, how long would it take to sell all available condos at the current rate?” Here, the lower the number, the hotter the market, and a higher number reflects a stronger ‘Buyers Market’.
So, combining the decreased number of available condos with the increase in sales, causes the ‘Days of Inventory’ to drop from 274 to 263, not much movement there. It also becomes a slightly warmer market than the same time last year, when inventory levels were at 285.
Newly Listed Condos
Over the past month, 138 new condo listings have come to the MLS®, up from the 124 in October, and also up from last year November (120).
Expired Listings
Over the past month, 105 listing have either expired or been withdrawn from the market.
Summary of the Entry-Level Winnipeg Condo Market
Condos in all price ranges are still a buyers market, especially when compared to houses in the same range.
Upper-End (Lux) Condos in Winnipeg, over $250K
Available Condo Listings above $250K
Currently, there are 275 condos available for sale in Winnipeg in this price range, about 5% fewer than in October, and close to the same number as November 2017.
Sold in the past month
Over the past month, Winnipeg RELATORS® have sold 26 condos in this price range. This is down about 10% from October, and 20% from last year.
Days of Inventory
Currently, Winnipeg‘s condo market inventory sits at 328 days in this price range, up significantly from last month, and also up from the 268 days last November.
Newly Listed Condos
Over the past month, 100 new condos listings have come to the MLS®, down from last month, and up from last year.
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Expired Listings
Over the past month, 68 listing have either expired or been withdrawn from the market, down slightly from last month, and same as last year.
Summary of the Lux-Condo Market in November 2018
Condos in the upper price ranges are in a very strong buyers market. Some upper-end luxury condos have taken over a year to sell, so the options for buyers are great!
Winnipeg Condo Market Report for August 2018
Here I present a different way of comparing this months’ sales to the previous month, as well as the previous year.
Available Condo Listings bet. $100-$249K
Currently, there are 487 condos, priced bet. $100K and $250 K, available for sale in Winnipeg. This is down about 7% from last month, but still up 10% over last year the same time.
Entry Level Condos SOLD in the past 30 days
Over the past month, Winnipeg REALTORS® have sold 54 condos in this price range, up from 49 in July, and coincidentally the same number as August 2017.
Days of Inventory
This statistic is the answer to the question: “If NO MORE LISTINGS come to the market right now, how long would it take to sell all available condos at the current rate?” Here, the lower the number, the hotter the market, and a higher number reflects a stronger ‘Buyers Market’.
So, combining the decreased number of available condos with the increase in sales, causes the ‘Days of Inventory’ to drop from 330 down to 280. Dont’ break out the champagne, even the lower number of 280 days denotes a fairly slow market, which would take over 9 months to sell everything thats available.
Newly Listed Condos
Over the past month, 264 new condo listings have come to the MLS®, down from the 179 listed in July, and down from the 175 last year.
Days of Inventory
