Let’s compare Real Estate from 2014 – 2015
This graph shows the number of available homes and available condos in Winnipeg, on Sept 15th 2014 & 2015 respectively.
The ‘expired’ stats for homes and condos were from the 30-day period prior to Sept 15th of each year. As we can see, the numbers of listings and expired listings in both houses and condos are up in 2015, when compared to the same period in 2014
Now, lets look at actual sales of homes and condos in the same period.
Here we can see that sales of entry-level homes (under $250K) are down, while mid-range homes ($250-$500K) and luxury homes (over $500K) are up. Condos are also down from last year.
Summary: With more real estate listings to chose from, and roughly the same level of buyer activity, Winnipeg’s market has become more balanced. In the case of entry level homes and condos, you might even call it a ‘ Buyers Market’.
Liberal win: Good for first-time home buyers, real estate
Continued interest by foreign investors From a fiscal point of view, the Liberal government will be moving Canada from a modestly restrictive economy to an economy with modest stimulus, explained Craig Alexander, vice president of economic analysis at the C. Alexander explained that the $10-billion annual spend promised by the Liberals (for the next couple of years) wont really impact the overall valuations of the Canadian economy. For the last year, foreign investors have been partly blamed for the run-up in housing prices in the hot markets of Toronto and Vancouver.
More info via Winnipeg’s Real Estate Blog