Market Report for October 2019
According to Winnipeg REALTORS, October sales of 1,173 homes was an increase of 6 percent over October 2018. Now, while that normally would drive prices up, the fact that our inventory is higher by 18 percent over last year helps keep prices in check for home buyers. The bidding wars of the springtime are nothing but a bad memory.
In fact, 87% of houses and 93% of condos sold at or below list price in October. In fact, the average list price of a house is at $315,889 , which is down 2.7% from the same month last year. And we see a similar pictures in condominiums with the average sale price of $227,878 is down 2.8% from last year.
And for anyone wondering why luxury homes, those had like five, six, eight hundred thousand dollars and more take so long to sell. Winnipeg‘s market really is between the 200 and 400 thousand Dollar range, where 60 percent of total single family home sales occurred this month. This limitation is even more pronounced in condominiums, where 51 percent of all sales occurred between one $150,000 and $250,000.
The big question is what kind of market are we in? We’ll give you an idea mid August. We had 1,905 houses for sale in Winnipeg. This morning, that being November 10th, we had just over 1600. So that’s three hundred fewer listings in Winnipeg as opposed to August. Listings are slowing down. But if you can still find one right now is a great time to buy. Don’t wait till spring.
Speaking of spring, I just read a great piece in MortgageBrokerNews.ca, where half the economists polled believe that the Bank of Canada will have a rate cut at the end of December or early into January. Great news for the spring market.
Are you looking to buy a house or a condo in Winnipeg? Work with the agent who takes the time to explain the process to you, guiding you through every step for service beyond the sale. Book your home buying consultation with Bo Kauffmann of Remax performance today. Bo knows real estate.
Market Update for Winnipeg in September 2019
Here is a short video summation of Winnipeg‘s real estate market this month
Transcript:[00:00:00] September caps off a strong third quarter in Winnipeg‘s real estate market. The third quarter of 2019 ended up being the strongest quarter of market activity on record. [00:00:13] September’s 1211 sales were a 16 percent increase over last year and only four sales short of the best September on record, which was in 2016. [00:00:23] Making things a little easier for buyers is the fact that this September saw a 10 percent increase in new listings coming to the market when compared to last year. This helps to keep prices in check. The average single family home sold for 325,000 dollars in change which is less than 1 percent increase over last year.
Winnipeg REALTORS® stats for October 2018
Winnipeg REALTORS® stats for February 2018
Overall sales in February 2018 were down about 11% when compared to Feb. of 2017. However the market improved from January this year, with numbers of listings, SOLDS, and average prices of houses and condos all up ☝︎, and the time it takes to sell these homes all down ☟.
Bo Kauffmann: Winnipeg Market on Feb.1st 2018
Bo Kauffmann: Winnipeg Market on Jan.1st 2018
For the full transcript, click on the down arrow
Over the month of December we’ve sold in Winnipeg a total of 251 houses. That’s all houses, stand alone detached attached duplex and mobile homes and we sold just 54 condos. These are likely the lowest numbers you’ll see all year long as new listings are going to come to market right now.
Most luxurious homes sold was for $890,000 dollars that was a brand new building in Island Lakes and listen to this: the most luxurious condo again another brand new build was 1.423 million dollars in Fort Garry.
Remax classified luxury homes to be over 500,000 dollars. And of those we sold a total of 13 houses and 3 condos. Again today is January 1st and we have a total of 784 houses for sale and a total of 439 condos on the market in Winnipeg. And again that’s likely going to be the lowest numbers you’ll see all year long as the spring market really is going to start in the next few weeks or a couple of months. This has been Bo Kauffmann Remax performance realty give me a call anytime 204-333-2202.
Winnipeg REALTORS Highlights for November 2017