Market Updates

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Winnipeg Real Estate Update Feb. 2012

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For February 2012, as I do every month, I take a closer look at the  Winnipeg real estate market.  I’ve divided the housing market along 3 different price ranges, from ‘entry level’ homes (between $50,000 and $199,999), to ‘mid-range homes’ (between $200,000 and $399,999)  and finally Winnipeg real estate luxury homes (above $400,000).  This Winnipeg real estate market update will also report on Condo Statistics in Winnipeg.

For this report, we will look at all houses and condos inside the Winnipeg real estate zone, with E.St. Paul and Headingley added as well.  This Winnipeg real estate market update does NOT include vacant lots, but DOES include duplexes, mobile homes, detached and attached homes and townhouses.

One of the statistics we are providing is “Inventory Levels”.  We arrive at this figure by diving the currently available homes into the number-of-homes-sold in the past 30 days.  A really hot market will report inventory levels at 1 to 2 months, whereas a ‘Buyers Market” will show inventory levels around 8 to 12 months and more.

Entry Level Homes ($50,000 to $199,999)

This segment, along with the mid-range homes, is the most active in the Winnipeg real estate market.  Right now, Winnipeg has only 168 available listings for sale in this price range, a slight increase from the previous months’ numbers of 143.  During the past month, Winnipeg REALTORS® have also sold 95 homes in this price range (down from 127 in the previous month), resulting in an inventory level of 1.76 months.  In other words, if NO ONE listed their home, it would take, on average, about 4 weeks to run out of homes-for-sale.  This is actually an increase over the month of December, which is due to slower sales in January 2012.

Mid-Range Homes  ($200,000 to $399,999)

This is the most active segment of the Winnipeg real estate market.  Currently we have 195 listings available, also a slight increase from last months’ 170 available homes. In the past 31 days, we have sold 150 houses in this price range, (a drop from the previous month of 175 SOLD) resulting in 1.3 months of inventory on the market.  This is an even tighter market than last month, mostly a result of fewer listings in this price range.

Luxury Homes (over $400,000)

A decidedly slower segment of the Winnipeg real estate market are luxury homes, and over the past month, it slowed down even more.  However, when compared to other cities, even the luxury home market in Winnipeg is fairly hot.  We currently have 174 listings available in this price range, a sizable increase from last months’ 133. Winnipeg REALTORS® have sold just 29 homes in this range in the past 31 days, resulting in an inventory level of 6 months, as you can see, a significantly different number than the levels in lower-priced homes.

Condominiums in Winnipeg

While condos are definitely NOT for everyone, here are 7 reasons why you might consider one.  Currently, we have only 174 Condos to choose from,  while having sold 56 units in the past month, making inventory levels at around 3.1 months, a slight increase from January levels.
If you are looking to buy a house, or buy a condo, or thinking of selling, contact me via cell at 333-2202 or email me anytime.  I’d love to help.

Here is the graphic look at Winnipeg Real Estate Market

Related articles

• January 2012 Winnipeg Real Estate Market Update (bokauffmann.com)
• Winnipeg spring 2012: A great time to sell real estate? (bokauffmann.com)
• Real Estate Market Forecast for Winnipeg in spring of 2012 (bokauffmann.com)

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