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Winnipeg Real Estate Market Report for September 2011
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Each month I produce a Real Estate Market Update for Winnipeg’s hot real estate market. I’ve segmented 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 ‘luxury homes’ (above $400,000). This real estate market update will also report on Condo Statistics in Winnipeg.
For this report, we will look at all houses and condos inside Winnipeg, with E.St. Paul and Headingley added as well. This 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 reporting 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 Houses ($50,000 to $199,999)
Winnipeg’s real estate market is driven by sales in this category, as well as the mid-range homes. Right now, Winnipeg has 315 available listings for sale in this price range. During the past 31 days, Winnipeg REALTORS® have also sold 235 homes in this price range, resulting in an inventory level of 1.35 month. In other words, if NO ONE listed their home, it would take, on average, about 4 to 5 weeks to run out of homes-for-sale.
Mid-Range Houses ($200,000 to $399,999)
This is a very active segment of our real estate market. Currently we have 368 listings available, and in the past 31 days, we have sold 352 houses in this price range ( a significant drop over last month), resulting in 1.05 months of inventory on the market. Being right around 1 month, this is the most active segment of Winnipeg’s Real Estate Market.
Luxury Houses (over $400,000)
A decidedly slower segment of our market are luxury homes, and over the past month, it slowed down even more. At least when compared to the above two categories. However, when compared to other cities, even the luxury home market in Winnipeg is fairly hot. We currently have 214 listings available in this price range, and have sold just 58 homes in this range in the past 31 days. The inventory level sits at 3.7 months, a substantial increase (and slowdown) over the past month.
Condominiums in Winnipeg
When compared to the entry level and mid-range houses, this category will seem to be in a ‘Buyers Market’. One reason I recommend anyone who is looking for their first home, to seriously consider investing in a condo. With a slightly slower sales pace, buyers often have the ability to place conditions into their offers, such as ‘subject to financing’ etc . While condos are definitely NOT for everyone, here are 7 reasons why you might consider one. Currently, we have only 210 Condos to choose from, while having sold 123 in the past month, making inventory levels at around 1.7 months.
Real Estate Market Graphic
Winnipeg Real Estate in August 2011: Buyers Market?
bokauffmann.com Is Winnipeg experiencing a (short) buyers market right now? With over 900 homes for sale, you might think so…
Home Staging quick tip #2: Curb Appeal
Improving curb appeal very important step in home staging. Houses and Condos in Winnipeg sell faster if proper home staging is used. Real Estate Tip.
Publish Date: 08/26/2011 9:06
http://bokauffmann.com/2011/08/home-staging-quick-tip-2-curb-appeal/
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