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Winnipeg Real Estate Market Update for February 2011

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Each month, Winnipeg’s Real Estate Blog issues a Real Estate Market Update by taking a look at the previous month’s sales and listing stats on the MLS®.   We report on the total numbers of homes sold in Winnipeg during the previous month, and then take a look at how many Winnipeg homes are available on the last day of that month.  By combining the two factors, we get a good idea of which direction the Winnipeg Real Estate Market is heading….  into more of a Sellers market, or slowing down into a Buyers Market.  See last month’s Winnipeg Real Estate Market Update.

I also separate the homes along the price line of $250,000, as homes below this price usually sell at a more brisk pace, while homes in the higher price ranges tend to take a little longer.

So, during the month of January 2011, a total of 276 homes of all types, price ranges and styles sold in Winnipeg.  At the end of the month, there were a total of 526 homes available. By diving one number into the other, we arrive at a figure of “Months of Inventory” left on the market.  This is like saying  “If no more homes were listed in Winnipeg after today, how long would it take before all remaining homes are sold”.  Obviously, the lower the number, the hotter the real estate market.  The Winnipeg real estate market remains one of the hottest in the country, with just under 1.9 months (8 weeks) of inventory remaining.  By comparison some parts of Calgary are measuring inventory in terms of YEARS….  as in 1.4 YEARS of inventory.

We then take a look at homes below $250,000 and found that during the month of January, we sold 174 homes in this price range, and at the end of the month, a total of 287 such homes were available, meaning an even tighter market at 1.65 months of inventory.

Finally we can report that sales of homes OVER $250,000 have slowed a little, at least by Winnipeg Real Estate standards.  We sold 102 such homes during January, and have 239 homes available on January 31st…..  meaning a ‘glut’ of inventory sitting at 2.34 months.

For a look at the video version of this report, go to

If you’re interested in the Winnipeg Real Estate Market, whether to buy or sell, a house or a condo, call or email me boknowshomes@gmail.com anytime.

Related articles

• Winnipeg Real Estate Market Update for January 2011 (bokauffmann.com)
• Housing Shortage in Winnipeg: Buckle up for spring 2011 (bokauffmann.com)
• Is Winnipeg’s Real Estate Market a ‘Bubble’? (bokauffmann.com)
• What’s the best time to list a home for sale in Winnipeg? (bokauffmann.com)
• Winnipeg Real Estate Blog: What’s this Blog about? (bokauffmann.com)

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Tagged as: buying, Market Update, market value, mls, winnipeg real estate, Winnipeg Real Estate Market Update

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