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For September 2012, I take a closer look at the ?sales and listings in Winnipeg.? We segregate 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 monthly Winnipeg real estate market update will also report on?Condo Statistics in Winnipeg.
We include listings and sales inside Winnipeg, plus the bedroom communities of E/St Paul, and Headingley. ?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 things I discuss are ?Inventory Levels?.? We arrive at this figure by diving the currently available homes into the number-of-homes-sold in the past 31 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. ?So the lower the number, the tougher it is for buyers. ?As a guide, some cities in Canada measure inventory levels in many months, and in the U.S. they are talking about years. ?Winnipeg on the other hand, is generally measured in WEEKS?. ?so for example 0.9 months, or 1.3 months.
Entry Level Homes ($50,000 to $199,999)
This segment, along with the mid-range homes, remains the most active in the Winnipeg real estate market. ?Right now, we have 272 listings for sale in this price range, a slight increase from the previous months? numbers of 264.? During August, however, Winnipeg REALTORS? have also sold 186 homes in this price range (a slight increase from the 168 sold in the previous month), resulting in an inventory level drop to 1.46 months.? In other words, if NO ONE listed their home, it would take, on average, just over 6 weeks to run out of MLS? listings.
Mid-Range Homes ?($200,000 to $399,999)
This is the most active segment of the Winnipeg real estate market.? Currently we have 414 listings available, an increase from the previous month of 395. In the past 31 days, Winnipeg REALTORS? have sold 400 houses in this price range, (a slight drop ?from the previous months? 415 SOLD) resulting in approx. 4 weeks of inventory on the market. ? The market eased ever so slightly, going above the 1-month inventory level for the first time February.
Luxury Homes (over $400,000)
A decidedly slower segment of the Winnipeg real estate market are luxury homes, and activity in this segment has slowed even more during the month of August. ?However, when compared to other cities, even the luxury home market in Winnipeg is fairly hot.? We currently have 261 listings available in this price range, almost the same as the previous month. However, Winnipeg REALTORS? have sold just 53 homes in this range in the past month, resulting in an inventory levels remaining steady at 4.9 months. ?There may not be a better time to buy a luxury home this year.
Condominiums in Winnipeg
On September 1st, 2012, we have 281 Condos to choose from, ?while having sold only 90 units in the past month, marking inventory levels at around 3.1 months, no significant change from the previous months levels. ? Condos remain an excellent choice for the first time home buyer who wants to get into the real estate market, but perhaps needs or wants to, avoid bidding wars.
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.
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Winnipeg Real Estate Market InfoGraphic
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Real Estate Listing abbreviations: Terminology explained
feedproxy.google.comAugust 8, 2012 7:48:49 AM CDT
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Buyer Info,Latest Posts,Seller Info ??condo, Condominium, condos, house, mls, Real estate, real estate agents, selling A list of real estate listing abbreviations ? If you?re working with a REALTOR? in the search of a?new home, most likely you are receiving MLS? real estate listings via the new?Keystone Matrix? system. ?My buyers are always asking me [...]
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