While nationally, home prices are expected to increase by only 3.5% on average, Manitoba will see an increase of nearly double that….. at 6.7%. Also, nationally, the number-of-sales is set to DECLINE by 1.2%, while Manitoba will see a healthy 2% INCREASE. This is a case where, I feel, a “little knowledge is dangerous”, as they say. Buyers who listen to the National News reports of “The Bubble is Bursting”, get a false sense that prices are dropping, competition is easing, when in fact the opposite is true in Winnipeg.
I recently listed a nice family home in an upscale neighbourhod for $359,900 and received multiple offers…. in the middle of JULY. Bidding wars are far from over.
Winnipeg REALTORS® report that during the month of July, there were 1195 sales in total, with 1587 new listings coming to market. 34% of all sales were between the $100,000 to $200,000 price range, while a whopping 39% were in the $200K to $300K range.
Compared to last year, July ‘09, our market was a little faster as well. This July, Condos sold in an average of 31 days, as opposed to last years 33 days. Detached homes sold in an average of 28 days, compared with 30 days in July ‘09.
To see the complete press release, go to Bo Kauffmann's Real Estate Blog at http://bokauffmann.com/
For a look at Bo Kauffmann's video market update, go to http://www.youtube.com/
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Award winning Real Estate Agent in Winnipeg. Works with home buyers in the search of their dream home, and excels as a "Listing Agent", with marketing plans which are second-to-none. Homes are featured in magazines, newspapers, internet and Television.