PRLog - June 3, 2011 - WINNIPEG, Manitoba -- Each month, Bo Kauffmann, REALTOR® with Remax Performance Realty in Winnipeg, produces a Real Estate Market Update for Winnipeg's hot real estate market. This is the first month with a new format. In this report, you will find that he has 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, you 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 in the report is "Inventory Levels". This is a figure calculated by dividing the currently available homes into the number-of-homes-
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. Currently there are 328 listings available in this price range. During the past 30 days, Winnipeg REALTORS® have sold 233 homes in this price range, resulting in an inventory level of 1.4 months.
Mid-Range Houses ($200,000 to $399,999)
This is a very active segment of the Winnipeg real estate market. Currently there are 437 listings available, and in the past 30 days, REALTORS® have sold 514 houses in this price range, resulting in 0.85 month of inventory on the market. Being under 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. 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. There are currently 214 listings available in this price range, and REALTORS® sold 98 homes in this range in the past 30 days. The inventory level sits at 2.2 months.
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 Bo recommends 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, they do offer a unique lifestyle and advantages. Currently, there are 281 Condos to choose from, while having sold 134 in the past month, making inventory levels at around 2.1 months.
This month also marks the first time that this information is available in an infographic, by going here http://bokauffmann.com/
If you're thinking of buying or selling, a house or a condo in Winnipeg, please call Bo Kauffmann of Remax Performance Realty at 204-333-2202.