Winnipeg Real Estate Market Update for July 2011

July 10, 2011 - PRLog -- 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.  Currently we have 278 listings available in this price range.  During the past 30 days, Winnipeg REALTORS® have also sold and equal number (278) of homes in this price range, resulting in an inventory level of 1 month.  In other words, if NO ONE listed their home, it would take, on average, one month 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 358 listings available (well down from last months 437), and in the past 30 days, we have sold 522 houses in this price range ( a slight increase over last month), resulting in 0.68 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.  We currently have 249 listings available in this price range, and have sold just 69 homes in this range in the past 30 days.  The inventory level sits at 3.6 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 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 243 Condos to choose from (down from June which had 281), while having sold 119 in the past month (also down from June's 134), making inventory levels at around 2 months.

For a full graphic market update, go to http://bokauffmann.com/2011/07/winnipeg-real-estate-marke...

http://www.youtube.com/watch?v=aLHyYi1bWps



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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.