Winnipeg's Real Estate Market bucks the national trend
Winnipeg's real estate market remained hot thruout October, bucking the national trend of housing sales. Bo Kauffmann of Remax Performance Realty reports steady sales into November.
The average days on market for detached homes was now 29 days, while condominiums sold in an average of 26 days.
Houses, especially in the $200,000 to $250,000 range are practically flying off the shelves. Winnipeg's relatively low inventory, with less than 1,000 available houses for sale, is helping to keep the pressure on buyers. A recent study revealed that Winnipeg's rental market is also the tightest in the entire country, which further helps to drive sales: People need a place to live, and since there are very few rental options available, houses and condominiums of all types and styles are selling quickly.
Bo Kauffmann of Remax Performance Realty issues monthly market updates, reporting on listings and sales stats in 3 different price categories for houses, as well as sales of condominiums. "Houses in the $200,000 to $400,000 range are selling extremely well,' Bo reports. "We currently have only 380 homes available in this price range, and in the past 30 days have sold 355, meaning we have only about a month's worth of inventory available."
Condominiums are very popular as well, both with the first-time buyer as well as with investors. Winnipeg's rental market is the tightest in the entire country, with vacancy rates below 1%. This creates great opportunities for investors, who are snapping up smaller houses, side-by-sides and condominiums to turn them into rental properties. To see all Remax Condo listings in Winnipeg, go to http://winnipeghomefinder.com/
Another popular price range is the $150,000 to $200,000, but it's getting tougher to find housing in that range. Bo reports that he recently sold a vacant lot in the south end for $170,000. Side-by sides are routinely selling for over $200,000 now.
For an indepth look at Bo Kauffmann's November Market Update, go to http://bokauffmann.com/
Bo also issues shorter video market snapshots, giving some quick facts about the hot market. Watch this short 2-minute video:
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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.