Winnipeg Real Estate Market Update for April 2011
Each month, Winnipeg’s Real Estate Blog issues a Real Estate Market Update by taking a look at the previous month’s sales and listing stats on the MLS®. We report on the total numbers of homes sold in Winnipeg during the previous month, and then take a look at how many Winnipeg homes are available on the last day of that month. By combining the two factors, we get a good idea of which direction the Winnipeg Real Estate Market is heading…. into more of a Sellers market, or slowing down into a Buyers Market. See last month’s Winnipeg Real Estate Market Update.
I also separate the homes along the price line of $250,000, as homes below this price usually sell at a more brisk pace, while homes in the higher price ranges tend to take a little longer.
So, during the month of March 2011, a total of 688 homes of all types, price ranges and styles sold in Winnipeg. At the end of the month, there were a total of 665 homes available. By diving one number into the other, we arrive at a figure of “Months of Inventory” left on the market. This is like saying “If no more homes were listed in Winnipeg after today, how long would it take before all remaining homes are sold”. Obviously, the lower the number, the hotter the real estate market. The Winnipeg real estate market remains one of the hottest in the country, with just under 1 month (4 weeks) of inventory remaining. By comparison some parts of Calgary are measuring inventory in terms of YEARS…. as in 1.4 YEARS of inventory.
We then take a look at homes below $250,000 and found that during the month of March, we sold 409 homes in this price range, and at the end of the month, a total of 315 such homes were available, meaning an even tighter market at 3 WEEKS of inventory.
Finally we can report that sales of homes OVER $250,000 have also picked up pace. We sold 279 such homes during March, and have 350 homes available on April 1st….. meaning a ‘glut’ of inventory sitting at 1.25 months.
Here is a look at the video version of Winnipeg Real Estate Market Update.
If you’re interested in the Winnipeg Real Estate Market, whether to buy or sell, a house or a condo, call or email me [email protected] anytime.
- Winnipeg Real Estate Blog’s most popular posts over the past month (bokauffmann.com)