Each month, Winnipeg REALTORS® releases a summary of sales and listing stats for house and condo sales in the south-eastern area of Manitoba, including Winnipeg, Steinbach and other smaller centres and towns.
Winnipeg REALTORS® Market Update for Feb. 2016
In this episode of Winnipeg’s Real Estate Podcast, we will summarize the Winnipeg REALTORS® Press Release for the Feb. 2016 market update.
Keeping in mind that this report goes beyond just Winnipeg. It covers the entire marketing area for Winnipeg REALTORS® which includes the south east corner of Manitoba, including Steinbach, and all the smaller towns in that area.
Best February EVER
Total sales for the month of February 2016 were pegged at 816 homes, a 21% increase over last year. Dollar Volume was $222 million, with is up 29% over last year. Listings are up just 2% over last Feb. So listings are nearly equal, but sales are up…. a good sign for home sellers, not so great for buyers.
Sale Prices about the same as 2015
Residential sale prices in Feb. were a little over $294,000 on average, which was nearly identical to the average of late-2015 sales. Condo average sale prices were just below the $236,000 average of 2015.
High Demand Price Ranges
The most active price ranges for residential homes was in the $250-300K range, which recorded 22% of the sales. The next most popular price range was in the 200-250 range, which accounted for %15 of sales. The average time it took to sell a home during this month was 37 days, compared to 34 days in around Feb. 2015. (Yes, I realize that February only had 29 days)
How about Condos
The most popular price range of condos was between $150-200K, which accounted for 28% of the sales. The second most popular range was between $200-250K, with 20% of all sales. Average days on market for condos was 48 days, the same as Feb 2015.
Record setting February seems to indicate that Winnipeg’s market remains strong and steady, with the Conference Board of Canada predicting that Winnipeg’s economy will outperform most other Canadian Cities this year.
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