Now, What does that mean when Buying and Selling???
The actual number of units sold are less than what we had seen in 2009, but dollar volume was a different story. It is up 10% in comparison to 2009 and while sales do drop off closer to the winter months, there is no doubt another record will be set.
The average home price has risen again from $100,000 to $242,000, while condos prices have soared even higher.
The reason for the significant increase in dollar volume is the strength of the Manitoba economy. This is why we cannot compare the Winnipeg market to any other major city in Canada. It is important when forecasting interest rates and housing prices of when you want to buy or sell, that we look at Winnipeg alone and not specifically Canada as a whole.
This tells us that it is still a great time to buy. Look at it this way... the price of that same home you were considering buying last year, would have most likely increased in value by the market increase. Statistics have shown us the increase in pricing over the past 7 years. This doesn't even include any other value increases that you could have done on the home yourself.
The total listings for the year has also increased significantly (Over a 12% increase)which also shows the strength and confidence the public has for selling their home with a Realtor on MLS. View this info by clicking this link winnipegrealtors.ca