Real Estate Market Quickie report for May 2020

3 minutes

Recent sales stories point to the fact that right now, the spring market is starting.

For more real estate info, check my blog at https://blog.winnipeghomefinder.com

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Looking after and reporting on historic stats is easy…..  extrapolating information from those stats, and predicting the future is harder. Unless

A few very loud and obvious facts jump out, making it easier to interpret.

For example:

2 weeks ago I listed a bungaow in the west st james area for $250,000.

It ended up with 45 showings and 15 offers, and sold for $30grand over asking.

But one example does not make a trend

 

So this past week, I listed another bungalow, this one in north kildonan, for $260K.

46 showings, 10 offers and sold for 23K above asking.

So 91 showings, and 25 offers on these two listings.

 

Seeing a trend? Two different parts of the city, but both homes are smack in the middle of Winnipeg’s most popular price range category….

Why is this happening?

Well, lets look at available listings.

Last year, this time, we had 1635 homes for sale in Winnipeg.

Today, that number is 1273.  That is 22% fewer listings than the same time last year.

So if you’re thinking of selling your Winnipeg home, NOW is the perfect time. Listings are down, but buyer activity  (91 showings, 25 offers on two homes) is up.


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Start listening to Introductory Episode of 'Bo Knows Real Estate'
2:12
Start listening to Introductory Episode of 'Bo Knows Real Estate'
2:12