Welcome to Winnipeg’s Real Estate Market update for March 2022
Here we are at the beginning of March, and let’s take a look at the housing market first, then the condo market.
On March 1st, we had a total of 366 houses available for sale. That’s up a little from the 306 we had a month ago, but well below 577 on March 1st last year.
The main segment of activity continues to be in the 250k to 500k range where we sold 236 during Feb., and only have 157 available on March 1st.
The next busiest price range is from 500 to 1 million, with 129 sales during Feb.
A lot of listings start out in the 400 K range, but bidding drives their sold price up over 500K.
I just worked with a couple who bought their first home. It took 7 attempts to finally have our offer accepted. The home they bought was listed at $320K and they had to bid 95K over that. It’s tough to be a buyer right now.
Winnipeg’s condo market is not spared from this hectic activity. We currently have only 211 condos available, compared to 431 last year and 561 the year before.
Sales of 146 units in Feb. is an increase from the previous month, and significantly higher than the 86 sold in Feb. last year.
So in summary, Winnipeg continues to be a very strong seller’s market, so if you’re thinking of selling a house or condo, NOW is the time to call to get ready to sell. Call me anytime for a free market analysis.