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Bo Knows Real Estate - Bo Kauffmann - REALTOR EPISODE 31, 2nd July 2020
Winnipeg Housing Market July 2020
00:00:00 00:05:39

Winnipeg Housing Market July 2020

Update on the real estate market for Winnipeg. Housing sales and listings stats for July 2020

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

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Let's take a look at the real estate market conditions for July 2020 in Winnipeg.

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 Well, hello, Winnipeg, it's Bo Kauffmann Remax Performance Realty, and it's July 2nd, 2020. And I take a look back at the sales and listings which happened over the last month or so, all of June.

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And you're going to see that we are in a super hot sellers market right now. And for example, last year for the month, we sold 786 houses in Winnipeg. This year we sold 861. So that alone is 10 percent more sales. But you're going to see that the listings for actually way down, which makes it an even hotter market. Similar story with condos last year and this time period, we sold 82 condos and Winnipeg this year we sold 108.

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So that's about 20 percent more or even 25 percent more. As for the market highlights for June, the most expensive house sold was 1.45 million in South Headingley. In fact, during the month, there were four houses sold for over a million dollars. And the most expensive condo hit one million dollars. And that's in the North Henderson Highway area. And as I mentioned earlier, the number of available houses substantially down quite a bit from last year.

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So let's take a look at available houses in Winnipeg. Last year this time, we had 1,866. And today we got 1,232. That's that's a huge drop. That's about a 35 percent drop in listings available for the buyers to pick from breaking that down among the different price ranges for houses under two hundred and fifty thousand. Last year we had 486 available this month, virtually the same as last month, 265 available in that price range.

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The mid-range homes, 250 to 500 thousand dollars. Last year we had 934. This month, we have 584 way down. So. And it's just about 10 more than last month. Luxury homes last year. 446 available. This month, 384. Again, a big drop over last year. Now the available listings are down, but sales are keeping up, or actually better than last year in most of these categories.

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Under two hundred and fifty thousand dollar homes last year, in a time period of June, we sold 203. This year, 199. virtually the same. Quarter million to half a million dollar homes last year, we sold 504. During June this year 570.

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And luxury homes as well. Last year we sold 79 in that time period, this year, 92. If you've been listening to my real estate reports over the past few years, you know, I put those numbers, that is the sales and the listings, together. And I come up with a quotient I called days of inventory that is kind of giving a number to how hot the market is. So let's take a look at houses under 250thousand dollars. You can see that maximum would be about 120 days. In fact, an average market would be around 90 days or so. Last year we were at 74. And this year, right now, this month, we're at 40 days. That is super, super hot sellers market.

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Houses for 250 to 500 thousand dollars are in a similar predicament. Maximum is 120 days. Average would be around 90 or so. Last year, 57. This year 31. If you've got a house in the 250 to 350, 375 range and it shows half decent, it's going to be gone in a few days.

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Luxury homes over half a million dollars, you know, a maximum about 400 days. We usually see markets around 220, 250 days. Last year, 175. This month, 125 days for luxury homes. That is a very, very hot. And the last thing I want to take a look at is the seller confidence. How many people are confident in selling their house and listing it right now? Last year this time, we had 1,409 people listed their home in this period. Last month we were just shy of 11 hundred.

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And this month we did creep up a little bit. 1,300 is still one hundred less than last year. It seems like the market right now is made up of a lot of buyers, but not a lot of listings to choose from.

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I hope you've enjoyed this housing market report for July 2020. And Winnipeg. I do a separate condominium market report. As hot as the housing market is, Condos do offer a great opportunity for buyers who want to get into the housing market who want to own their own property, but don't want to deal with so many bidding wars. So if you're thinking of buying your first home, a condo might be an option for you. Check that report as well.

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And as you may know, I work with buyers and sellers, houses and condos in Winnipeg. So if you're looking to buy or sell either one house or condo, give me a shout anytime. That's Bo Kauffmann Remax Performance Realty 204-333-2202.