Unlike our summer temperatures as of late, the residential real estate market in Winnipeg appears to be cooling off early by comparison to 2015 at this time and the earlier spring market of this year.
In the Residential detached category, the number of sales are down when compared with July, 2016. There were 680 sales in the month of August, down from 770 in July. The days on market is holding at 26 days to sell, with the average sales price in this category down from a median price of $312,000.00 to $290,000.00.
Where Residential attached home sales are concerned, the numbers are almost identical to the month of July. August 2016 saw 33 sales in the residential attached category, with an average sales price of $ 222,000.00. Days to sell was 22, down ever so slightly from July’s 25.
Condominium sales in August in Winnipeg were up slightly from July numbers. There were 138 sales in August, up from July’s 124. Days to sell was basically the same at 48, (July was 47).
Where this year’s summer market seems to show cooling off is when compared to the month of August 2015. The number of residential detached sales were down over 25% in 2016 when compared to August number for 2015. August 2016 sales in this category were 680 and in the year prior they were 920. The condo market was down 15% from 160 sales in 2015 and 138 in 2016.
As always, please feel free to give Terie a call to discuss our Winnipeg market, and how to optimize your experience of buying or selling in Winnipeg. 204-987-9808 or 1-877-778-3388