Median home price in Winnipeg falls to $ 374,000 – Winnipeg | The Canadian News

It’s cooling down a bit, but the Winnipeg housing market is still red hot.

Just over 1,500 listings changed hands last month in the Winnipeg region, according to the latest report.

Peter Squire is vice president of external relations and market intelligence for the Winnipeg Regional Real Estate Board and says typical sales for September are around 1,200.

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Squire attributes the market boom to out-of-town sales, which don’t appear to be slowing down, accounting for 35 percent of sales last month.

“It can be between 30, 32, 33, so 35 percent is a high number. Clearly, we are seeing rural areas performing exceptionally well. As we indicated last year, rural really was history in 2020 and that helped us to our record increase in 2020 and it will certainly help us to our record year in 2021. “

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Not only are more out-of-town homes changing hands, but the median price of single-family homes is rising as well.

“We had a real increase in those months when we had more than 2,000 sales in both April and May. And that median price for single-family homes was $ 388,000, ”says Squire. “At the end of the third quarter, when I looked at those reports at the end of those three months, it was $ 374,000, so it changed a bit, and so far this year, we’re just under $ 380,000.”

Squire says that’s an increase of about 12 percent because the median price at the end of 2020 was $ 341,000.

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When it comes to condos, Kourosh Doustshenas, president of the Winnipeg Regional Real Estate Board, says the growing gap between homes and median condo prices makes condos “an even more affordable option for buyers. especially for first-time home buyers who don’t have the benefit. ” capital gains from the sale of your existing home. “

That is not to say that houses are not seized once they are put on the market.

According to Doustshenas, Whyte Ridge saw 12 homes sold in September and only one remaining in October, translating into “a 1,200 percent sales-to-asset ratio.”

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He says the Winnipeg regional market offers some of the most affordable home prices in the country and expects sales to pick up as we approach 2022.

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