Winnipeg Market Report November 2024
11 December 2024
What is the most common advice that agents give their clients in December and also what you should really know if you're thinking of selling your house in December but first, what happened in the Winnipeg Real Estate Market in November. In November in Winnipeg, we saw sales stay almost exactly the same over last year up .5 % and prices up a staggering 12%. In condos, we saw sales down 10.6% and prices up 7.7%. As you can see the market and Winnipeg continues to be strong because of lack of supply of houses we're seeing that really good increase in overall pricing and this is expected to continue into 2025. Now what most agents tell their clients in December is to take their houses off the market and bring them back in January where they can get a new MLS number, a 2025 MLS number, so it looks fresh to market. Now the only problem with that is that Real Estate is and always has been about supply and demand meaning that as houses come off the market there's less supply which means there's greater demand. It's really not quite as simple as that and that's why you have to work closely with your Realtor to ensure that you are going to market at the right time and the right price.
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As a Realtor the No. 1 thing I would never do when selling my house in the Summer. But first, what happened in the Winnipeg Real Estate Market in June? In June in Winnipeg we saw the average price of a single family detached house go up 12.5% over last year. We saw sales however, decrease 3.4% In condos we saw the average price increase 6.3% and sales were down 24.6% As you can see, the market in Winnipeg continues to be really strong. We're still seeing lots of bidding wars, increase in pricing and increase in sales. Now, the one thing I would never do if I was selling in the Summer, I wouldn't underprice my house. The reason is even though in July and August we still see lots of sales we don't see the same kind of intense demand that we see in March, April, May and June which means that if you underprice your house you may not get the same expectation of a high bidding war that you would have seen early in the year just due to the lack of demand because there's a lot more inventory on the market. www.JudyLindsay.com 204.925.2900
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One of the biggest red flags I see when hiring an agent is agents that are very quick to reduce their commission. If they're quick to reduce the commission in front of you to make the deal what do you think that's going to happen when it comes time to negotiate the price on your house? Out there in the market right now there's 3% Realty, 2% Realty, 1% Realty or even do it free and post it online but it is really just a race to the bottom and what you really want to be looking at is what kind of value is the agent going to be bringing to make sure I net the most out of my sale. www.JudyLindsay.com 204.925.2900
I got a call from a client who is gonna lose their house. It was a really unfortunate situation they had some health issues and because of that they failed to make their mortgage payments and they called me and we were able to help them out and I want to share the story because I feel a lot of people get stuck in situations they don't know where to turn. Simply, they called us we put an offer on their house we allowed them to stay there and rent it back from us and now here we are five years later and their financial situation has improved, and they've been able to buy the house back off us. And their family is still in their family house Everything is perfect, they love us they're very thankful that we could help them out and if you know anybody who's in this situation and doesn't know what to do best they can do is call us and hopefully we can help them too. www.JudyLindsay.com 204.925.2900
What is the best thing about owning a house in Winnipeg? But first what happened in the Winnipeg real estate market in May？ In May in Winnipeg we saw the average price of a single family detached house increase 10.2% however sales were down 4.9% in condos we saw sales down 42% and the average price increase 1% as expected the numbers continue to be very strong here in Winnipeg now the best part about having a house in Winnipeg the market is always consistent right now here a lot of stories coming out of Toronto and Vancouver people losing hundred thousand $200,000 underwater on properties they bought two three years ago and that's a big hit for a lot of people especially if you're going in with only five or 10% down even if you're putting any money down that's a lot of money to lose. Here Winnipeg over last 25 years we've seen the market continuously go slowly, but rise and so if you're looking to invest in real estate it's a great market to be in and if you're just owning a house here it's a great market to be in because you don't have to worry about those big swings up or down. www.JudyLindsay.com 204.925.2900
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