Home prices tripled over past two decades: Century 21

Murray McNeill. Winnipeg Free Press from 10/25/2017

The average selling price of a home in Winnipeg has more than tripled over the past two decades, according to a new study by Century 21 Canada.

The firm said Monday it recently asked Century 21 agents across the country to look at how the price per square foot (PPSF) of typical home in their market has changed over the past 20 years.

In the case of Winnipeg, they looked at the change in price for a detached bungalow that’s between 1000 and 1050 square feet in size. It found the PPSF went from $79.75 in 1997 to $267 in 2017, for an increase of 235%.

“Winnipeg has proven to be a very stable market over the past two decades”, said Brian Rushton, executive vice-president of Century 21 Canada.

Rushton said although the Winnipeg market is very active – he noted the Canadian Real Estate Board is forecasting a record number of transactions this year – prices here are still very affordable compared to some other Canadian cities.

Reference: Retrieved from Murray McNeill. Winnipeg Free Press from 10/25/2017.