In November, while residential-detached or single family home sales of 610 were down ever so modestly at less than 2% or just 11 sales. Condominiums had one of its best Novembers on record at 122 sales, a 10% increase over November 2017.
Price range sales activity in November for these two main property types shows how both compared to large housing markets in the country are more affordable and within the local market how condominiums offer less expensive options for buyers.
For residential-detached sales, all price ranges from $150,000 to $399,999 were in double-digit percentages with the $250,000 to $299,999 highest at 19%. Together they captured 70% of total residential-detached sales.
On the other hand, condominium price ranges which were all in double-digit percentages went from $100,000 to $299,999 with the $200,000 to $249,999 price range most active at 26%. They represented 81% of total sales.
In terms of how long it took on average to sell these properties in November, residential-detached properties was 38 days, one week quicker than condominiums. The highest home and condominium sale prices were $1,600,000 and $644,255 respectively.
“Taking stock of your year should include reaching out to your REALTOR® to ascertain where you are as a homeowner or one looking to buy in the next year,” said Marina R. James, CEO of WinnipegREALTORS®. “REALTORS® know the market and can advise you accordingly.”