Best November on Record with 900 Sales
Mild Weather, hosting the Grey Cup, or just having an excellent supply of listings to choose from with favourable mortgage rates, it was the first time November nudged over 900 sales in WinnipegRealtors 112-year history.
Listing supply continues to be elevated with 4,377 for sale at the end of November. This total is only a 5% increase over last year but is significantly more in percentage terms over some previous years when there were well under 3,000 properties for sale.
5 Months of MLS Supply Tilts Towards a Buyer's Market
The 5 Months of Mls supply available at this time tilts towards a buyer's market. As a result it puts more of a premium on sellers to do everything possible to place their property in its most positive light to sell given the stiff competition which exists.
Where do you Price your Property ?
Pricing your property is best based on supply, location and competition within your price range segment.
Higher levels of listings, in particularly in a property type where there are not as many sales each month, can put a downward pressure on pricing given the heightened competition for buyers.
This is why it is so important to talk with a realtor about your property type in the context of the current market.