Rhonda DAHMER
RE/MAX associates
1060 Mcphillips Street
Winnipeg, MB R2X 2K9
Phone: (204)989-9000 Mobile: (204)291-6924 Fax: (204)582-4751 Email Rhonda

Winnipeg began 2014 as a sellers market, but by the fall, an influx of inventory had shifted to a balanced market.
Towards the end of 2014, there was an abundance of choice for buyers.
If the trend continues Winnipeg will likely be a buyer's market in 2015.

Despite an increase in inventory, the average sale price for detached and condominium units rose modestly. The average sale price for a detached house rose to approximately $ 290,490 in 2014 from $ 282,894 in 2013, while the average sale price of condo units rose to approximately $ 236,639 from $ 227,511.

Prices are expected to remain flat in 2015; high inventory should keep prices stable, but likely will not reduce prices.

 

The CHMC's stricter lending criteria has had an impact on the first-time home buyer's market in Winnipeg.

Manitoba Land Transfer tax, whose rates were set in  the 1990's and haven't been adjusted for today's house prices, is a significant burden for these buyers as well. 

These two financial hurdles have made it difficult for the first-time home buyers to wnter Winnipeg's housing market in the past two years, and this is not expected to change in 2015.

Despite the Challanges, two key groups of first-time buyers are driving the market in Winnipeg. One of these is new immigrants, who tend to prioritize home ownership when choosing to invest their savings.

The other group is young two income couples who work in service industries, with federal goverment's plans to bring more immigrants to Winnipeg next year, the market should remain robust and sales are expected to increase.

Two Financial Hurdles for First-Time Home Buyers

Outlook is Positive

The Winnipeg Real Estate Market Outlook is generally positive. Our well diversified economy is steady ans no significant changes are expected in the coming year.

The return of our NHL team The Winnipeg Jets and the new Museum of Human Rights show that Winnipeg is becoming a destination city.