6 min

July Condo Market Winnipeg 2020 Winnipeg Real Estate Podcast

    • Investing

Thinking of becoming a home owner but want to avoid the bidding wars?  Condos offer an excellent option and opportunity to own your own place.
For more real estate info, check my blog at https://blog.winnipeghomefinder.com

Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to install our iOS App.
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Check my videos on Youtube


[00:00:00.240] What's Winnipeg condo market in July 2020? Coming up next. 
[00:00:23.230] For those of you who have listened to or watched my housing market report for July 2020 in Winnipeg, you already know that the housing market is super hot. It's a super hot sellers market. Tough for buyers. Well, condos are kind of the opposite.
[00:00:38.430] Condos are and remain and have always been for the last five years a real strong buyer's market. It's a great opportunity for you to get into real estate, to become a homeowner if you don't want to endure the bidding wars of houses. You can find a really nice condo even for under 250,000 dollars. But Condos in the 250 plus range are superstrong buyer's market. They can sit there for several months. You won't likely get into a bidding war if you buy one and you can get a pretty good deal on these days.
[00:01:09.420] So let's take a look at what the market is like as an overview.
[00:01:12.570] Last year for this time period, for a month, we sold 82 condos in Winnipeg. Last month, we sold 78. And then in June, we sold 108. So it's not only faster than last month, but it outperforms last year as well.  As for the most expensive condo it did hit one million dollars in the North Henderson Highway area. And you're going to see that the condo market this month actually outperforms not only last month, but last year as well.
[00:01:40.200] Let's take a look at the numbers of available condos for sale as of July 1st. We can see that last year,  under two hundred and fifty thousand dollars.  Last year we had 513 for sale. On June 1st, we had 354. And July 1st it was 369. So it's slightly more than last month, but it's way down from last year.
[00:02:02.350] Same thing for condos of two hundred and fifty thousand dollars. +, all the way up to as high as they go. And they do go for a million dollars in Winnipeg. That's pretty, pretty comparable to last year. Last year we had 323. This this month we had 302, which is virtually identical to the previous month as well. So that's remained fairly stable.
[00:02:21.390] But now looking at the sales, you're going to see that this month has outperformed the previous month and even the previous year condos under 250,000 dollars last year.
[00:02:30.930] This time period, we sold 35. This month, we sold fifty five. And for more luxurious condos, 250,000 dollars and up last year we sold 47. This year we sold 53. So even when compared to last year, which was a fairly active year, condo sales are up this year over last. What does all this mean? I'll explain when I come back.
[00:03:07.230] So with math formula, we combine the sale statistics and the available listing statistics and we come up with something that works out to be the days of inventory. This is basically answering the question that if nobody else listed their condo going forward, how long would it take to sell everything that's out there? And of course, the lower the number, the hotter the market. If we take a look at condos under 250,000 dollars last year, that number was 455 days.
[00:03:36.420] In other words, it would take nearly a year and a half to sell everything that's out there. This month, that number has dropped to 201. So that's twice as fast as last year. Condos over 250,000 dollars. Last year that number was 213. This year it's 171. Again, a huge improvement over last year. Now, keep in mind, 201 and 171, . those are still really high numbers.
[00:04:03.210] When you compare them to houses, if yo

Thinking of becoming a home owner but want to avoid the bidding wars?  Condos offer an excellent option and opportunity to own your own place.
For more real estate info, check my blog at https://blog.winnipeghomefinder.com

Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to install our iOS App.
For your Android Devices, click here to install our Android App.

Check my videos on Youtube


[00:00:00.240] What's Winnipeg condo market in July 2020? Coming up next. 
[00:00:23.230] For those of you who have listened to or watched my housing market report for July 2020 in Winnipeg, you already know that the housing market is super hot. It's a super hot sellers market. Tough for buyers. Well, condos are kind of the opposite.
[00:00:38.430] Condos are and remain and have always been for the last five years a real strong buyer's market. It's a great opportunity for you to get into real estate, to become a homeowner if you don't want to endure the bidding wars of houses. You can find a really nice condo even for under 250,000 dollars. But Condos in the 250 plus range are superstrong buyer's market. They can sit there for several months. You won't likely get into a bidding war if you buy one and you can get a pretty good deal on these days.
[00:01:09.420] So let's take a look at what the market is like as an overview.
[00:01:12.570] Last year for this time period, for a month, we sold 82 condos in Winnipeg. Last month, we sold 78. And then in June, we sold 108. So it's not only faster than last month, but it outperforms last year as well.  As for the most expensive condo it did hit one million dollars in the North Henderson Highway area. And you're going to see that the condo market this month actually outperforms not only last month, but last year as well.
[00:01:40.200] Let's take a look at the numbers of available condos for sale as of July 1st. We can see that last year,  under two hundred and fifty thousand dollars.  Last year we had 513 for sale. On June 1st, we had 354. And July 1st it was 369. So it's slightly more than last month, but it's way down from last year.
[00:02:02.350] Same thing for condos of two hundred and fifty thousand dollars. +, all the way up to as high as they go. And they do go for a million dollars in Winnipeg. That's pretty, pretty comparable to last year. Last year we had 323. This this month we had 302, which is virtually identical to the previous month as well. So that's remained fairly stable.
[00:02:21.390] But now looking at the sales, you're going to see that this month has outperformed the previous month and even the previous year condos under 250,000 dollars last year.
[00:02:30.930] This time period, we sold 35. This month, we sold fifty five. And for more luxurious condos, 250,000 dollars and up last year we sold 47. This year we sold 53. So even when compared to last year, which was a fairly active year, condo sales are up this year over last. What does all this mean? I'll explain when I come back.
[00:03:07.230] So with math formula, we combine the sale statistics and the available listing statistics and we come up with something that works out to be the days of inventory. This is basically answering the question that if nobody else listed their condo going forward, how long would it take to sell everything that's out there? And of course, the lower the number, the hotter the market. If we take a look at condos under 250,000 dollars last year, that number was 455 days.
[00:03:36.420] In other words, it would take nearly a year and a half to sell everything that's out there. This month, that number has dropped to 201. So that's twice as fast as last year. Condos over 250,000 dollars. Last year that number was 213. This year it's 171. Again, a huge improvement over last year. Now, keep in mind, 201 and 171, . those are still really high numbers.
[00:04:03.210] When you compare them to houses, if yo

6 min