Winnipeg housing market will stay strong: Re/Max
September 21, 2020
The Winnipeg housing market is currently balanced and is expected to remain balanced this year due to reasonable prices and an ample supply of inventory, according to an outlook from Re/Max Canada.
In July, the average Winnipeg home price was $284,000—up 5 per cent from a year earlier—but still among the lowest price among major Canadian cities.
Currently there are four months of inventory on the Winnipeg market and this should remain the same throughout the year, Re/Max said, noting that more new Canadians will be buying in the city.
The hottest Winnipeg neighborhood in 2020 is Amber Gates, given new development in the area that includes a school and commercial properties, Re/Max suggests. Kensington Homes is among the builders in the area.
From a national perspective, Re/Max anticipates a leveling out of highs and lows further into 2020. Healthy price increases are expected, with an estimated 3.7 per cent increase in the average national residential sales price.
A recent Leger survey conducted by Re/Max found more 51 per cent of Canadians are considering buying a property in the next five years.