Winnipeg Realtors 2014 Market Forecast

Those at the WinnipegREALTORS® 2014 forecast breakfast heard that that it should be another decent year for buyers and sellers in the resale home market. 

Home selling prices are predicted to climb in 2014, although between a rate of 2-4% which is lower than 2013. The average selling price for 2013 increased 5% to 284,000 from 2012's average selling price of 269,900.The sales volume for 2013 was slightly lower (12,924 units) than 2012 however the dollar volume grew to a record $3.36 billion, a 5% increase from 2012.

Condo units were the big news at the forecast meeting. A larger offering and more people looking for this housing style increased the number of units sold up 13% to 1759 and an average selling price increased 9%. One of the reasons for the bump in average selling prices is the number of newer condos selling at a higher price point. A further 6-8% increase is predicted for the condo average selling price in 2014.

For more information on the forecast and data from 2013, feel free to contact me.