This past month the Winnipeg real estate market changed quicker than the end of our summer season. Home sales for the month of August were down twelve percent and new listings coming onto the real estate market were up by five percent. Let’s see how the North Kildonan real estate market compared, by the numbers:
Active listings, August 2014: 42
Active listings, August 2013: 37
Synopsis: Homes available in North Kildonan was up by thirteen and a half percent in August. This percentage is still below the Winnipeg real estate market where there is an increase by twenty-six percent of available homes compared to last year.
New listings for the month, August 2014: 19
New listings for the month, August 2013: 17
Homes sold for the month, August 2014: 26
Homes sold for the month, August 2013: 22
Synopsis: North Kildonan real estate continues to perform very well with an increase of homes sold by eighteen percent even though available homes listed for sale increased by twelve percent. Short term the overall real estate activity is becoming more of a balanced market in Winnipeg. The North Kildonan neighborhood continues to out pace the overall real estate market.
Sales to listing ratio, August 2014: 63%
Sales to listing ratio, August 2013: 68%
Homes sold above asking price, August 2014: 4
Homes sold above asking price, August 2013: 9
Average days to sell a home, August 2014: 28
Average days to sell a home, August 2014: 19
Synopsis: This is where there is a big change in the North Kildonan real estate market. Only fifteen percent of the homes that did sell received an offer over the original asking price. Last year forty percent of the homes sold in North Kildonan had sold above the asking price. Moving forward into autumn the real estate market pricing of your home is as important as the decision is of selling your home.
Average sales price, August 2014: $290,715.00
Average sales price, August 2013: $302,827.00
Lowest sales price for the month: 222 Cheriton Avenue
Highest sales price for the month: 23 Diamond Street
Expert opinion: I had expected a better real estate market in August for North Kildonan. Although the market itself was very good, there is a short-term trend developing for the North Kildonan neighborhood. Active home inventory is up. New listings for the month are up. Homes sold for the month are up. Sales to listing inventory is down. Homes sold above asking price is down. It now takes sixty percent longer to sell a home in North Kildonan. All key indications the real estate market in North Kildonan, for those paying attention, is making a shift to a balanced market should this recent trend continue in our months ahead.
If you are planning on selling, buying, or investing in real estate, then hire the services of a real estate professional. Should you wish to stay current on the ever-changing North Kildonan real estate market then please opt to follow this blog page. For your real estate needs call Rolf Hitzer with Royal Lepage Top Producers at 204-989-6900. Or, email email@example.com.