Throughout the entire city in October there had been twenty-five fewer homes that had sold for the month. For Winnipeg the month represented a sales decline of 2.6 %. Let’s see how home sales performed for the North Kildonan neighbourhood last month, by the numbers:
Active listings, October 2015: 58
Active listings, October 2014: 32
New listings, October 2015: 28
New listings, October 2014: 17
Comment: Housing inventory continues to be much higher in North Kildonan when compared to the real estate market across the other Winnipeg districts. October was a buyer’s market for North Kildonan and if this trend continues over the months ahead there could be a negative impact on home values for the area.
Homes sold for the month, 2015: 20
Homes sold for the month, 2014: 26
Sales to list ratio, October 2015: 35%
Sales to list ratio, October 2014: 81%
Homes sold above asking price, October 2015: 1
Homes sold above asking price, October 2014: 5
Comment: Home sales was down by 30% when compared to only 2.6% for the overall Winnipeg housing sales activity in North Kildonan. The statistic for homes sold versus the amount of homes listed for sale dropped well below the 50/50 ratio. October was a buyers market for the North Kildonan neighbourhood.
Average sales price, October 2015: $358,500.00
Average sales price, October 2014: $294,700.00
Average days to sell a home, 2015: 40
Average days to sell a home, 2014: 25
Lowest sales price for the month: 179 Summerfield Way
Highest sales price for the month: 313 Saddleridge Lane
Expert opinion: The headline for the real estate market in North Kildonan reads: Housing inventory is up substantially for North Kildonan. Add in the reality of fewer homes have sold this year versus last year; it has become a buyers market for the North Kildonan real estate market. I expect this trend will continue as we near the end of 2015 and into the new year. If you have been thinking of buying a home in North Kildonan now is a really good time to put your plans into action to take advantage of the tighter real estate market.
For a complimentary consultation when planning to sell, buy, or invest in real estate, then please call Rolf Hitzer at Royal LePage Top Producers, 204-989-6900. Or email, email@example.com.