Winnipeg Real Estate Market Forecast, 2013.

Ten years ago there had been a subtle change each month in the Winnipeg real estate market that went unnoticed, for the most part.  For twenty-four months there was a decrease in new listing inventory.  The decline was only one percent, two percent and at times ranging from three to five percent.  These percentages were faint enough that most real estate professionals didn't notice it, or had any concern with the slight change.

In hindsight, this brought us to a real estate market where there was a shortage of homes listed for sale.  Whenever the real estate market is unbalanced there will be side-effects.  For Winnipeg homeowners it was a great change as home equity began and continued to rise while buyer demand remained high and bidding over the asking price became the norm.  This is called a sellers market created by a short supply of homes versus the amount of motivated buyers.

On January 7, 2013, the Winnipeg Realtors had a press release on the Winnipeg real estate market statistics and sales data for 2012.  It was a good news story on how our real estate market had performed and how the Winnipeg housing market was the second best real estate activity since the beginning of tracking organized real estate information.  More than thirteen thousand unit sales recorded on the Multiple Listing Service coupled with a new dollar volume record with over three billion in property values had traded ownership.

As always, there is a story within the story.  Moving forward into early 2013 there are facts about our real estate market in Winnipeg we should pay attention too if you are planning on selling your home this year.

Listing inventory for the calendar year in 2012 had increased just shy of two percent versus 2011.  Doesn't sound like much, does it?  When compared to the best real estate market ever, listing inventory was up fifteen percent compared to the current record year in 2007.  For those paying attention to this factual information on property listings entering the Winnipeg real estate market will see it is only a minor change, but this variance is profound as our local market has taught us in the past.

Another glaring change that may be going unnoticed is what the sales-to-listing numbers finished at in 2012.  The perception from homeowners when they placed their home on the Winnipeg real estate market in 2012 was an offer over asking price with multiple bids was going to happen.  Was it that easy?  What is even worse than this ill perceived market expectation of the homeowner was the emotional free fall when no multiple offers happened on offer day above the asking price, or no offer at all to consider.

Sales-to-listing statistics is how many homes actually sell versus how many homes were placed onto the market for sale.  In 2012 the sales-to-listing ratio was sixty-nine percent.  This is very strong and is the reason we currently do have a sellers market in Winnipeg.  However, three of every ten properties that went to the real estate market did not sell.

In, 2007, again the best Winnipeg real estate market on record; the sales-to-list ratio was a touch over eighty percent.  In other words, fourteen percent was the subtle change of properties that didn't sell last year.  Interesting to note was the most active price range in 2012 was between $150,000.00 to $300,000.00 representing fifty-seven percent of all real estate transactions.  What does this all really mean for Winnipeg homeowners going into 2013?  Have we climaxed with our home equity and are we about to burst the Winnipeg real estate bubble?

When I stare into my crystal ball the fog is dense.  I wish I could predict the outcome of the Winnipeg real estate market for 2013.  What I can do is provide you with my opinion based on the subtle real estate market changes and how this will effect you should you decide to sell a property this year. 

If your property is above three hundred thousand and you wish to sell, pricing your home to market conditions is as important as your decision to sell your property.  The same verdict applies if your property is valued below one hundred and fifty thousand.  Even in the busiest selling/buying price range in the Winnipeg real estate market; the strategy you adopt to enter the real estate market is a financial choice you should make with factual information versus a real estate value prediction.

I am confident in our real estate environment for 2013 and our local economy.  Assuming interest rates remain low and our rental market stays close to zero vacancy we will continue to see home equity gains this year.  Listen to your real estate agent when you discuss the market price and the strategy that you will be recommended.  A true professional will provide you with the current market facts because we care and we believe you need to make financial decisions you can rely and plan on.

If you like my article, please follow my blog and my Facebook business page, Rolf Hitzer Real Estate.  I can be reached at 1-204-960-2159 or email at hitzer@aol.com.