Winnipeg Real Estate Market Forecast 2013 - Part 2.

Six months ago I had penned my opinion on the Winnipeg real estate market for 2013.  This had been based on current subtle market trends from the Winnipeg Multiple Listing Service information.  You can read this article from the following link, http://hitzerblog.blogspot.ca/2013/01/winnipeg-real-estate-market-forecast.html.  Well here we are mid year and I felt compelled to write a follow-up article on our 2013 Winnipeg real estate market since January's story.

To June 30, 2013, there have been 6,431 properties that have sold.  This compares to 6,921 for the same six month period in 2012.  This is a decline of seven percent.  New listing inventory has reached 10,677 to June 30, 2013, compared to 10,337 to the end of June, 2012.  This is a rise of three percent year to year.  The sales to listing ratio, homes that have sold versus the amount of homes that had entered the real estate market, is sixty percent year-to-date.  The change from 2013 to 2012 is a decline of ten percent.  as predicted, the Winnipeg real estate market in 2013 continues to have a slight increase in listing inventory and decrease in buyer activity.

What does this information really mean for the Winnipeg real estate market?  What impact will this have on a homeowner and their property equity?  What significance will this have on today's homebuyer?  Should this real estate market trend continue the way it has now for almost twenty-four months; how will this influence the Winnipeg real estate market in 2014?  Are we at the doorstep of a housing bubble in Winnipeg where it has happened in other major Canadian cities?  How could this possibly happen when interest rates remain at historical lows coupled with our confident local economy?  If you are plan on selling a home, what should you do?  If you are planning on buying a house, what should you do?  Is real estate property in Winnipeg still a safe investment?

There are certainly many questions to consider concerning the Winnipeg real estate market.  To be frank, I wish I could foretell the future and provide you with the answers to the real estate information you seek.  Instead, I will offer my opinion on what I do know about our Winnipeg real estate market in 2013 and what your best strategy should be if you plan on selling, buying, or investing in our local real estate market.

We can all agree the Winnipeg real estate market is always on the move, and because of this fact, we can always be assured our Winnipeg real estate market continues to change.  We now know four out of ten properties do not sell when a homeowner decides to sell their home.  On average, a home on the Winnipeg real estate market listed for sale with a real estate agent will take twenty-two days to sell.  If you have a valid reason to sell your property in Winnipeg you do not want to be one of the four out of ten homes that does not sell.  How can you change your circumstance when selling your home?

Most people believe they are an expert in real estate even though they may be a plumber, doctor, police officer, homemaker, I can go on and on.  I'll break it to you gently, you are not a real estate expert.   In fact, far from it.  When working with a real estate agent that prides themselves in market knowledge, ethical and honest conduct, proven marketing strategies, effective communication and genuine care about your real estate investment, then and only then are you working with a real estate expert.  There is so much more to a lawn sign and several real estate advertisements.  listen to a real estate expert because they work hard to serve your best interest while protecting you at the same time.

I continue to remain confident about our Winnipeg real estate market in 2013 even though our real estate market changes and evolves continuously.  What hasn't changed is when you hire a real estate expert.  He or she will provide you with market facts to help you make sound, logical and proper financial decisions on your real estate investment and your desire to move forward with your lifestyle decisions.

If you enjoy this article please follow my blog, or my Facebook business page, Rolf Hitzer Real Estate.  Your comments are welcome.  I can also be reached at 1-204-960-2159, or email me at hitzer@aol.com