Housing prices up slightly: Re/Max report

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This article was published 16/04/2015 (3296 days ago), so information in it may no longer be current.

House prices were up one per cent in Winnipeg in the first quarter according to Re/Max 2015 Spring Market Trends Report.

The national firm reported sales remained on par with the previous year, despite about 25 per cent more inventory on the market.

Re/Max is forecasting that sales volumes and average prices will remain stable year-over-year and are expected to remain so throughout 2015.

The Winnipeg market is relatively calm compared to an otherwise stormy market across the country.

For instance in Vancouver and Toronto low inventory drove prices up at the end of the first quarter by seven and eight per cent respectively.

Meanwhile in cities affected by declining oil prices like Calgary, Regina and St, John’s prices fell this quarter by two, six and four per cent respectively.

The Re/Max report said in Winnipeg demand continues to be stable, with consistent sales year-over-year.

As well the diverse condo market is drawing a range of buyers and a growing luxury market consisting primarily of new builds has seen an increase in properties in the $1 million and up range.

The average residential home price in Winnipeg at the end of the first quarter was $284,000 compared to $282,000 last year.