Judy Lindsay Team News

Real Estate Boom to End in 2016?

December 14th, 2016

The end of the year is just ahead and what a year we’ve had; it’s been a record year for sales in 2016, resting at 13,080 at the end of November, which ended up surpassing 2007’s record total of 13,079. The high number of sales is a growing trend throughout all of Canada, and we’ve seen a lot of rising and falling of the market. With the rise and fall of the economy and housing market comes a lot of stress and  those who are gearing up for a housing bubble mixed with a lot of speculation on how long this hot market will last. Luckily for us Winnipeggers nothing really seems to change; our climb is a slow one to the top and even with intense bidding wars years ago it was nothing compared to Toronto or Vancouver. Winnipeg has always seen a slow rise in temperature; 2-3% increase in average home prices is the norm here, staying on the same rough increase every year, even when Toronto is storming in at a projected increase of average home prices to 8% for the year 2017. Vancouver is projected to climb at a more balanced rate at an increase of 2% for the upcoming year. These two markets have been the hottest in Canada and the slow rise is a great change of pace those looking to get into the real estate market.

Not unlike Vancouver, Canada is forecasted to follow suit increasing at around the 2% mark. Winnipeg, as per usual, is heading towards the same range looking towards the New Year at a 3% increase over the 2016 market; average housing would then be projected to sit at $297,155. The estimated average home price in Winnipeg (2016) is $288,500, which has held steady over the years with only a 2.66% change between 2015 and 2016. Winnipeg continues to balance out, but the rest of Canada is looking towards a bright future and a slow burning real estate market. Our friends over in Alberta will be feeling more stable and comfortable than expected as the housing markets have stayed resilient even throughout all their ups and downs and bad luck. The lower oil prices will keep confidences impartial when it comes to real estate, but with a boost to the economy expected as a whole for the province (due to the approval of the Trans Mountain Pipeline) we will see this boosted as a result of a relatively stable market anticipated for 2017. 

The popularity of home ownership will continue to climb, especially when it comes to urban centres, as they will see a surge of demand throughout the next year and into the foreseeable future. Nearly half of Canadians plan to buy a home in the next 5-10 years, and a shift in lifestyle brings more interest in great amenities, cafés, restaurants and night-life, all within walking distance is bringing families closer and closer to city centres.

If you’ve any questions about the market in Winnipeg, how your home will fare in the New Year, or just simply aren’t sure of where to start, give me a call today at 204-925-2900 or visit our website judylindsay.com.



News Archive

How to Sell Your Home For Top Dollar
July 29th, 2020

Welcome Back Ask Allan
April 30th, 2020

CJOB Real Estate in Today World Interview
April 14th, 2020

Judy Lindsay Team Covid Response
March 30th, 2020

Notice - The Judy Lindsay Teams Response to Covid -19
March 25th, 2020

CJOB Interview
November 19th, 2019

Hal Anderson and Guaranteed Sold Program
November 13th, 2019

Condo sales propel August to a record month
September 13th, 2019

Investor/Home Seller Information Session
May 14th, 2019

First Time Buyer Seminar
March 28th, 2019

Top Agent Magazine Article
February 5th, 2019

Scott McGillivary and Judy Lindsay Team
January 25th, 2019

Winnipeg 2018 real estate statistics are in!
January 15th, 2019

Meet the Team In ISSUU
November 20th, 2018

Staging: A Sure-Fire way to Sell your Home
September 20th, 2017

Maintaining a Healthy Lawn
August 23rd, 2017

Pre-Approvals - Do you have all the Facts?
January 11th, 2017

Real Estate Boom to End in 2016?
December 14th, 2016

What is the Return on Investment when Renovating your Home
November 8th, 2016

How to Build a Fire Pit
September 29th, 2016

Tips to Prepare for Fall
September 29th, 2016

News Judy Lindsay
September 16th, 2016

September Market Update - August Statistics 2016
September 16th, 2016

How to Build a Hanging Day Bed
August 15th, 2016

August Market Update - July Statistics 2016
August 12th, 2016

Replacing Old Windows
July 27th, 2016

Severe Weather Patterns Brings New Beginnings for Infrastructure
July 18th, 2016

Home Decor Ideas: Summer Edition
July 15th, 2016

Buyer's or Seller's Market?
July 11th, 2016

June Market Update - May Statistics 2016
June 15th, 2016

New Idea: Housing Wealth Taxation?
May 27th, 2016

May Market Update - April Statistics 2016
May 12th, 2016

Outdoor Lighting: How to make your home light up
May 11th, 2016

5 Fresh Decor Ideas for Spring
May 11th, 2016

Rainwater Harvesting
May 4th, 2016

Spring Looks
March 23rd, 2016

Colours of the Year: 2016
March 23rd, 2016

March Market Update - February Statistics 2016
March 9th, 2016