Though the Winnipeg area saw an increase in real estate listings in November, it also saw a decline in sales compared to the year before.
This is according to new numbers from the Winnipeg Regional Real Estate Board, which found that this is the 17th consecutive month that active MLS listings in the city saw percentage gains over the previous year.
According to the board, active listings are up nine per cent from last November and are seven per cent above the five-year average.
As for sales, they are down slightly but remain close to last November. The Winnipeg Regional Real Estate Board is reporting that sales of all property types are down two per cent from the same time last year, and 16 per cent below the five-year average.
The total dollar volume of sales last month decreased by four per cent compared to last November and was 13 per cent below the five-year average.
“We’re catching up from the lack of inventory that we had during the pandemic,” said Rena Prefontaine, president of the Winnipeg Regional Real Estate Board. “So we’re actually just replenishing the stock that we used to have. For us, we feel it’s kind of a healthy amount of inventory that is out there. There are some homes still selling in a competitive multiple offer situation, but there are other homes that are not. So we still feel it’s quite a bit of a balanced budget, but maybe slightly leaning a little bit towards a buyer’s market.”
Prefontaine said the market typically slows down in November due to the weather, but adds people should not fret to put their house on the market if they’re looking to sell or buy.
“Even though our inventory is up, there’s actually less competition out there right now,” she said.
When looking at property types, there were 566 residential-detached sales across the board’s market region last month. Of these sales, 379 were in Winnipeg and 187 were outside of Winnipeg.
Winnipeg’s West Kildonan neighbourhood saw the most detached home sales in November, followed by Sargent Park. Outside of Winnipeg, Steinbach and the Morden-Winkler area saw the most houses sold.
In terms of prices, the average price for a detached home decreased by one per cent compared to last year, but is up three per cent over the five-year average. The most active price range for residential-detached homes was $325,000 to $349,999.
CONDOS AND ATTACHED HOMES
According to the Winnipeg Regional Real Estate Board, there were 120 condo sales across its region last month and 62 residential attached home sales. A total of 99 of the condos and 44 of the attached homes were sold in Winnipeg, with the rest being sold outside the city.
The average price for a condo last month was eight per cent below last year and equal to the five-year average. The most active price range was from $150,000 to $174,999, with Osborne Village seeing the highest number of condo sales.
For attached homes, the average price was four per cent above last November and eight per cent higher than the five-year average.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
