It’s a seller’s Canada property market

6 November 2009

Now is a good time to be selling property in Winnipeg, the capital and largest city of Manitoba, in southern Canada, according to a local market analyst, cited by Winnipeg Free Press.

Following the recent surge for properties in Canada, including Winnipeg, Jeff Powell, Canada Mortgage and Housing Corp.'s senior market analyst for Manitoba, told a Winnipeg housing forum yesterday, that there has now been a shift from a balanced market to a seller's market.

Peter Squire, the Winnipeg Realtors residential market analyst, agreed in an interview that the city's market is back in a seller's mode. “But it's not across the board by any means,” he said.

Squire said that homes located in the more desirable neighbourhoods and in the more popular price ranges (£55,000 to £150,000) were attracting the greatest demand.

However, despite the recent market recover, neither Squire or Powell expect the market to return to the boom days recorded in 2007, when around 85% of homes in the city were attracting multiple offers, and often selling for well in excess of the asking prices.

"That would be difficult to see," Powell said. "Those were pretty unusual circumstances."

See Also:  Canada (14), Winnipeg (1), Marc Da-Silva (269)