Winnipeg’s Housing Market Levels Off to End 2014

Winnipeg’s Housing Market Levels Off to End 2014

House For SaleWinnipeg’s housing market levelled off to finish 2014.

According to new data from the Royal LePage House Price Survey and Market Survey Forecast, standard two-storey homes saw a modest increase of 2.2 percent year-over-year to $336,328. Meanwhile, detached bungalows saw a slight increase of 0.1 percent to $303,987 and standard condominiums saw a slight decrease of 0.2 percent to $207,709.

“We continue to see a trend of prices flattening across the board in Winnipeg,” said Rick Preston, broker and owner of Royal LePage Dynamic. “With supply at a current 10-year high, and a smaller pool of willing buyers, prices have softened across the city.”

Royal LePage predicts a slight 0.4 percent increase in prices in the Winnipeg market for 2015.

Nationally, average home prices showed modest to healthy year-over-year gains in most markets in the fourth quarter of 2014.