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Winnipeg’s Housing Market Levels Off to End 2014

January 14, 2015 9:35 AM | News

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.