When is the best time to buy a home in Winnipeg?

Buying a home in Winnipeg has been a challenge for any buyer looking for a good home in a good neighborhood for the last 10+ years. This is a result of many factors. The economy has been one of the strongest in Canada, a very low unemployment rate, low interest rates, many immigrants settling in Winnipeg, and the ability to purchase with a zero down payment. Put all of these together and it lends itself to a large pool of buyers throughout the year. The busiest time of year continues to be the 1^st 5 months of the year followed by a resurgence towards the end of the year. If you want to purchase a home for under $350,000, you will find yourself competing against the majority of the buyers in Winnipeg. Approx 78% of all the homes purchased in Winnipeg in 2011 was for under $350,000. 5% up to $100,000, 10% for $100-$150,000, 18% for $150-200,000, 23% for $200-$250,000, 17% $250-$300,000 and 10% for $300-$350,000. The rest of the market is active as well and it is not uncommon to hear of homes in the low $400’s going into the upper $400’s as a result of a bid war on a great home in a desirable neighborhood. How to you win this war? Take account of all the variables, identify the best plan of action and dive in. In real estate the ideal situation is to buy low and sell high, this may  not be possible at this time unless you are looking for a fixer upper in a transitional area. The best time of year is typically the summer as people turn their interests to other things; only problem in the summer is there less inventory. Starting with a good understanding of the dynamics of the marketplace, a good understanding of your financial capabilities and a strong plan of action when the right house becomes available will get it done! Not all agents are alike! With some good strategic bargaining, strong paperwork and negotiation skills, it is possible to win and buy your home; you simply need a good trainer in your corner. For a complimentary strategic consultation with no obligation, send us an email to realty21@mts.net and let’s get started on securing the home of your dreams. A High Level of Service is Not Expensive..It’s Priceless