Judy Lindsay Team & Market Updates
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What You Need To Know About Today’s Real Estate Market
What is going on in the Winnipeg housing market right now or perhaps what a better question is, is what's going on right now that you can use to your advantage?
Hey, I'm Allan Asplin with The Judy Lindsay Team and right now as we sit, it is the middle of October here in Winnipeg, we're still seeing a very strong housing market. Actually, prices are up 11% over this time last year and what does that mean?
Well, last year you could buy an average house in Winnipeg for $320,000, this year it's going to cost you $350,000 so that's a $30,000 difference. So, for a lot of 1st time buyers or even if you're already in the market that's $30,000 that you would have to save up after tax in order to buy a house now this year or you'd left that much on the table because you didn't buy last year! So, the big thing right now is to:
- Be active in the market if you're thinking of buying.
- If you're thinking of selling don't forget that the same principles that apply in a downward market still apply in a robust market like we're seeing which means you still need strong marketing!
- You still have to have really good advertising to get the right buyers in the door.
We just had a situation where we had a house that should have sold for about $240,000, went to auction for $223,000 and didn't sell so that just shows you that marketing absolutely makes a big difference on your house so don't think you can just throw it on the market with either any agent with no advertising or do-it-yourself and expect the same result. You still need strong marketing.