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Spring Market Update – 2017

The spring market is upon us! Spring is a time of transition in many ways including in the real estate market. After being cooped up all winter, its seems as though when spring hits people are ready for a change and that leads to a spike in listings and sales.

For reasons unexplained, Winkler typically has a faster start to the year than Morden does as you’ll see in the stats below. However, generally later in the year Morden’s market gains momentum.

Resale Home Prices Continue To Climb!

The Winkler market has been hot in 2017. With the cost of building new homes increasing steadily, used home prices closely follow suit. We’ve had multiple properties sell over list price this year and in one case, a record breaking $15,500 over asking price! In addition to building code changes, lot prices have also jumped in price; contributing to the climbing costs of building a home.

Morden’s demand for more affordable home options has increased since last year resulting in a lower average sale price.

The following chart shows how fast the average home sells in each price range. The price ranges with the fewest days on the market generally have more potential buyers and fewer homes available.

If you have any questions about anything discussed in this post, or are interested in buying or selling a property visit our website or give us a call!

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*Statistic provided by MLS