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Fall Market Report – 2018
All statistics are based on Residential and Condominium listings only. Stats are provided by the MLS (Multiple Listing Service).
The real estate market has been steady in both Winkler and Morden in 2018. Though the number of sales in Winkler has decreased since last year, the Average Sale Price of homes and the Days on the Market shows that the demand to purchase homes is still there.
Winkler sales are 20% lower in 2018 compared to 2017, primarily due to limited listings, yet demand remains strong. The highest demand is in the price range between $180,000 – $240,000. Strength in the Morden market is shown by a 9% increase in sales in 2018.
Average days on the market is a direct reflection of the demand to purchase homes. Due to the limited number of listings in Winkler, homes have been selling faster in 2018.
Homes in Morden are seeing more time on the market (average of 76 days) in 2018, due to a large inventory of homes on the market.
Average Sale Price displays that the desirable price range of $240,000 or under has been very strong. Morden has seen a significant increase of 9% in the average sale price due to numerous sales in a higher price bracket. Winkler has also seen an increase of 4% with average sale price being $233,552.
Even with the cost of construction increasing this year, the region still has more building permits compared to last year. The MSTW (Morden – Stanley – Thompson – Winkler) planning district stats show that permits rose from 47 and a value of $6 million last September to 60 permits worth $8 million this September.
With the exponential growth of businesses in Winkler and Morden in 2018, the entire region can expect a continued demand in real estate, as businesses continue to draw more people to the area.