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Fall Market Report – 2019
*All statistics are based on Residential and Condominium listings only. Stats are provided by the MLS (Multiple Listing Service).+
Fall is here, and we record another active year for the Real Estate market in the Pembina Valley. There has been an increase in sales and average sale price for both Winkler and Morden. Along with the average Days on the Market, it reveals that there is continued demand for housing the Pembina Valley.
2019 sales in Winkler have increased by almost 6% compared to 2018. In Morden, the sales have remained steady, with 167 in 2019 versus 165 in 2018.
Average DOM (Days on the Market) 2019 vs. 2018
January 1st – September 30th
Average days on the market is a direct reflection of the demand to purchase homes. In 2018, Winkler experienced fewer listings, causing homes to sell faster when they were offered for sale. While this was still the case in the start of 2019, there has been more homes offered for sale in Winkler in 2019 overall, causing the Days on the Market to rise slightly. All averages remain very similar to 2018. While Winkler is up slightly from the 2018 DOM, Morden homes are selling slightly quicker than in 2018.
Morden has only a slight increase in average sale price due to a continuation of many new affordable homes being built for first time home buyers such as townhomes, condos, etc.
Winkler’s average sale price has increased approximately 5% over the last year. This can partly be attributed to more single-family homes being built and fewer multi-family, condos and townhomes.