Covid-19 and the effects on the Real Estate market in Winnipeg

Winnipeg has always seemed an anomaly in the real estate market. Affordable prices, availability of good cash flowing assets and investments, and a somewhat unbothered stability in the country wide marketplace. 

So what’s happening in the new now... this, the pandemic of 2020?

 

My personal experience has been one of opportunity, as proven in many of the listings we’ve sold this last few weeks. Sold well over asking price, and in great time. As well as the many active buyer’s we are currently advising. But why? 

 

Simple. 

 

Interest rates are historically low, driving some serious savings for any potential buyers. And... good product is always good. A great home, priced correctly, and marketed well, will always do well, in any economic climate. 

 

Has the real estate market slowed up to this point? 

 

In volume, yes... In quality, no.

 

Many active and qualified buyers are looking for good product hoping to take advantage of the current interest rates and relaxed financial stress testing offered by the Bank of Canada, they just need the right home to purchase. If you have a good home for them to purchase, priced correctly and marketed well, then certainly there are buyers available to purchase it. 

 

As it stands, in regards to stability and market conditions, Winnipeg is once again well out performing the other major cities across Canada. 

 

It’s been my experience that we as a city are not afraid to work a little harder, and a little longer, and to work together, to get what we want. Maybe it’s the long prairie winters that have toughened us up... but once again, thus far, we’ve been proven to be a little tougher than the rest. Something Winnipeg has always been known for...

 

... I don’t think that’s something to change, anytime soon.


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