What Canada’s average home price will get you in Manitoba
The housing market has been booming over the last couple of years in Canada and it appears that trend is continuing.
According to the Canadian Real Estate Association (CREA), the latest data shows the average home price in April was $746,146.
In Manitoba, the average price sits at around $372,000, which is up from April 2021 when the average price was around $328,000, according to Manitoba Real Estate Association (MREA).
But, what could the average Canadian home price buy you in Manitoba?
Here are a few examples of what is currently on the market for around that price.
85 MCKAY ROAD, ST. CLEMENTS, MANITOBA - $759,900
This home is close to the Perimeter Highway and features four bedrooms and four bathrooms. The home was originally built in 1990 and spans 2,460 square feet.
1803 390 ASSINIBOINE AVENUE, WINNIPEG - $764,411
Right in the heart of Downtown Winnipeg, this apartment has three bedrooms and two bathrooms. The building is still brand new as it was built in 2019 and the living space is over 1,400 square feet.
84 COACH HILL ROAD WINNIPEG - $748,000
This home was built in 2011 and is located in Bridgwater Forest. It features five bedrooms and four bathrooms and the 2,236-square-foot home also features a wet bar.
24 BERRY HILL ROAD WINNIPEG - $768,000
This two-storey home in Prairie Pointe has four bedrooms and four bathrooms. It has an attached garage and includes a "low maintenance yard." It is also fairly new as it was built in 2019 and spans 1,787 square feet.
562 PRAIRIE ACRES BAY, GRANDE POINTE, MANITOBA - $769,900
This home is on a two-acre lot and the home itself is more than 1,650 square feet. It was built in 2012 and has five bedrooms and two bathrooms. The home has a partially finished lower level and a large rec room.
WHAT MANITOBA’S HOUSING MARKET LOOKS LIKE
Julie Friesen, president of the MREA, said houses in the province continue to sell rapidly and the average price of a home has increased.
“We have noticed month over month the numbers have decreased and this can a result in the change of interest rates and a bit of buyer fatigue out there, due to low inventory. There simply is more buyers than homes,” said Friesen.
Despite the decrease, she said the average home price has gone up 13 per cent, which she links to a supply shortage.
“We are encouraging people to broaden their horizons. Don’t rule anything out. If condos or some rural communities weren’t an option before, we encourage people to look at all options.”
Looking at May projections, Friesen expects a bit of a cool down on the market as supply continues to not be as available compared to the number of ready buyers.
“While inventory has not been able to recover, we are hopeful more properties may come to the market. Again, that might boil down to the weather improving as well. We have noticed that with the flood, some parts of the province, those were some limiting factors. So I believe that is only going to get better.”
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