How is the Real Estate Market in Kleefeld Manitoba? July 2020

Hello, Kleefeld, Stephen Olyniuk here with RE/MAX Performance Realty, and the MLS numbers are in for the month of July. Let's take a look. So, sale-wise, 3 sales in July, total of 9 active listings. MOI, months of inventory, showing 3. So, that means anywhere 1 to 4 is a seller's market. We're still in a seller's market. Average selling price way up at 391,000. Days on the market, 24.

 

Take a closer look. Last year, we had 10 sales in July. Number’s off a little bit. Don't let that throw you. There were a lot of the $200,000 new builds that sold. I think there were 5 of them. So really, it's not far off of where we were last year. Part of the reason I would say we're down as well is we don't have the inventory. There was a lot more homes on the market in Kleefeld last year. So, we're down there, but selling price is way up. Like, I was saying 237 was the selling price last year, and that's because there were a lot of those $200,000 houses sold, really dropped it down. This year, 391,000 is the average selling price. And we'll see a spike in that next year because a certain somebody sold a $600,000 house in Kleefeld. So yeah, watch for that next month.

 

So, I'll go through, like I always, do months of inventory. What is a month of inventory? It's a metric to determine the speed of the liquidity of a real estate market. It’s a tool to help you determine the strength of the market and impacts how you would price your home. How do you figure out months of inventory? Basically, you divided the number of active listings at the end of the month by the number of sales and that same month. So, pretend you had 90 listings, 33 sales, 90 into 33, 2.73, that gives at 2.73 months of inventory.

 

So, what do the numbers mean? 1 to 4 months, like I was saying is a seller's market. We're at 3 months of inventory right now; strong seller's market. 5 to 6 is a balanced market. Plus 7 is a buyer’s market. So, if you have any real estate questions at all, don't hesitate, reach out to us. If there's a video you'd like to see any information on real estate, reach out to me. We'll put something together for you. And we... if you like it, like us on Facebook, go like our YouTube page. We really appreciate it. We appreciate your comments. Thanks for watching. Have a great day, and we'll see in the neighborhood.