Meet Hanover's Young Inventors!

HSD's first-ever Invention Convention will be held on Monday, April 23 at CMS. Learn More...

2016 was a record year for single-family home sales throughout the Winnipeg Realtors Market, which includes Steinbach. And if the first six months of this year are any indication, 2017 could be a repeat.

Peter Squire is Market Analyst with Multiple Listing Service. He says through June 30th last year there were 245 single family home sales in Steinbach. Through that same period this year, there have been 249 sales.

2017 07 house1Last year at this time, the average selling price for a house was $268,281. While this year, it is $272,000.

One statistic that has seen a sharp drop over the last 12 months is the number of listings. Squire says there have been 452 so far this year, compared to 538 during the same period one year earlier. But he says that is the case across the board and not surprising.

"That is because of the new stress test that requires anyone taking out an insured mortgage to qualify for the higher Bank of Canada rate, which sits at 4.64 percent," he explains.

According to Squire, there has been a big increase in listings over the last few years and so the market is still well supplied. But he says the single family home market has tightened up a bit. There is now a three month supply instead of four months, which has been the case in previous years. He thinks Steinbach is still in relatively good shape.

And Squire says it is not surprising that sales remain strong even though listings are way down.

"Because the aggregate demand is continuing, the economy is good, people are employed, people are obviously taking advantage of some of the lowest rates, historic rates in our history," he notes. "All those factors haven't changed in 2017."

Instead of buying some of the higher priced single family homes, Squire suggests some people are seeking alternatives, such as affordable condominiums. In fact, there have been 28 condo sales in Steinbach so far in 2017, compared to 19 during the same period one year earlier. The average selling price has been $183,000, down slightly from last year.

Squire says the second quarter is historically the busiest in terms of sales.

"If we don't have a good second quarter, we're not going to have an outstanding year," he says.

More Local News

Providence Announces Construction Plans For New Dormitory

Providence University College has announced its plans for the construction of a new dorm facility on campus. This announcement comes nearly a year after their men’s dorm, Bergen Hall, was completely…

Mayor Talks Gritty Streets And Derelict Vehicles At Open Door

The Mayor for Steinbach says residents have noticed how much sand and gravel there is on streets and sidewalks now that it's spring. Earlier this week, city crews began a street sweeping job that is…

Meet Hanover's Young Inventors!

HSD's first-ever Invention Convention will be held on Monday, April 23 at CMS. Learn More...

2016 05 LaBroquerie fire

La Broquerie Fire Chief Concerned About False Alarms

A situation that came up Thursday evening has caused the Fire Chief in La Broquerie to put out a request to residents. Al Nadeau says it relates to false alarms for fires. La Broquerie Fire Chief Al…
2018 04 kel toews

People Strongly Urged Not To Burn This Weekend

Steinbach's Fire Chief is pleading with people to not do any burning this weekend. Kel Toews says it's just far too dry. Fire Chief Kel Toews"All indications are that it's going to be a dry weekend…

Niverville Heritage Holdings Reports A Year of Learning And Adapting

Niverville Heritage Holdings is making the shift from physical growth to organizational growth. That was the message from the executive team of Niverville Heritage Holdings as they gave their annual…

Piney C Of C Working To Keep Young People From Leaving

The Piney Chamber of Commerce is planting seeds in the minds of young people in the hope that they will consider careers in the municipality. The chamber held its first-ever career symposium last…

Brush Fire South of Steinbach

The Steinbach Fire Department battled a brush fire south-east of Steinbach Thursday afternoon. Fire Chief Kel Toews says they were called to the scene on Road 35E at 3:30 P.M. “It appears we have it…

Gravel Trailer Clips Line Near La Broquerie

The La Broquerie Fire Department was called out shortly after 3:30 Thursday afternoon after a gravel trailer clipped an overhead hydro line. Chief Al Nadeau says it happened about one mile south of…

Health Concerns Contribute To Resident Objections Of Gravel Pit

A La Broquerie resident is seeking approval from council to open a gravel pit operation. Cottonwood Holsteins, in partnership with Diamond Construction, are looking to open a gravel pit at the corner…
2017 08 ewen2

Ewen Questions Delay In Harassment Policy

Harassment and bullying are not allowed in the workplace, and municipal council chambers should be no exception. Ritchot Mayor Chris Ewen made that comment as we approach one year since Jackie Hunt…

Hanover Lowers Taxes For 2018

Council for the Rural Municipality of Hanover is lowering taxes this year. Council unanimously approved its 2018 budget Wednesday. Total tax revenue this year will be $19,358,772. About 41 per cent…

Mayor Pleased With 1st Quarter Construction Activity

The City of Steinbach reports $7.3million worth of building permits were issued in the first quarter of the year. Mayor Chris Goertzen says that's a great start to the year. "January, February and… is Steinbach's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Mindfulness Based Stress Reduction in Cancer Care. 8 Week Program

05 March 2018 6:00 pm - 07 May 2018 6:00 pm

Bethesda Hospital Crocus Room

Healthy Relationships Seminar

19 April 2018 7:00 pm - 21 April 2018 3:00 pm

Bergthaler Mennonite Church, Grunthal, Grunthal

Businesses in Bloom Open House

21 April 2018 1:00 pm - 4:00 pm

Historic Neufeld Garage Randolph, Manitoba, Randolph

Richer Young at Heart dinner and Dance

21 April 2018 5:00 pm - 11:00 pm

Richer Young at Heart hall