Navigating a Competitive Market for Buyers

How to stay competitive in this super competitive Winnipeg Real Estate Market!

If you're a buyer in today’s real estate market, you’ve likely already noticed—competition is intense!

With limited inventory, rising prices, and homes selling well above asking, it's undeniably a seller’s market. But that doesn’t mean buyers are out of luck. With the right strategy, preparation, and guidance, you can still find a great home—even in this fast-paced environment.

How to prepare, stay competitive, and make your offer stand out:

1. Communication & Adaptable Expectations

Start with an honest conversation with your Realtor about the current market conditions. Many buyers begin their search with expectations based on listings they’ve seen online, not realizing those homes may have sold for $50,000+ over their list price. Before you start booking showings, review a few of your favourite homes with your Realtor and ask what they actually sold for. This helps you set realistic expectations and understand what your budget can truly get you. Trust your realtor and their opinions on what homes will sell for. While we don’t have a crystal ball, we are always actively working in the market and have a good understanding of what home could go for and how intense the competition will be.

Adapt expectations: make a honest list of what’s non-negotiable in a home—and what you’re willing to compromise on.

Being flexible is key in a market like this. The more adaptable you are, the better your chances of success. A garage is an awesome feature, but what if there is room to build one once you have taken possession? Hoping for move in ready? What if you hire a painter & handyman to freshen up the space a week prior to moving in? Prioritize the things you can’t change such as location & floorplan/square footage.

2. Get Pre-Approved

This is not optional in a market like this. A pre-approval tells sellers (and your Realtor) that you’re serious and financially ready to make a move. It also speeds up your ability to write an offer when the right property comes along. I cannot stress this enough, you should not be looking at properties until you have a been pre-approved.

3. Be Ready to Act Fast

Homes in this market are typically listed and sold within 5–7 days. When something hits the market that interests you, reach out to your agent immediately. Between your schedule, your agent’s availability, and other showing appointments, time is tight. If you're considering a pre-offer home inspection, you'll need to plan for that too—so the sooner you act, the better.

4. Make a Strong, Clean Offer

This is not the time to test the waters with a low offer. In a multiple-offer situation, you should be putting your best foot forward (of course within reason). Limit conditions where you’re comfortable doing so, and consider being flexible with the possession date. A strong, clean offer can be more appealing than a higher one with a bunch of strings attached.

Final Thoughts

Buying in a seller’s market isn’t easy—but it’s absolutely possible with the right mindset and support. If you're ready to start your search or have questions about the current market conditions, reach out, we are always happy to discuss and help assist you in finding a home!

#AgentSheyla

Sheyla Duncan

Phone: (204) 871-3228
Email: Sheyla@QueenTeam.ca