Winnipeg Set To Hit New Annual Record

For the year 2016, the sales of homes in Winnipeg has seen steady growth, and on a stride to reach a new yearly record. The figure for homes sales for October was 1,138, which was sold via its MLS, recording a yearly increase of 5 per cent. The volume of the dollar surpassed that of last year’s own by 9 per cent, with a close total of $310 million. With the year-to-date at 7 per cent beyond the same period of 2015, a record year of sales is certain, exceeding 13,076; which was the total of 2007.

The number of first-time buyers has also increased, with the 25-34 years age group for new homeowners in the market expanding. Single-family homes along with single-attached, townhouses and condos are being bought. The sales of single-attached homes increased by 9 per cent, with condos following behind by 10 per cent and townhouses leading by 51 per cent in this year alone.

For this year, the $234,623 benchmark price for condos was slightly less than that of 2015 by 1.5 per cent, while the average price for single family or residential-detached sale price of $303,660 for this year increased by 3 per cent.

The president of Winnipeg Realtors, Stewart Elston said; “Winnipeg’s balanced housing market has kept prices in check despite brisk sales activity. This is in sharp contrast to some high priced markets in Canada where listings can be in short supply.”