Sales of homes in Winnipeg continue to gain traction with July posting the best sales figures since 2014 and beating the 10-year average for the month.
The 6% year-over-year rise in sales to 1,438 made it the second-best July on record, just 3% behind 2014, and also marked the first time the dollar volume of sales was above $400,000.
“Initial concern this year of tougher mortgage requirements affecting sales activity is being overcome by strong demand for all property types,” said Blair Sonnichsen, president of Winnipeg Realtors. “I cannot emphasize enough that in our local market we have different affordable options to choose from.”
The higher sales were driven by a 32% surge for condos which saw listings levels of around the same as 2016 while availability of single-family homes tightened.
Year-to-date sales are running above the record-breaking pace of last year with 8,508 sales.