The strength of the Winnipeg housing market seen at the end of 2019 has continued into the new year with sales up 15% year-over-year in January.
WinnipegREALTORS said that there were 731 MLS sales in the month, beating the 5-year average by 18%. Dollar volume was up 18% to $207.4 million.
“Positive momentum from the end of 2019 continues in 2020 with brisk sales for this time of year,” said Catherine Schellenberg, president of WinnipegREALTORS®. “Helping kick start 2020 are very favourable mortgage rates with 5-year fixed residential mortgage rates available for under 3%.”
Listings were up less than 5% year-over-year at 1,870 to take total inventory to 4,002, up almost 7% from January 2019.
More than half of the detached homes and condos sold in January were priced below $300,000 with a further 20% in the $300,000-399,000 range.
“Lots of choice and options for buyers in 2020 and that will prevail in February and into the spring, “said Schellenberg. “ This is in stark contrast to a number of other housing markets in the country where they are concerned about a housing supply shortage.”