Strong start to 2020 for Winnipeg home sales

Strong start to 2020 for Winnipeg home sales

Strong start to 2020 for Winnipeg home sales

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.”