April sales subdued in Winnipeg market

April sales subdued in Winnipeg market

April sales subdued in Winnipeg market Home sales in the Winnipeg area eased in April, down 5 per cent to 1,300 from a year earlier. However, April 2016 had been a record month.

The sales in April reported by Winnipeg Realtors remain 2 per cent above the 10-year average for the month and while total dollar volume was down 1 per cent the first four months totalled $1.08 billion, up 2 per cent year-over-year.

“April is the kickoff to our spring market and first-time buyers are a driving force to generating sales activity,” said Blair Sonnichsen, president of WinnipegREALTORS®. “We are now learning first-hand how tougher mortgage qualifications and higher insurance fees are making it more difficult for this buyer segment to purchase a home.”

Detached homes under $300,000 saw a 15 per cent drop in activity in April compared to a year earlier although more expensive properties performed better than in April 2016.

Most condo sales were in the $150,000 to $199,999 price range which represented 30 per cent of total sales.

More market update: