Winnipeg’s housing market has yet to exhibit noticeable corrections due to the coronavirus pandemic, with March sales posting 8% annual growth.
Data from WinnipegREALTORS showed that 1,089 home sales transpired last month. This pushed the Q1 total to a level 12% higher compared to the same period in 2019.
“Our first quarter has been consistently solid every month,” according to Catherine Schellenberg, president of WinnipegREALTORS. “Buyers have been taking advantage of affordable prices with a wide choice and healthy supply of listings to choose from. This first quarter is one of the best starts on record for WinnipegREALTORS, but we know unprecedented times are upon us, with public health being the highest priority now for Manitobans and Canadians.”
The volume of new listings has declined by 2%, however. As of the end of March, active listings numbered at 4,723 properties, which was 12% higher annually.
“Going into the spring market which is normally the busiest time of our annual market cycles will be different in 2020,” Schellenberg said. “We have already noticed a slow-down in listing and sales activity the last week of March and this is totally understandable given everyone’s desire and the critical need to flatten the curve on COVID-19.”