Like the weather outside, Winnipeg’s resales-homes market is heating up after getting off to a cold start earlier in the year.
The Winnipeg Realtors Association said 1,480 properties were sold last month through the Multiple Listing Service (MLS). That’s almost on par with a year earlier, when 1,487 units changed hands.
The supply of available homes also reached levels not seen since the 1990s, the association said, with close to 4,000 units for sale going into this month.
"If a cooler, later spring tempered the multi-year escalating Winnipeg market, our recent weather has reheated sales to equal the June 2012 statistic," said WRA president Richard Dettman.
Dettman also noted last year was one of the best years on record for MLS sales in Winnipeg, so nearly matching June 2012’s sales was no mean feat.
"Looking ahead, if we can convert or turn at least 35 per cent of our active listings to sales, which is a reasonable expectation give past market performance, then third quarter sales will be off to a very good start," he added.
The association said while unit sales fell slightly short of June 2012’s mark, that didn’t stop the market from setting a new June dollar-volume record, at $392.4 million. That was a six cent improvement from June 2012’s total of $369.4 million.
Last month’s strong showing left unit sales running seven per cent behind last year’s pace after the first six months of the year — 6,431 units versus 6,921. The dollar volume was off by less than two per cent — $1.68 billion versus $1.71 billion.