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Winnipeg home sales set July record

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With more listings to chose from and more balanced market conditions, two out of every three residential-detached listings sold for less than the list price last month in Winnipeg. That compared to less than one in two in 2008, when demand far outstripped the supply.

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With more listings to chose from and more balanced market conditions, two out of every three residential-detached listings sold for less than the list price last month in Winnipeg. That compared to less than one in two in 2008, when demand far outstripped the supply.

July was another hot month for Winnipeg’s robust resale-homes market, with new records set for both unit sales and dollar volume of sales.

A total of 1,483 properties changed hands through the local Multiple Listing Service (MLS), the Winnipeg Realtors Association said today. That up seven per cent from July 2013’s total of 1,388.

That helped to boost the dollar volume of sales by 10 per cent to $388.2 million from $352.8 million a year earlier.

The record-setting performance came on the heels of the third best June on record for MLS sales in Winnipeg. That month saw 1,515 properties change hands.

One of the factors that’s helping to fuel this summer’s buying frenzy was the arrival of another 2,300 new listings onto the market in July. That boosted the total inventory of available properties to more than 5,000 units by month’s end.

"A strong showing for sure and one not entirely unexpected given how the MLS market picked up in the latter half of the second quarter," said Winnipeg Realtors’ president David Powell.

"What is a pleasant reality for buyers is just how many more listings they have to choose from in comparison to other years at this time."

The association noted that with more listings to chose from and more balanced market conditions, two out of every three residential-detached listings sold for less than the list price last month. That compared to less than one in two in 2008, when demand far outstripped the supply.

Conversely, for the same number of sales, only half as many residential-detached properties sold for above the list price last month than in July 2008, the association added.

 

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