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Resale homes sales dip in August, but dollar volume up

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WINNIPEG — Local sales of existing homes dipped for the third consecutive month in August, but were still well above average for this time of year, WinnipegRealtors said today.

The association said 1,241 properties sold last month through the local Multiple Listing Service. That was a decline of just under four per cent, or 49 properties, from August 2011’s total of 1,290.

It was also only four per cent shy of the August record for sales, set in 2005.

However, last month did set a new record for dollar volume of sales for August. That rose by nearly one per cent to $298.7 million from $296.6 million a year earlier.

And despite the modest slowdown in sales activity in recent months, year-to-date unit sales were still running two per cent ahead of last year’s pace after the first eight months of 2012 — 9,387 versus 9,196 — and the dollar volume was up by seven per cent to $2.30 billion from $2.14 billion.

"We are bucking a national trend which points to moderating local real estate markets," said WR president Shirley Przybyl. "With the most active real estate months behind us now, our MLS sales are right in line with our best historic results for eight months and still ahead of last year’s impressive pace."

murray.mcneill@freepress.mb.ca

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