Winnipeg home sales hit record $3-billion mark in 2012

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This article was published 07/01/2013 (4729 days ago), so information in it may no longer be current.

Last year was a good time to own a moving company.

According to year-end figures released Monday morning by WinnipegREALTORS, Winnipeggers spent a record $3.2 billion buying 13,007 homes in 2012. That marks just the second time the city’s resale home market topped the $3-billion mark in sales in its 109-year history.

The number of homes sold was down slightly from the 13,065 that changed hands in 2011, but that didn’t bother Shirley Przybyl, outgoing president of WinnipegREALTORS.

“To finish as well as we did given tighter mortgage regulations and regular national media calls for softer real estate markets, it is testimony to the resiliency of the greater Winnipeg real estate market and our Manitoba economy in general,” she said.

Sales in December were down slightly from a year ago, 615 compared to 698, but they were still five per cent above the 10-year average for December. The dollar volume for the month was $156.2 million, down 14 per cent from $182 million from a year earlier.

The average amount of time on the market for residential detached homes last year was 28 days, just two days longer than the record pace set in 2011.

The highest sale price last year, set in December, also set a new record at $2.2 million. At the other end of the spectrum, the lowest price paid for a property was just $8,000.