Housing records hit new high this year
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Hey there, time traveller!
This article was published 16/09/2017 (2977 days ago), so information in it may no longer be current.
Manitoba will set a new record this year for Multiple Listing Service (MLS) sales in a single year, according to the latest forecast from the Canadian Real Estate Association (CREA).
“Manitoba and Quebec are the only two provinces expected to set new annual sales records in 2017, while sales in New Brunswick and Prince Edward Island are on track to come in just short of all-time record levels,” the association said Friday.
It said Manitoba’s sales are expected to climb by one per cent to 14,700 units from 14,550 units in 2016.
CREA also predicts Manitoba will be one of eight provinces to see an increase in the average selling price this year. It expects Manitoba’s price to rise by 2.8 per cent to $285,300 from $277,493 in 2016.
Looking further ahead to 2018, the association predicts MLS sales will dip by 0.4 per cent to 14,640 units, but the average selling price will climb by a further 1.6 per cent to $290,000.
Nationally, the association predicts MLS sales will drop by 5.3 per cent this year to 506,900 units from 535,149 units in 2016, mainly due to a slowdown in sales activity in the previously overheated Ontario market. But it expects the average selling price to rise by 3.4 per cent to $506,700 from $490,028 in 2016.
For 2018, it predicts MLS sales in Canada will decline by 2.3 per cent to 495,100 units, and the average price to dip by 0.6 per cent to $503,500.
murray.mcneill@freepress.mb.ca
History
Updated on Saturday, September 16, 2017 9:15 AM CDT: Photo added.