Sales of Winnipeg homes hit all-time high

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This article was published 11/07/2016 (3400 days ago), so information in it may no longer be current.

The Winnipeg housing market is rocking.

Winnipeg Realtors Association (WRA) numbers released Monday morning show home sales in June hit an all-time monthly high of 1,638 transaction on the Multiple Listing Service (MLS).

It was the highest six months and second quarter volume in Winnipeg’s history.

May and June of this year were the second and third best months ever on record with 1,638 transactions in June and 1,629 in May.

Sales were nine per cent higher in June and for the first six months of the year.

Prices were up only modestly across the board but once again June set a new highest monthly dollar volume on record at $472.3 million up 13 per cent over June 2015. Year-to-date dollar volume of close to $2 billion has risen 11 per cent over the first half of 2015.

WRA officials point to strong underlying fundamentals in the Winnipeg market driving the market strength with continuing population growth.

Stewart Elston, president of WRA said, “The difference between this year and last year is stronger buyer sentiment and therefore higher conversions of listings to sales.”

The average year-to-date price for single family homes and condominiums is $306,311 and $232,507 respectively.

This morning Canada Mortgage and Housing Corp. also reported that housing starts in Winnipeg are trending up at 3,605 units in June compared to 3,572 in May.

Actual housing starts totalled 344 units in June, representing an increase from 254 units started during the same month last year. This increase was driven entirely by the multi-family sector with the majority of the 191 multi-family units started in June intended for the rental market.

martin.cash@freepress.mb.ca