Winnipeg sales hover around 5-year average

There was a 4% decline in home sales in Winnipeg in July but the market remained strong according to Winnipeg Realtors.

The 1,376 sales were down year-over-year from 2017’s second-highest-on-record July but were just 2% below the 5-year average. When 2014’s record high is factored out, sales in July 2018 were less than 1% behind the average.

“We need to keep perspective from month-to-month and even year-to-year that despite what appears sometimes as drop off in sales activity or elevated sales in other instances, our local market remains very stable and resilient to wide fluctuations,” said Chris Dudeck, president of WinnipegREALTORS®. “Our home sale prices as well show a high degree of consistency and this is in part attributable to an economy that is one of the most diversified and stable in Canada.”

Both single-detached and condo sales were resilient in July, but it was single-attached that sizzled with a 44% increase year-over-year and a 3% gain in the first 7 months of 2018 compared to the same period of 2017.

Price range sales activity for residential-detached properties in July shows the $250,000 to $299,999 price range has the highest percentage of total sales at 19% with the next higher and lower price ranges of $300,000 to $349,999 and $200,000 to $249,999 placing second at 16% each.

There is still a wide disparity in the highest and lowest price sales price at $1,665,000 and $38,500 respectively.

“It is evident from looking at the many price ranges, and the significant difference from the lowest to highest sales price, that there are considerable options to choose from with over 5,000 MLS® listings available,” said Dudeck.”

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