Real estate agents in Winnipeg has a successful 2017 which ended with modest but positive sales in December.
The year-over-year increase in sales volume was 3% to 635 sales through the MLS of Winnipeg Realtors while the dollar volume was up 7% and listings gained 8%. Single-family home sales dropped 8% though.
Overall, 2017 came within just 1% of the record-breaking high of 2016 with 13,525 sales.
“Considering tougher mortgage qualification requirements were in effect for insured mortgages, two Bank of Canada interest rate increases were brought in, and impact fees were imposed by the City of Winnipeg on new residential development, we are particularly pleased with our MLS® market performance,” said outgoing Winnipeg Realtors president Blair Sonnichsen.
He added that the performance reflects his members working diligently with mortgage brokers and financial institutions to overcome the challenges that arose in 2017.
The residential-detached average sale price in Winnipeg went from $302,726 in 2016 to $315,720 in 2017. The condominium average sale price rose over $9,000 to $244,687 in 2017.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate