Winnipeg enjoyed strong multi-family activity this summer

Multi-family housing has pushed the Winnipeg housing sector towards a very strong summer, according to the city’s real estate association.

August data from WinnipegREALTORS® showed that the month’s sales grew by 13% annually, up to 1,439 transactions. This figure was 9% higher than the five-year average for that month.

Condos represented much of this market dynamism, with the asset class enjoying a 37% annual increase in sales and ending up 19% higher than the five-year average for August. In contrast, single-detached units saw a mere 4% year-over-year uptick.

“It is not often, if at all, when we see condominium sales outperform single family to the degree they did this month,” WinnipegREALTORS® president Ken Clark said.

Sales volume for the month amounted to a total of $411 million, which was 10% greater annually and the first time that Winnipeg’s August dollar volume exceeded $400 million.

On a year-to-date basis, the total sales figure of 9,702 was 5% higher than that seen during the January-August period last year. Meanwhile, dollar volume of $2.91 billion during the same time frame was up 6% from 2018.

As for inventory, the city saw more than 6,000 listings in August, which was 17% higher on a year-over-year basis. WinnipegREALTORS® assured that the market remained in balanced territory, however.

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

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?