January Starts off Strong

Well, this year appears to be started off with a bang here in Winnipeg! While total sales are down by 8%, the total dollar volume for sales has set a new record for January.

The real success story this year appears to be a 43% increase in condominium sales. This is a welcome change as they seemed to be a little more sluggish last year than was hoped. The number of listings has also increased this year from last year by 13%.

Only 26 % of homes were sold at or above list price this January. This is quite a change from the busy market that Winnipeggers were seeing most of the last few years. It just goes to show that even in a slowing market, if your house is exceptional, you have a good chance of getting what you are asking for and maybe even more this year.

As you can see from the below chart, the most active section of the market is still the $100,000 - $199,000 market with 45% of the total sales.

Winnipeg remains a very affordable city to live in with a strong economy and job market. Our rental vacancies are still among the lowest in Canada, which is putting some upward pressure on property values and rents.

Statistics were provided by Winnipeg Real Estate Association.