April sales subdued in Winnipeg market

Home sales in the Winnipeg area eased in April, down 5 per cent to 1,300 from a year earlier. However, April 2016 had been a record month.

The sales in April reported by Winnipeg Realtors remain 2 per cent above the 10-year average for the month and while total dollar volume was down 1 per cent the first four months totalled $1.08 billion, up 2 per cent year-over-year.

“April is the kickoff to our spring market and first-time buyers are a driving force to generating sales activity,” said Blair Sonnichsen, president of WinnipegREALTORS®. “We are now learning first-hand how tougher mortgage qualifications and higher insurance fees are making it more difficult for this buyer segment to purchase a home.”

Detached homes under $300,000 saw a 15 per cent drop in activity in April compared to a year earlier although more expensive properties performed better than in April 2016.

Most condo sales were in the $150,000 to $199,999 price range which represented 30 per cent of total sales.

MBN

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!