WINNIPEG - In spite of an ongoing COVID-19 pandemic, WinnipegREALTORS says the city’s real estate market has remained strong over the past six months. The Multiple Listing Service has seen six months of record monthly sales, for a year-to-date milestone total of more than 15,000, which is 2,000 sales more than there were in 2019.
Compared to November of last year, new listings this November were down by 12 per cent, but year-to-date dollar volume - which reached $4.6 billion - is up from 2019 by 19 per cent.
WinnipegREALTORS president Catherine Schellenberg says changing circumstances and housing needs, along with a more affordable long-term cost of owning a home is a driving force behind the numbers. “The incredibly low mortgage rate environment this year is enabling buyers to move into a new living arrangement,” she says.
As a result of the province being under Critical-level public health orders, the Manitoba Real Estate Association has strongly recommended against holding open houses. Realtors have increasingly been using technology to ensure the safety of sellers, buyers, and agents to evaluate properties virtually.