Winnipeg's Real Estate Market On Record Pace

According to WinnipegRealtors, a professional organization that serves its Members and promotes the benefits of organized real estate, the real estate market in the city is looking hot. The city just went through its most active six months in history.

The organization released its June and year-to-date sales data on Monday which indicated that more than 7,000 properties sold during the first six months of the year. 1,638 properties sold during the month of June alone.

Stewart Elston, the president of WinnipegRealtors, stated that the city's real estate market is supported by strong underlying principles.

He said the difference between 2016 and last year is that there is a stronger sense of buyer sentiment and therefore higher conversions of listings to sales.

The average price for a single-family home is $306,311. The average price of condos so far this year is $232,507. There is a specific demand for single-family homes as 76% of sales in June were single-family properties.

Reference:

Toronto Sun

http://www.winnipegsun.com/…/winnipegs-real-estate-market-o…