Well April has come and gone here in Winnipeg, and it has been quite a month. Southern Manitoba has been battling the worst flood in well over a decade. Many homes have been cut off from road access and we all know people who have been forced to leave their homes due to the rising waters.
Due to the problems people have had this year with battling the flood, MLS sales have slipped a bit at the beginning of the month and rebounding at the end. The dip in sales is in line with previous flood years like 1997 where sales slowed as people were preoccupied with protecting either their home or their neighbor’s home.
For residential detached sales, the most active segment was the $150,000 - $199,999 price range with 24% of the total sales. The $200,000 - $249,999 price range garnered 21% of the total sales as well. A lot of what is driving these price segments are historically low interest rates which is putting home ownership within reach of many first time buyers.
The market here remains strong due to a good job market, strong in migration, and low interest rates.
For further information, please contact Robin Menaar.
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