Condominium Sales Continue
Doble-Digit Increase over 2016
One clear pattern emerging this year has been the fast start to condominium sales.
Year-to-date sales are up 33% and dollar volume has jumped 37%.
One thing is for sure, there is no lack of listings to enable this pattern to continue.
February MLS SALES DOWN 6%
On the other hand residential-detached or single family properties are not keeping up with last year's record-setting pace.
Listings entered on the MLS for the first two months have decreased 6% while sales are down 8%.
One price range did unusually well was for home sales
over $1 million. This year there were 7 and this significant difference is the first clear indication of the City of Winnipeg's new impact fee on new residential property.
Buyers intending to build their luxury homes in Winnipeg are advancing their plans to avoid paying Winnipeg's impact fee which comes into effect May 1, 2017.
February MLS unit sales of 766 were down 6% in comparison to February 2016 and new listings coming on the market in February also fell 9% from February 2016.
Deadlocked in second place at 15% each were the $200,000 to $249,999 and the $300,000 to $349.999 price ranges.