As experienced Winnipeg mortgage brokers, we have learned the importance of relevant market information as it impacts the decisions our clients will be making when it comes to their mortgage options.
Market statistics and other real estate news and trends has the potential to impact interest rates and so is true about the opposite. For this reason, we believe in staying informed on all aspects of the real estate market so that we are better able to assist our clients throughout the home buying process.
The latest report released by Winnipeg Realtors via the Canadian Real Estate Association boasts great figures in the market for homes in the categories with the highest price points. According to the report, the sale of residential-detached homes in the over $500,000 price range rose 32% from August 2016 to August 2017. In fact, there were 7 sales in this category that exceeded 1 million dollars each this August.
While the sales of high-dollar homes may have increased significantly in Winnipeg, it is still far from the most active price range of the local real estate market. In August of 2017, most home sales fell into the $250,000 to $299,999 price range, followed closely by both the $200,000 to $249,999 and $300,000 to $349,999 price ranges.
When compared on a year to year basis, total sales dropped a slight 5% down to 1,288 in August of 2017, but this is not surprising as this year we are comparing figures with the highest year of sales on record for the month of August. When we look at the year as a whole, 2017 has seen more closed sales than 2016 did as the Winnipeg market reached 9,796 sales at the end of August.
At the beginning of September, there were still 2,469 residential-detached properties and 855 condominium properties listed for sale.
If you are interested in purchasing a home, give the trusted Winnipeg mortgage brokers at One Link Mortgage & Financial a call today! We can’t wait to help you find the perfect mortgage for your dream home!