Sales cool slightly but prices are still on the rise in June!

June sales of 1,943 edged out last June’s sales of just under 1,900 by 2% and are up 14% over the 5-year average for this month. Dollar volume of $677.5 million jumped 16% over June 2020. New listings coming on to the market in June were down 12% at 2,373, while current inventory of 2,791 at month end decreased 39% from 2020.


“Sales are coming down off their peak in April 2021, and more closely aligned with 2020. June 2020 was the first month when sales rebounded strongly after the pandemic economic shutdown,” said Kourosh Doustshenas, 2021 president of the Winnipeg Regional Real Estate Board. “2021 dollar volume gains remain in the double-digits and represent strong upward price movement compared to 2020.”


Year-to-date sales of 10,131, for the first half of 2021, increased 49% over the same period in 2020 and 35% over the 5-year average. Dollar volume of $3.4 billion has risen 68%. A remarkable 78% of all listings entered on the Multiple Listing Service® this year have been sold compared to 54% in 2020.

“A true hallmark of this year has been the unprecedented buyer demand for all property type listings with major percentage gains in sales from 2020,” said Doustshenas. 

 


This surge in demand has created seller’s market conditions resulting in price escalation in property types such as single family homes where supply has seen a record number of buyers participating in the market.


The average residential-detached or single family home sales price for the first six months of 2021 is $381,053, a 16% increase over last year. 

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