Strong buyer demand and steady growth in Manitoba’s residential real estate market has set a record year for home sales.
The Manitoba Real Estate Association released its final numbers for 2021 on Wednesday, showing 19,672 residential properties changed hands last year.
“2021 was such an active year in the market, by October we already surpassed the previous annual sales record set in 2020,” said MREA president Stewart Elston. “It is especially notable since Manitoba is one of only two provinces to have fewer new listings in 2021 versus the previous year.”
Sales increased by 17.2% last year, compared to 2020 when a year-end record of 16,789 sales was recorded.
Annual sales accounted for over $6.56 billion in total dollars, up 28.6% over the previous year-end total of $5.1 billion. The average sale price was $333,841, which is up 9.8%.
“Absent a significant influx of new listings in the spring, 2022 sales will be hard-pressed to exceed 2021 levels. Nevertheless, in a market with robust and sustained buyer demand, we anticipate resale price growth will continue in the year ahead,” Elston added.
*Article courtesy of https://www.chrisd.ca/