There were 571 unit sales with a dollar volume of $156 million, both less than 2% up from a year earlier. Inventory of 3,096 and new listings of 1,500 were both in line with January 2017.
“Too early to tell how much impact the new stress test effective January 1, 2018 on uninsured mortgages will have on the local market,” said Chris Dudeck, president of WinnipegREALTORS®. “And we should not forget that the stress test on insured mortgages in late 2016 will still be a factor in 2018.”
The weather also played its part in slowing sales in January and detached sales were 12% lower than a year earlier, and condos were roughly on par with the 5-year average.
Duplex sales increased 44%, single-attached sales were up 35%, and vacant land transactions jumped 53%.
More market update:
There was little change in home sales in Winnipeg last month with MLS sales, inventory, listings and dollar volume all holding steady.