Manitoba has seen ‘extraordinary rebound’ in home sales, says real estate association

Real estate sales are on the rise in Manitoba, despite the COVID-19 pandemic.
Real estate sales are on the rise in Manitoba, despite the COVID-19 pandemic. Feverpitched/iStock/Getty Images

The COVID-19 pandemic is affecting almost every aspect of Manitobans’ lives, but one area that seems to be thriving despite the chaos is the province’s real estate sales.

According to the Manitoba Real Estate Association (MREA), the province reached its highest number of single-month sales in July — the second consecutive record-breaking month — surpassing last year’s highs over the same period.

MREA president Glen Tosh said Tuesday that the numbers — 2,060 residential properties sold in July — represent an “extraordinary rebound.”

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“Earlier this year, in March or April, I don’t think anyone was anticipating this level of activity and better-than-expected results,” said Tosh.

“Overall, 2019 was a good year for residential sales in Manitoba and considering the ongoing challenges of COVID-19, catching up to and surpassing last year’s totals at this time is quite an achievement.

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“While there are more challenges to come in fighting the global pandemic, we believe owning a home in Manitoba can offer a safe haven in an uncertain world.”

The province also set a monthly record for total sales volume at $637 million in July, eclipsing last year’s number by 38 per cent.

Click to play video: 'Winnipeg real estate market recovering'
Winnipeg real estate market recovering

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