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Record Month for Manitoba’s Real Estate Market

August 18, 2020 9:54 AM | News

House For Sale

A sign advertises a new home for sale in Carleton Place, Ont., on March 17, 2015. (THE CANADIAN PRESS/Sean Kilpatrick)

WINNIPEG — Manitoba’s hot real estate market showed no signs of cooling down in July as the industry reported another record month.

The Manitoba Real Estate Association says July reached the highest number of sales in a single month for the second consecutive month, surpassing sales over the same period last year.

“The extraordinary rebound of residential property sales in Manitoba has continued in the month of July,” said MREA president Glen Tosh.

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

The MREA says 2,060 residential properties were sold in Manitoba in July — exceeding the previous monthly record of 2,015 unit sales set in June 2020.

Residential property sales in July accounted for $637 million — up 38.1% compared to July 2019.

“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,” Tosh added.