Despite the COVID-19 pandemic, Manitoba’s real estate market was hot in 2020.
According to statistics sent out by the Manitoba Real Estate Association, sales have maintained momentum so far in early 2021.
In an email sent out earlier this week, the association said 975 properties sold in January, which represents a 28 per cent increase compared to January 2020.
Total sales for January were $297.1 million — a 40 per cent year-over-year increase and a new record for the month.
The 1,572 new listings posted were, however, a 15.9 per cent drop compared to January 2020, but the average sale price jumped 9.8 per cent to $304,759.
Statistics provided to the Sun by Brandon Area REALTORS show that locally, the number of sales in January 2021 was nearly double the January 2020 total, with 37 this year and 16 last year.
The local average sale price is also higher, with January 2021’s average price at $247,970, compared to an average price of $221,746 in January 2020.
The 47 new listings in Brandon this January was slightly down from last January’s total of 53.
"Like many parts of Canada, fewer homes are available for purchase and many houses are selling quickly," association president Stewart Elston stated in a release. "While tight market conditions can make it challenging for some buyers to find a home in their neighbourhood of choice, REALTORS are optimistic many more properties will come on the market once the weather warms up."
» The Brandon Sun