Real Estate Information Archive

PRESS RELEASE

October 6, 2016

For Immediate Release

ANOTHER MLS® RECORD SET IN SEPTEMBER
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Only Second Time September Eclipses 1,200 Sales

 

WINNIPEG - 2016 has been firing on all cylinders with yet another best result for MLS® sales activity in the month of September.  Sales of 1,216 eked out a slight edge over 2011 and are only the second time sales in September have gone over 1,200.

 

As a result, year-to-date sales of 11,000 are at their highest level ever for nine months and similarly dollar volume reached $3 billion for the first time with three months to go.

 

“We are without question enjoying a record-setting sales and dollar volume year,” said Stewart Elston, president of WinnipegREALTORS®.   “Given Manitoba’s impressive immigration and population increases in 2016 you know it has to translate into more demand for housing.”  “And contrary to some other major markets where supply has been an issue in meeting demand, our market has a healthy supply of MLS® listings to choose from.”

 

Strength of demand in September was especially evident in residential-detached homes with one out of three active listings being sold.  It also shows in the year-to-date conversion of residential-detached listings to sales with a 61% conversion ratio compared to 56% in 2015. The conversion of condominium listings to sales is higher this year too at 45% compared to 41% in 2015.

 

Further to this point, net interprovincial migration numbers from Statistics Canada have improved from to so this shows a combination of less people moving out of Manitoba and more coming back from other provinces.

 

September sales of 1,216 were up 6% over the same month last year while dollar volume of nearly $336 million rose 9% over September 2015. Year-to-date sales of 11,000 are up 7% over the first nine months in 2015 while dollar volume of $3.06 billion has increased 11% over the same period in 2015.

 

This year’s better than expected MLS® sales activity goes well beyond residential-detached and condominium properties which are up nearly 5 and 10% respectively. All other MLS® property types are ahead of last year at this time with some significantly higher. Town house sales are up 71% over 2015 while mobile homes and vacant land have increased 20%.

 

 

 

The most active price range for residential-detached homes in September 2016 was from $250,000 to $299,999 at 21% of total sales. The second most active was the lower price range of $200,000 to $249,999 at 17%. The highest sales price was $1,598,327 while the lowest was $21,000. The average days on market to sell a home was 30 days, 5 days faster than September 2015.

 

The most active price range for condominiums in September 2016 was $150,000 to $199,999 at 31% of total sales. The next most active price range was from $250,000 to $299,999 at 18%. The highest priced condo was $918,750 while the lowest was $94,800. The average days on market to sell a condominium was 51 days, 5 days quicker than September 2015.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

Established in 1903, WinnipegREALTORS® is a professional association representing just under 1,900 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

For further information, contact Peter Squire at (204) 786-8854.

 

 

Shaila Wise

WinnipegREALTORS®
Administrative Assistant, Public Affairs
Phone: 204-786-8854  Ext. 219
Fax: 204-784-2343
Website: www.winnipegrealtors.ca
Email: swise@winnipegrealtors.ca
Fighting for Homebuyers
www.2muchltt.com

 

 

August MLS® Sales UP 7%
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A New August Benchmark of Over 1,300 Sales

 

WINNIPEG - Summer vacations, the Olympics, Folklorama, Blue Bomber winning streak, and other August activities did not get in the way of buyers taking advantage of a healthy supply of some of the most affordable house prices in the country.

 

August was indeed splendid with a new benchmark in sales established. For the first time in August, MLS® sales went over 1,300 to finish at 1,350. This represents an 11% increase over the 10-year average for this summer month and sets up a potential record-breaking sales year with sales ahead by nearly 7% with 4 months to go.

 

Year-to-date dollar volume of over $2.7 billion is maintaining a record pace as well with a gain of over 8% in comparison to the first 8 months in 2015.

 

“2016 is showing strong market activity with a number of new monthly sales highs already recorded,” said Stewart Elston, president of WinnipegREALTORS®. “One way of looking at it is buyers are converting opportunities in greater numbers this year. They are reaping the benefit of many listings to choose from at prices which are being held in check by a balanced market. Helping keep prices more affordable are record low borrowing costs.”

 

Both August MLS® sales and dollar volume increased 7% in comparison to the same month last year. New listings were up only 3% while the inventory at the end of August of 5,148 listings is down 8% from 2015. Due in part to such solid sales activity this year, the two busiest MLS® property types - residential-detached and condominium –are down 11 and 9% respectively in available listings from last year.

 

Condominium sales have made big strides over last year with a 14% increase in August over the same month in 2015 and 10% year-to-date. 2014 is the only year condo sales were better up until the end of August.

 

“This August’s sales performance puts to rest any notion summer is not an important, if not an essential time, in our yearly market activity,” said Elston. “With the exception of May and June, July and August are very active as sellers want to take advantage of ideal curb appeal conditions to show off their properties while buyers too want to see them in the best possible light.”

 

One home in particular which caught some buyer’s eye was one in South Charleswood (south of Wilkes). It is the highest residential-detached MLS® sale this year at $2 million. There was also a house sale for $21,000.

 

“When there is such a wide range of house prices within our market, a myriad of Winnipeg neighbourhoods and rural municipalities to choose from, and varying degrees of listing supply availability, you need to be talking to a REALTOR® about your own specific situation in order to make an informed decision” said Elston. 

 

The most active price range for residential-detached sales in August 2016 was from $250,000 to $299,999 at 24% of total sales. 15% of the sales activity was from $200,000 to $249,999 while another 13% was from $300,000 to $349,999. The average number of days to sell a home was 35 days, 3 days quicker than August 2015.

 

The most active price range for condominiums in August 2016 was from $150,000 to $199,999 at 29% of total sales. Tied for second at 18% and well back in comparison were the $100,000 to $149,999 and $200,000 to $249,999 price ranges. Similar to residential-detached, a condominium sale price of $973,350 is the highest condo sale price this year.

 

The average days on market for a condo sale was 47 days, 8 days faster than August 2016.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

Established in 1903, WinnipegREALTORS® is a professional association representing just under 1,900 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

For further information, contact Peter Squire at (204) 786-8854.

 

 

Shaila Wise
WinnipegREALTORS®
Administrative Assistant, Public Affairs
Phone: 204-786-8854  Ext. 219
Fax: 204-784-2343
Website: www.winnipegrealtors.ca
Email: swise@winnipegrealtors.ca
Fighting for Homebuyers
http://2muchltt.com