Real Estate Information Archive

PRESS RELEASE

April 7, 2016

For Immediate Release

OFF TO A GOOD START IN 2016

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First Quarter MLS® Sales Up 8%

 

WINNIPEG -   WinnipegREALTORS® MLS® market got off to a good start in 2016 with the first three months showing an 8% increase in sales over the same period a year ago. Helping make this result possible was a stellar March 2016 performance in which sales went up 5% over last March. There were 1,058 sales in March and 2,445 in the first quarter.

 

Owing to a new listings drop of nearly 9% in combination with strong sales, the active inventory at the end of March experienced a slight decrease from 2015. This is the exact opposite of what has been happening the last few years as the number of active listings has been spiking upward significantly. The overall MLS® market as a result is in balanced market conditions with 4 months of inventory.

 

When you breakdown the two main property types of residential-detached and condominiums a clear difference emerges. Based on March sales activity, the 2,259 residential-detached listings existing at the end of March would last 3 months if no other listings were to come onto the market while the 813 condo listings would be closer to 5 months.

 

“It is really important for buyers and sellers in any local market to understand one size does not fit all,” said Stewart Elston, president of WinnipegREALTORS®.

 

“You can have varying degrees of competitive market forces (e.g. supply and demand) at play between and within the many MLS® property types. In evaluating your property’s salability, some questions need to be asked. What price range does the property fall in? What city neighbourhood or rural municipality is it located? What attributes does it have in comparison to similar sized properties? Are they well maintained and upgraded if necessary?

 

“This is why we always strongly advise and even insist you consult a REALTOR® - a real estate expert – to give you the proper advice and counsel on how the current market applies to your own particular situation.”

 

Another good example of markets performing differently within the region it encompasses is with regard to residential-detached property inventory.  After three months of sales activity the results show neighbourhoods such as St. Boniface, Norwood, River Heights, East Fort Garry and Richmond West have either sold out or nearly sold all of the listings which have come onto the market this year. Close behind with some very high conversions of listings to sales are Crestview, Fort Rouge, Richmond West, Fort Richmond and Linden Woods.

 

With the entire market region averaging 51% of residential-detached listings being sold by the end of March the rest tend to be all over the map. This means many neighbourhoods still have a higher percentage of conversions of listings to sales but lots of them including rural municipalities fall under the market region average.

 

“Just like Vancouver is not the same as Calgary or Toronto, neither do our local neighbourhoods behave the same way,” said Elston.

 

There are two market developments worth noting as we head into the busiest quarter of our real estate market.

 

Condominium sales have rebounded from a poor first quarter last year. The 328 sales recorded so far are up 15% over the same period in 2015 and 8% over the 10-year average. March condo sales of 167 increased 25% over March 2015 and 20% over the 10-year monthly average.

 

The other one is the 19% increase in residential-detached sales over $300,000 this first quarter compared to the same period in 2015. As a result, the year-to-date average residential-detached sales price is $300,844, a 6% increase in comparison to first quarter 2015.

 

The most active price range for residential-detached sales in March was from $250,000 to $299,999 with 22% of total sales. Deadlocked in second place at 15% each were the $200,000 to $249,999 and the $300,000 to $349,999 price ranges. The $400,000 to $449,999 price range equaled the more active $200,000 to $249,999 price range for having the lowest number of days to sell on the market at only 21 days or 3 weeks.  The average number of days on market to sell a home in March was 31 days, 3 days slower than March 2015.

 

The most active price range for condominiums in March was from $150,000 to $199,999 at 34%. Second most active was from $200,000 to $249,999 at 20%. Another 14% sold from $100,000 to $149,999. The average days on market to sell a condominium in March was 46 days, 1 day slower than March 2015.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,875 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

PRESS RELEASE

March 8, 2016

For Immediate Release

          

SALES ECLIPSE 800 FOR FIRST TIME IN FEBRUARY

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February Leaps Ahead of the Rest

 

WINNIPEG - Whether an extra day in February paved the way for a record month is debatable as the best previous high for this month was 797 in 2007 and there were only 28 days to reach that level.  What it does show however, is more buyers came out of the woodwork to take advantage of some of the best supply of affordable house prices in the country.

 

Another February milestone was set this year too with dollar volume easily surpassing $200 million for the first time.  New listings coming on to the market were up in double-digits as well however the stronger conversion of listings to sales kept the overall inventory close to where it was a year ago. Based on the strong sales activity in February and a high influx of new listings there is roughly four and one-half month’s supply of MLS® listings available going into March. It was near six months at the end of January.

 

In percentage terms, February MLS® sales of 816 increased 21% compared to February 2015. February MLS® dollar volume of $222 million was up 29% over the same month last year.  New listings coming onto the market in February vaulted ahead by 14% leaving  an inventory of over 3,700 MLS® listings at the end of February, only 2% more than last year at this time.

 

Given February’s impressive result, year-to-date sales and dollar volume are up 10 and 14% respectively. Listings entered on the MLS® for the first two months have increased nearly 6%. 

 

“Our record-setting February is an indication of the Winnipeg market’s steadfast performance in contrast to some of the adversity we are seeing in other markets across the country,” said Stewart Elston, WinnipegREALTORS® president.  “The Conference Board of Canada is predicting Winnipeg’s economy will outperform most other major Canadian cities this year.”

 

One noticeable trend which has emerged in the last few years is rural sales are gaining at the expense of the City of Winnipeg.  One out of every four MLS® home sales in 2015 were in the outlying rural municipalities. February 2016 was no exception as 28% of all home sales happened outside the City of Winnipeg.

 

“In light of the current City of Winnipeg budget deliberations where Winnipeggers are seeing not only property tax increases but a proposed 25% increase in their frontage levy, talk of well beyond inflation jumps in quarterly water and sewer rates and a significant increase in combined building permit fees, it should not be lost on our civic politicians that outlying rural municipalities are an option for buyers seeking lower operating costs of owning a home,” said Elston.

 

As mentioned in the 2016 forecast for Winnipeg’s MLS® market the very balanced market conditions will continue to keep a lid on pricing and this was borne out in February. Both the residential-detached and condominium average sale prices were very close to the 2015 year-end numbers. Residential-detached was almost identical at a little over $294,000 while February average condominium sales price was just below the $236,000 recorded for 2015.

 

The most active price ranges in MLS® residential-detached sales in February were between $250,000 to $299,999 and $200,000 to $249,999 with 22 and 15% respectively of total sales.  The most active price range also had the lowest average days on market of 30 days. The average number of days on market to sell a home in February was 37 compared to 34 in 2015.

The most active price range in condominiums was between $150,000 and $199,999 at 28% of total sales.  The second busiest price range with 20% of sales was between $200,000 to $249,999. The average days on market was 48 days, the same time it took in February 2015.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 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

PRESS RELEASE

February 3, 2016

For Immediate Release

              

 

 

ONE MONTH DOES NOT A MARKET MAKE

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But January’s a Good Start

 

 

WINNIPEG – It has often been said that one month does not a market make. Yet here it is … January 2016 … and we only have one month to look at … so January is the market! And not to disappoint, the activity in the first 31 days does give us a lot to evaluate.

 

WinnipegREALTORS® was founded as The Winnipeg Real Estate Exchange in 1903 – and one of the founding Objects of the Corporation was to “… compile, record and publish statistics and acquire and distribute information respecting the real estate … business of its Members …”. So we’ve been looking at and interpreting market activity and statistics for 113 years.

 

Here’s how the New Year kicked off …

 

In terms of inventory, we have more listings available this January for buyers than we’ve had for the past 5 Januarys. More supply starts to change the sellers’ markets we’ve experienced since 2003/4 and brings more balance to the marketplace. Just recently we’ve seen a reduction in the number of multiple offers and sales over list price that became the norm in the sellers’ markets. Buyers can again exercise more due diligence by viewing more properties and making offers conditional on financing or home inspections than at the height of the market where demand was always exceeding supply.

 

At the end of January there were 3,406 listings available for viewing … up over 60% from the 2,125 listings available for sale in 2011.

 

There were 1,519 listings entered into the MLS® system in January, just 36 fewer than last January. But those 1,500 plus listings were 22% more than in January 2014 and 30% more than 2013!

 

And sales held their own at 571, 17 fewer than last January, but 6 more than 2014. One month is just too small a sample to see trends or make conclusions … but it appears that the market in Winnipeg remains healthy.

 

Dollar volume was $149 million this year, off 1.75% from last January’s $152 million … but up over January’s total for 2011 through 2014 inclusive.

 

“The numbers for January appear to reflect the Association’s forecast breakfast projections presented on January 27^th. Despite some of the negative headlines we see from national organizations trying to figure out trends and movements based on an over-weight emphasis on the Vancouvers, Torontos and Calgarys … in Winnipeg we tend to be less exposed to speculative influences like foreign investors and an economy based on a single resource like oil. So when you see headlines implying Winnipeg’s market is high risk or shows strong indications of problematic conditions … we should remember that real estate is local. The activity you see in our local MLS® stats can be relied upon.” said Stewart Elston, WinnipegREALTORS® 2016 President.

 

The forecast breakfast referenced by Elston showed that last year’s predictions were bang on and this year’s forecast continues to see the glass as half full.

 

Referring to the forecast, Elston states that “… with interest rates remaining at historical lows and very positive predictions from other analysts suggesting that everything from employment and confidence levels in Winnipeg and Manitoba are high, immigration is encouraging, and the province’s GDP and overall economy are all favourable … we can’t see any reason to predict that the local real estate market will be anything but stable.”

 

The most active price ranges in the Winnipeg’s single family residential market as recorded on the MLS® for January were between $200,000 and $249,999 and between $250,000 and $299,999, which combined accounted for 39% of sales. The average number of days on the market was 44 compared to 41 in 2015.

 

The most active price ranges in the condominium market were between $150,000 and $199,999 at 26%, which was the same percentage as sales between $250,000 and $299,999. But there were only 69 condo sales in January and this is such a small sample that no conclusions can yet be formulated. Average days on the market for condominiums came in at 62 days, on average 16 days longer than last year.

 

At the forecast breakfast, Association Market Analyst Peter Squire predicted that home sales through the MLS® will increase from 1 to 3% in 2016; home prices will rise from 0 to 2%; condo prices will be up the same 0 to 2%; and MLS® dollar volume will increase from 1 to 3%.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 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 Shaila Wise 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

PRESS RELEASE

January 12, 2016

For Immediate Release

               

 

2015 SALES SOLID WITH PRICES HOLDING FIRM

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December Sales Up 4%

 

WINNIPEG -   2015 finished on a strong note.  Following on the heels of a record sales month for November, December sales of 642 were up 4% from last December. They are the third highest for this month, and are only behind the best sales years ever by a very modest amount. 

 

“It is really quite remarkable how close our year-end sales have been in the last few years including our highest sales year in 2007,” said WinnipegREALTORS® outgoing president David MacKenzie. “They all tend to hover just above or close to the 13,000 level and in percentage terms we are only talking a little over 1% when we compare the 12,927 sales recorded this year to the 13,079 in 2007.”

 

While sales and even prices have shown consistent and similar results, listings have not chartered the same path. The number of listings entered on the MLS® were 24,603 in 2015, up 7% over 2014, and 41% over the 10-year average of 17,433. With an increase in listings but sales remaining consistent, the market’s inventory has also been rising month to month. This is borne out in having over 5 months of inventory available going into 2016.

 

“Buyers are in a great position to take advantage of a current market which is providing a large number and array of properties for sale and ones which remain some of the most affordably-priced in the country,” said Mackenzie. “Sellers need to take heart knowing WinnipegREALTORS® is still enjoying one of the best sales years it has ever had. They need to be aware however that more competition for those sales creates more downward pressure on prices since supply is outstripping demand.”

 

An indicator of stiffer competition for selling your home is evident when you see the number of single family home sales selling below list price.  Properties below list accounted for  65% in 2014 but now represent 75% of the market in 2015. In December alone 87% of all single family home sales sold below list price. Of the single family or residential-detached listings which sold in 2015, on average they achieved 98% of the total list price. 

 

When 2015 was all said and done a new MLS® dollar volume record was established at $3.5 billion. This resulted in a 2% increase over 2014. Despite sales being higher this December from December 2014, dollar volume actually fell 2.89% when compared to December 2014.

 

It was a tale of different stories when it came to the two primary MLS® property types. Residential-detached performed exceedingly well with sales and dollar volume up 3 and 5% respectively in comparison to 2014. On the other hand, condominiums never recovered from an unexpectedly poor first quarter where sales were off by 20%. By year end this deficit was cut in half but nonetheless represented a 10% decrease compared to 2014. 

 

The average sales price for residential-detached was $293, 992, a 2% increase over 2014. The average condominium sales price showed a 1% decrease from $239,171 in 2014 to $236,204 this year.

 

Residential-detached represented nearly 3 out of every 4 properties which sold on MLS® in 2015. Condominium market share was 12.5%. 25% of residential-detached sales in 2015 happened outside Winnipeg in the capital region. The southwest quadrant of Winnipeg was second with 19% of total sales.

 

The most active price range for residential-detached sales in 2015 was $250,000-$299,999 (22% of total sales), followed by the $200,000-$249,999 (17%) and the $300,000-$349,999 (14%).  Average days on the market for residential-detached sales was 33 days, 3 days slower than 2014. The highest-priced residential-detached sale was $2.7 million. The least expensive sale was $8,000.

 

The most active price range for condominiums in 2015 was $150,000-$199,999 (30% of total sales), followed by the $200,000-$249,999 (20%) and the $250,000-$299,999 (18%). Average days on market for condominium sales was 49 days, 9 days off the pace set in 2014. The highest-priced condominium sale was $950,000. The least expensive sale was $57,000.

 

Looking ahead to 2016, Manitoba’s GDP is expected to increase to 2.3% which is an improvement over the expected increase of 2.0% in 2015. In keeping with one of the country’s best GDP’s, Manitoba’s employment is forecast to grow by 1.6% in 2015 and 1% in 2016. This will keep its unemployment rate below 6%. Manitoba had Canada’s second highest population increase of 1% in 2015.

 

“While we do have an abundance of listings to work our way through at the beginning of the year, the good news is Winnipeg’s and Manitoba’s economy is performing relatively well,” said MacKenzie. “A most recent survey by CIBC shows Manitobans are most confident about their state of finances so this is another positive indicator that they will continue to take advantage of an excellent selection of properties for sale at some of the most affordable prices in the country.”

               

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 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

PRESS RELEASE

December 4, 2015

For Immediate Release

               

 

 

BEST NOVEMBER ON RECORD AT OVER 900 SALES

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November MLS® Sales Up 9%

 

 

WINNIPEG – Mild weather, hosting the Grey Cup, being singled out as one of the best destinations in the world to visit by National Geographic Traveler magazine, or just having a an excellent supply of terrific listings to choose from with such favourable mortgage rates, it was the first time November nudged over 900 sales in WinnipegREALTORS® 112-year history.

 

Not surprisingly, dollar volume was at its highest level too for this month at nearly $245 million and with a month to go, it is virtually assured a new annual dollar volume record will be set around the $3.5 billion mark. November also set a record for the highest-priced residential-detached or single family property sold ever at $2.7 million. It is a spectacular home and acreage nestled along the Assiniboine River in St. Francois Xavier.

 

“We have said all along this year Winnipeg is a very stable real estate market with good fundamentals supporting it,” said WinnipegREALTORS® president David MacKenzie. “November’s strong result puts us in an advantageous position to beat out last year’s solid sales performance and usher in a new annual dollar record.”

 

November MLS® unit sales of 903 represent an increase of nearly 9% over November 2014 and are the highest on record for this month. Similarly, dollar volume of close to $245 million set a new November dollar volume record and was up 12% over November 2014. Year-to-date MLS® unit sales of 12,285 are up less than 1% while dollar volume of $3.3 billion has increased almost 3% over the same period in 2014. 

 

Listing supply continues to be elevated with 4,377 available for sale at the end of November. This total is only a 5% increase over last year but is significantly more in percentage terms over some previous years when there were well under 3,000 properties for sale.

 

“Higher levels of listings, particularly in a property type where there are not as many sales each month, can put downward pressure on pricing given the heightened competition for buyers”, said MacKenzie. “This is why it is so important to talk to your REALTOR® about your property type in the context of the current market. Where do you price your property best based on supply, location and competition within your price range segment?”

 

 

The 5 months of MLS® listings supply available at this time tilts more towards a buyers’ market. As a result it puts more of a premium on vendors to do everything possible to place their property in its most positive light to sell given the stiff competition which exists.

 

As for the status of different MLS® property types heading in to the final month of the year, residential-detached or single family homes which represent 3 out of every 4 homes sold so far in 2015, are ahead 3% in sales activity and 2% in average sales price in comparison to the same period in 2014.  The average sale price is $294,973.

 

Condominiums which got off to a real slow start at the beginning of the year have recovered to some extent but are still off 11% from 2014. Their average sales price of $236,947 is down less than 1% from last year. Condos are the second most active MLS® property type with 12% of total market share.

 

An affordable alternative to single family and condominium properties is single-attached. They have increased nearly 8% in sales this year and experienced an average sale price rise of over 3%. Their average sales price is $226,860. This third most active MLS® property type only captures 3% of the total MLS® market. Vacant land sales are slightly lower in activity but similar in percentage terms.

 

The most active price range in November for residential-detached sales was $250,000- $299,999 (22% of sales), followed by the $200,000- $249,999 (18%) and $150,000 -$199,999 (12%) and $300,000-$349,999 (12%). Average days on market for residential-detached sales was 41 days, a week slower than November 2014. The highest-priced residential-detached sale was $2.7 million. The least expensive sale was $49,000.

 

The most active price range in November for condominiums was the $150,000-$199,999 (29% of sales), followed by the $100,000-$149,999 (19%) and the $250,000-$299,999 (18%). Average days on market for condos was 49 days, 3 days off the pace set in November 2014. The highest-priced condo sale was $587,932 and the lowest sale price was $101,000.                             

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 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

PRESS RELEASE

November 5, 2015

For Immediate Release

  

 

 

MLS® YEAR –TO - DATE SALES ON PAR WITH 2014

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October MLS® Sales Down Less Than 3%

 

 

WINNIPEG - With two months to go, it is too close to call whether this year’s sales activity can eke out a victory over 2015. The lead has changed a few times when comparing sales activity between 2015 and 2014. At present, 2014 regains the lead with a total of 11,391 versus 11,382 sales this year. Last year was WinnipegREALTORS® fifth highest sales year recorded at over 12,800 sales. It was a good year and only less than 2% off the best year in 2007.

 

On the other hand, MLS® dollar volume continues to set new records every year even if sales fall short of previous years.  2015 is no different.  Its $3.1 billion in MLS® sales transactions activity is up 2% over 2014. Listings entered on the MLS® for the first 10 months are 22,400, an 8% increase over 2014.

 

October MLS® sales of 1,084 represent a decrease of less than 3% from October 2014 while dollar volume of $283 million dropped a similar percentage to last October. New listings of over 1,800 in October were slightly more than what came on the market in October 2014.

 

“When you see some of the mixed sales results across the country such as Calgary’s sales being well off last year’s activity, I am pleased to say Winnipeg is holding its own,” said David MacKenzie, president of WinnipegREALTORS®.  “We should appreciate our economic fundamentals remain solid and this should give us reason to see us finish off well this year and feel confident going into 2016. Both Manitoba’s employment and population have increased in the first nine months.”

 

In CMHC’s most recent Fall 2015 Housing Market Outlook for Winnipeg and its surrounding rural municipalities, it indicates:

 

“Elevated levels of net migration will continue to have a positive impact on housing demand as new immigrants make their way into homeownership.  Adding to demand is a turnaround in employment in 2015 after the losses experienced in 2014. Gains in full time jobs, particularly among workers aged 25 to 44 who tend to be first time buyers and favour housing at the lower price points, will support resale growth.”

 

One area WinnipegREALTORS® will need to keep monitoring is the higher than usual supply of listings as it moves into slower months of sales activity.  Heading into November there are over 2,700 residential-detached properties and around 800 condominiums available for sale. In the second quarter where more brisk sales activity occurs, residential-detached active listings were as high as 3,301 while condominiums peaked at 983.

 

“Buyers are in an enviable position to take advantage of plentiful choice of listings in all of our MLS® property types,” said MacKenzie. “You need to be talking to a REALTOR® - the MLS® market expert - on what will best fit your needs according to your particular preferences and qualifications to meet financial obligations for the property you desire.”

 

A sign of a far more balanced market with healthy competition for buyers is only 6% of all residential-detached or single family homes sold at list price in October while 82% went for below and 12% went for above list price.  Nevertheless, the total residential-detached sales dollar volume in October represented 97% of the total dollar volume worth of listings sold.

 

The most active price range in October for residential-detached sales was $250,000-$299,999 (21% of sales), followed by the $200,000-$249.999 (20%) and $150,000-$199,999 (13%).  Average days on market for residential-detached sales was 35 days, 1 day faster than October 2014. The highest-priced residential-detached sale was $1,125,000. The least expensive sale was $18,000.

 

The busiest condo price ranges were the $250,000-$299,999 (22% of sales) and the $150,000-$199,999 (22% of sales), followed by the $200,000-$249,999 (19%). Average days on market for condominium sales was 47 days, a week off pace set in October 2014. The highest-priced condo sale was $599,900 and the lowest-priced sale was $88,000.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,880 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

PRESS RELEASE

October 8, 2015

For Immediate Release

               

YEAR-TO-DATE SALES OF 10,298 JUST AHEAD OF 2014

-              -              -

September Sales Better than Average at 1,144

 

WINNIPEG - September MLS® sales activity and the year-to-date pace is indicative of a steady market.  It is tracking very closely to 2014 as was forecast.  2014 saw WinnipegREALTORS®’ 5^th highest MLS® sales result in its 112-year history.

 

If we even use the third quarter or the past 3 months as an example, and look back over 3 years including 2015, it is quite remarkable how similar they are. Some may say nearly identical as there is a difference of only 7 sales between the highest and lowest sales results.  In order of highest third quarter MLS® sales to lowest they are as follows: 2013 – 3,803; 2014 – 3,802; 2015 – 3,796. You would be hard pressed to find such a minimal sales difference in any other major Canadian real estate market.

 

“They are not headline grabbing numbers,” said WinnipegREALTORS® president David MacKenzie. “What they tell us is we are very much in a narrow range of monthly MLS® sales results when up against the same month in 2014. Stability lives here and that is an attribute we can feel positive about in a world full of uncertainty.”

 

September MLS® sales of 1,144 were off 3% from .  However, they are over 2% higher from the 10-year September average.  There has only been one September when sales climbed over 1,200. Despite sales being down 3% from , dollar volume of $307 million eclipsed last year’s level of $305 million and is the highest MLS® dollar volume on record for September.

 

Year-to-date dollar volume is now over $2.8 billion, up 2% from 2014.  At 10,298 sales, year-to- date sales are in a virtual deadlock with 2014 as a mere 20 more sales have been processed through WinnipegREALTORS® MLS® in 2015 when compared to the same period in 2014.

 

More activity has emerged in the last few years with listings. Winnipeg is in a far more balanced market with 5,538 MLS® listings available at the end of September.  This equates to roughly 5 months of supply if no new listings were to come onto the market. 

 

Single family homes represent the most at 3,110 while condominiums are well back at 860. There are another 708 vacant land listings.

 

“People in the market who are looking to buy property are well placed at this time to take advantage of a healthy supply of all MLS® property types within our market region,” said David MacKenzie. “They should be calling their REALTOR® as they will advise them on what specific choices they have within the property type and location they are interested in living.”

 

 

 

The most active price range in September for residential-detached sales was $250,000-$299,999 (24% of sales), followed by the $200,000-$249,999 (19%) and $300,000-$349,999 (12%).  Average days on market for residential-detached sales was 35 days, 2 days slower than . The highest priced residential-detached sale was $1,150,000. The least expensive sale was $39,500.

 

The busiest condo price range was $150,000-$199,999 (30% of sales), followed by the $200,000 to $249,999 (22%) and $250,000- $299,999 (16%).  Average days on market for condominium sales was 56 days, 16 days slower than . The highest-priced condo sale was $482,500 and the lowest-priced sale was $72,500.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,880 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

PRESS RELEASE

September 8, 2015

For Immediate Release

               

AUGUST MLS® SALES UP 11%

•             -           -
  New August Dollar Volume Record Set at close to $341 million

 

WINNIPEG - The strong sales performance in August resulted in bringing year-to-date sales ahead of last year for the first 8 months of 2015. Last month 2014 was ahead slightly but the lead slipped away by the end of August owing to the 11% increase in sales over August 2014.

 

Dollar volume on the other hand has remained ahead of 2014 throughout the year.  In fact, August reinforced this consistent edge by setting a new dollar volume record for this month.  Over $340 million was transacted through the MLS® in August with one single family home sale fetching $2.1 million. Year-to-date dollar volume is now over $2.5 billion. It is up nearly 3% over last year and is the highest level it has ever been for the first 8 months.

 

At 1,258 sales, August 2015 is right up there with the best. The three higher August month sales on record are modestly better with none reaching the 1,300 level.  As for listings, compared to the last few years, where there was a 25% and 19% increase in MLS® inventory by month end over the previous year, this year’s 5,600 listings is more restrained.  It is up less than 10% from August 2014 and down nearly 400 listings from last month.

 

Nevertheless, the healthy supply of listings which roughly equates to four and one-half months on hand if no new listings were to come on the market, has not gone unnoticed by buyers wishing to take advantage of historically favourable mortgage rates and some of the more affordable house prices in the country.

 

“At this point in the year, we are experiencing our 5^th best sales year and dollar volume is ranked first and poised to set a new record by year end,” said WinnipegREALTORS® president Dave Mackenzie. “We are confident in the stability and consistency of Winnipeg’s real estate market. It really is symptomatic and reflective of a Manitoba economy which is diverse, resilient and performing well.”

 

Manitoba boasts one of the lowest unemployment rates in the country and has shown positive gains in job creation. Its unemployment rate has averaged 2.1 % below Canada’s rate over the past 15 years. Manitoba’s GDP is expected to be the third best in the country at 2.2% in 2015.

 

While condominium sales have been the subject of some concern this year some perspective is in order. Based on a five-year average of sales up until the end of August 2015 sales of 1,118 are only down 3%. The 160 condo sales or 26% increase in August over the same month last year has narrowed the year-to-date deficit from 19% at the end of July to 13% at August month end.

 

“Two things need to be kept in mind for condominiums in the context of our local market,” said Mackenzie. “Despite their gains in overall MLS® market share over the last few years at the expense of single family homes, the latter still represents the lion’s share of our MLS® market activity. This year three out of every four sales is a single family home where condominiums have been closer to one in ten at 12% of total MLS® market share. The second point is we still have four months to go and a month like we had in August shows the gap may be narrowed further before year end.”

 

Speaking more to the affordability of Winnipeg’s housing market where prices have been held in check due to a very balanced housing supply, the recent release of RBC’s housing affordability index for the 2015 second quarter is helpful in understanding where we fit in a national context.  It shows when it comes to buying a detached bungalow based on the pre-tax income needed to service the costs of owning a home at current market values Winnipeg is right in line with Montreal and Ottawa, not far off Calgary and Edmonton and well below Toronto and Vancouver.

 

RBC’s chief economist Craig Wright said “…homebuyers in the province continue to face little undue pressure as affordability levels remain very close to historical norms.”

 

The most active price range in August for residential-detached sales was $250,000-$299,999 (22% of sales), followed by the $200,000-$249,999 (17%) and $300,000-$349,999 (16%).  Average days on market for residential-detached sales was 38 days, a week slower than August 2014. The highest-priced residential-detached sale was a home in Headingley which sold for $2.1 million. The least expensive sale was $35,000.

 

The busiest condo price range in August was $150,000-$199,999 (31% of sales), followed by $200,000-$249,999 (22%) and $250,000-$299,999 (19%).  Average days on the market for condominium sales was 55 days, two weeks slower than August 2014. The highest priced condo sold for $501,000 and the lowest priced sale was $60,000.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,880 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

PRESS RELEASE

August 7, 2015

For Immediate Release

  

JULY NOT QUITE AS SPRY AS 2014

-  -              -
MLS® Sales Down 6%

 

WINNIPEG - It is no easy feat to overtake a record July set in 2014. Nonetheless, July 2015 sales were still brisk. At nearly 1,400 sales, they are 6% higher than the 10-year sales average and third highest for this month ever. If not for condominium sales lagging behind in July as well as this year-to-date, July 2015 would have narrowed the gap in MLS® sales from last July and been even more impressive.

 

Residential-detached sales continue to perform well in comparison to 2014. They are only down 2% from last July and are up 3% year-to-date.  On the other hand, condominium sales are off 22% in July and 17% for the year.

 

“We are a little bit surprised by how condominium sales are not rebounding from a slow start this year,” said WinnipegREALTORS® president Dave MacKenzie. “One thing I know for sure is it has nothing to do with lack of supply. With 939 condo listings available at the end of July, it is over double what was available at the end of July 2013 and up 35% from last July.” 

 

July’s MLS® dollar volume at $384 million is just 1% down from July 2014 despite sales being 6% higher that year. Year-to-date dollar volume is 1% ahead of 2014 at $2.17 billion. Year-to-date MLS® sales of 7,896 are down less than 1% from 2014.

 

“Overall our sales are very consistent with last year,” said MacKenzie. “Although you always need to appreciate and understand not all MLS® areas and property types, or sales and listings within our different price ranges behave the same way. This is why you need to be talking to a REALTOR® about your specific market needs and how the current market is affecting you.”

 

While affordability remains a hallmark of Winnipeg’s real estate market, July results show first-time buyers were not as active compared to last year. In examining the three key affordable house price ranges from $150,000 to $299,999, there were 80 fewer residential-detached sales. This number represents a 13% decrease from July 2014.

 

Condominium sales showed a similar downward result for the two price ranges from $150,000 to $249,999 with 23 fewer sales from 2014. However the next higher price range from $250,000 to $299,999 showed an increase of six sales over last year.

 

But we must remember that MLS® sales in 2014 set records, so this year’s numbers are still healthy.

 

“We should never be complacent about our market being more affordable than other major markets in the country.” said Mackenzie.  “Issues we have identified such as land transfer taxes, property taxes and other costs of home ownership affect Manitobans’ ability to purchase a property.”

 

The most active price range in July for residential-detached was $250,000 - $299,999 (22% of sales), followed by the $300,000-$349,999 (16%) and $200,000-$249,999 (16%). Another 22% of sales were split evenly in the $150,000 - $199,999 and the $350,000-$399,999.

 

Average days on market for residential-detached sales was 33 days, 5 days slower than July 2014. The highest priced residential-detached sale was $1,431,000 and the least expensive sale was $30,000.

 

The busiest condo price range in July was $150,000 - $199,999 (29% of sales), followed by the $200,000 -$249,999 (22%) and the $250,000 - $299,999 (18%). Days on market for condo sales was 41 days compared to 34 days last year with the highest priced condo selling for $880,000 and the lowest priced sale at $87,500.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,880 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

PRESS RELEASE

 

July 9, 2015

For Immediate Release

 

  

AMONG THE BEST JUNE SALES PERFORMANCES ON RECORD

 

-              -              -

June MLS® Sales Eclipse 1,500

WINNIPEG   - Since 2007 when for the first time June sales surpassed 1,500, this level has become the new benchmark upon which June is judged.  At 1,509 MLS® unit sales in June, over 1,500 sales have occurred three times after 2007 including last year when there were 1,515 sales. There is only a 55 unit sales difference or over 3% higher sales activity in the record-setting June 2008.

Not much difference on a year-to-date basis either.  Year-to-date sales are running less than 1% ahead of last year with 6,502 sales. This total is only off 7% from 2007, which at the halfway mark and year end holds the highest unit sales level in WinnipegREALTORS® 112-year history.  

This reinforces why Winnipeg’s real estate market may lack the excitement of other housing markets because it’s so steady and stable in generating similar results every year.

“In all honesty, our Winnipeg market can be quite boring due to how  remarkably close the month end numbers are in comparison to the same month  the year before,” said WinnipegREALTORS® president David MacKenzie.  “I will take that result any day over the uneven swings which occur in some other major Canadian markets.”

A byproduct of this stability is more affordable house prices. In RBC’s most recent housing affordability report  which has been compiled since 1985 and-captures Manitoba’s proportion of pre-tax household income needed to service the costs of owning a home at market values , condos fared better with bungalows and two-storey homes going up marginally. In conclusion, RBC says “affordability measures remain remarkably close to long-term averages”. Sound familiar?

Speaking of average house prices, they are very much in line with last year at the half-way mark of 2015.

 

There is no breakout like this for condominium sales; however, the year-to-date average sale price of $241,029 is up over 1% from the same period in 2014.

As indicated in the 2015 annual MLS® forecast, a plentiful listing supply will ensure well balanced market conditions prevail and therefore keep a lid on increasing house and condominium prices. 13,728 listings have been entered on the MLS® this year, an increase of 14% over 2014. Based on brisk sales activity in June, there is an inventory of approximately four months going into July.

Reflecting how prices are being kept in check is the similar dollar volume this June compared to last June. Dollar volume eked out an ever so slight edge over 2014 (less than 1%) with a record-setting $416 million for this month and one of the highest monthly totals on record. Year-to-date dollar volume of nearly $1.8 billion is up less than 2% over the same period in 2014. It is the highest level on record for the first six months.

Owing to a healthy supply of MLS® listings and historically low mortgage rates, buyers are continuing to capitalize on choice and rates or choice rates if the property they have long sought after is available for sale. Demand is holding up well too with one of the lowest unemployment rates in the country at 5.6 % and continued population growth fuelled by strong immigration. Manitoba’s real GDP is expected to grow 2.3% in 2015, making it the third best among provinces and above the national average of 1.8%.

“Given the outstanding selection of listings available throughout the city and entire capital region, it behooves buyers to see for themselves and call their REALTOR® for their expert advice,” said MacKenzie. “REALTORS® know the market and can give you quick access to new MLS® listings. Your chances of finding what you want have never been better – resale or new properties.”

MLS® property type breakdown shows condominium sales in June were only down 6% in comparison to last June. This is a vast improvement over some earlier months such as February and April when they were well off last year’s sales activity.

“We surveyed our real estate brokers recently and the majority of them felt the introduction of the new Condominium Act on February 1, 2015 had some impact on sales,” said MacKenzie. “Everyone involved in the condominium sales process is adjusting to the new requirements of the Act so our expectations are to see sales numbers perform better in the second half of 2015. Let’s not forget either an increased supply of affordable residential-detached homes competes directly with condominiums.”

Year-to-date sales show residential-detached units up 5% while condominiums have decreased 15%.

The most active price range in June for residential-detached sales was $250,000 - $299,999 (23% of sales), followed by the $200,000 - $249,999 range (15%) and the $300,000 - $349,999 range (15%). Another 22% of sales were split evenly in the $150,000 - $199,999 and the $350,000 - $399,999 ranges.

Average days on market was 29 days, 4 days slower than June 2014. The highest priced residential-detached sale was $1,165,000 and the least expensive sale was $32,000.

The most active price range for condos was $150,000 to $199,999 (35% of sales) followed by the $200,000 to $249,999 range (18%) and the $250,000 to $299,999 range (16%). Days on market for condos was 49 days, compared to 41 days last year with the highest priced condo selling for $655,000 and the lowest priced sale at $57,000.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,880 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