Real Estate Information Archive

PRESS RELEASE
April 8, 2013 
For Immediate Release 
A BELOW AVERAGE MARCH FOR MLS® SALES 
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MLS® Sales Down 26%; Dollar Volume Off 15%
WINNIPEG - Will someone turn the pilot light back on and warm up our MLS® market? 
You have to go back to the old Winnipeg Jets era when the likes of Teemu Selanne and 
Thomas Steen were entertaining fans at the Winnipeg Arena to find the last March where sales 
were lower than March 2013. It just so happened to be the 1994-1995 NHL lockout season 
where only 48 games were played. Sound familiar! And lack of scoring or conversions of 
listings to sales clearly hurt sales activity in March. To use another sports analogy, many 
buyers decided to sit on the sidelines and not venture out onto the field of play. 
Listings were not the issue as new ones coming on the market were down less than 7% while 
the active inventory at the end of March remains up 4% over the same time last year. A 
collective buyer pause seemed to engulf the local real estate market. If it helps restore some 
supply-demand balance to what has been one of the tightest resale housing markets in the 
country, this development should be viewed favourably by buyers feeling unduly pressured by 
a lack of listings. 
The extent of the decline in sales activity is evident when you consider March 2013 MLS® 
sales were 19 per cent below the 10-year sales average of 1,043 for March. You more or less 
expect March now to consistently deliver over 1,000 MLS® unit sales. 
On a quarterly basis you only have to go back four years to find a poorer MLS® sales 
performance and dollar volume is the third highest on record behind the previous two years. 
March MLS® unit sales decreased 26% (844/1,138) while dollar volume was off 15% ($224.7 
million/264.7 million) in comparison to the same month last year. Year-to-date MLS® unit 
sales are down 13% (2,156/2,483) while dollar volume dropped 6% ($550.4 million/$589.0 
million) in comparison to the same period last year. Listings entered on MLS® for the first 
three months have decreased less than 4% in comparison to the same period in 2012. 
“Instead of March madness it was Match calmness with buyers noticeably absent from our 
MLS® market at this time of year,” said Richard Dettman, president of 
WinnipegREALTORS®. In looking more closely at what happened, the drop off in buyer 
activity was three times greater in the first-time homebuyer price ranges than in the upper ones. 
In fact, our highest price range of over $500,000 clearly outperformed March 2012 in sales, 
less days on market and having a higher sale price of $1,650,000.” 
In a recent membership survey WinnipegREALTORS® conducted this year over 90 per cent 
of the respondents stated they either strongly agree, agree or somewhat agree that they are having difficulty finding homes for first-time buyers which they can afford. This result has 
never been more definitive in its conclusion. 
While some vendors may be unrealistic in their expectations for what sales price they expect to 
get for their home, Winnipeg still has some of the most affordable home prices in the country 
so other front end costs such as high provincial land transfer taxes (no first-time homebuyer 
exemption in Manitoba) have to be considered when you do further analysis on this 
affordability issue. 
“ Good or bad, we do not overreact either way as one month does not make a trend so we will 
be watching April very closely to see if spring thaw brings many more buyers out of the 
woodwork and MLS® sales are more in line with our expectations,” said Dettman. 
The most active residential-detached price range in March was from $250,000 to $299,999 at 
22% of total sales activity. Second most active was the $200,000 to $249,999 range at 18%. 
For condominiums, the busiest price range was from $150,000 to $199,999 at 30 % of total 
sales. The $200,000 to $249,999 price range had another 21% of condominium sales. 
The average days on market for residential-detached sold properties in March was 28 days, one 
day off last month’s pace and 3 days slower than March 2012. As for condominium sales, the 
average days on market was 27 days, 19 days quicker than last month and 4 days ahead of 
March 2012. 
Established in 1903, WinnipegREALTORS® is a professional association representing over 
1,700 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 786-8854

PRESS RELEASE

March 8, 2013

For Immediate Release

FEBRUARY MLS® SALES DROP OFF 11%

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MLS® New Listings Decline 12%

WINNIPEG – Call it what you will, whether some rather harsh winter weather conditions or just softening in the local marketplace for this time of year, there was a real parallel in the drop off of new listings and sales at 12 and 11% respectively. The conversion of new or current listings to sales remained the same this February as in the past two years. So one way of interpreting what happened this year to precipitate less sales activity is there were less property owners willing to put their property on the market. At the same time, buyers at least for single family homes did not reach into the older existing inventory to any great extent to buy what was on the market. 

One area where home sales were down significantly were in the price ranges under $200,000 where the inventory was well off what existed last year at the beginning of February. They also as a property type experienced a drop in the percentage of listings being converted to sales and consequently saw overall market share in February represent only two out of every three sales. It is usually closer to three out of four in a good month.

Condominium sales activity was much closer to last year as inventory was actually higher than what existed in February 2012 and conversions were similar to last year.

A sign of less demand this February was the percentage of sales that went for over list price. In single family homes or residential-detached properties, 35% of total sales went for greater than list price where in February 2012 there were close to 44% achieving higher than list price. The same occurred in condominium sales activity with a drop in sales above list price from 31% to 24%.

As a result of less MLS® sales activity in February, MLS® inventory for all property types loosened up to nearly three and one-half months compared to three months last year.

February MLS® unit sales were down 11% (698/781) while dollar volume decreased 6% ($178.7 million/$191.0 million) in comparison to the same month last year. Year-to-date MLS® unit sales  are down 2% (1,312/1,345) while dollar volume is up less than 1% ($325.7 million/$$324.3 million) in comparison to the same period last year.

“We are still converting the same percentage of MLS® listings we did in our last two near record sales years so there is no reason to get overly concerned with what happened this February,” said Richard Dettman, president of WinnipegREALTORS®.  “As we see in a number of Winnipeg MLS® areas, there is a real scarcity of active listings so not surprisingly you cannot convert what you do not have. What is something we need to watch more closely is the underperformance of the residential-detached property type which remains the predominant one in our MLS® system.”

Dettman added, “March MLS® market results will be more revealing as it is a busier month for real estate activity and helps set the stage for the spring market. With spring around the corner and aggressive lending mortgage rates being offered up, it may indeed kickstart better performance in the residential-detached property type category which is the most price sensitive due to its higher prices in comparison to other residential property types.”

The most active residential-detached price range in February was the $250,000 to $299,999 at 22% of total sales activity. The second most active price range was from $200,000 to $249,999 at 17%. The highest residential-detached sale price was $1,075,000 and the lowest only $20,000. For condominiums, it was a tie with the $200,000 to $249,999 and $150,000 to $199,999 price ranges both having 24 sales or 25% each of total market share.  

The average days on market for residential-detached sales was 27 days, 2 weeks faster than last month and one ahead of the pace set in February 2012. The average days on market for condominium sales was 46 days, 5 days slower than last month and 15 days off the turnover in February 2012. Note: A change in how condominium units are being sold and accounted for in new projects is overstating how long they have actually been on the market.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.

PRESS RELEASE

January 7, 2013

For Immediate Release

2012 MLS® SALES REACH 13,000 LEVEL

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New Annual Dollar Volume Record Set at $3.2 Billion

WINNIPEG – 2012 has to be regarded as another exceptional year with sales only nudged out in 2007 and 2011 by the slightest of margins. Annual dollar volume resulted in moving the bar a little bit higher again and it is only the second time in WinnipegREALTORS® 109-year history where sales dollar volume has exceeded the $3 billion mark achieved in 2011. In only 5 years, the total MLS® dollar volume has increased 44%. This increase equates to nearly $1 billion.

While December MLS® sales fell short of last year’s record level for this month, the over 600 sales are still 5% above the ten-year average. There are enough of them to bring the year-end total sales to just over 13,000, a milestone level only reached twice before in 2007 and last year. Despite MLS® monthly dollar volume being well off 2011 December’s all time best; the annual dollar volume eclipsed the $3 billion record level established last year. New listings entered on MLS® were up slightly in December and finished the year ahead as well.

December MLS® unit sales decreased 12% (615/698) while dollar volume dropped 14% ($156.2 million/$182.0 million) in comparison to the same month last year. 2012 MLS® sales were down less than 1% (13,007/13,065) while dollar volume was up 5% ($3.20 billion/$3.06 billion) in comparison to 2011. The 18,704 listings entered on MLS® are up less than 2% over 2011 however are 12 % higher than the ten-year average.

“To finish as well as we did given tighter mortgage regulations and regular national media calls for softer real estate markets, it is testimony to the resiliency of the greater Winnipeg real estate market and our Manitoba economy in general,” said Shirley Przybyl, outgoing president of WinnipegREALTORS®. “While December was down from last year’s remarkable December performance, we still had 5 more $1 million plus sales including the highest one ever at $2.2 million.”

An encouraging development in 2012 was increased listing inventory to create more balanced market conditions.  Having said that, many Winnipeg neighbourhoods are still dealing with an extremely tight supply of active listings. In many respects, they have but a handful of listings left at the end of 2012. And that was no different last year. Winnipeg has been referred to as one of the tightest real estate markets in the country and has been for a prolonged period of time.

Helping in providing some relief this past year was the healthy addition of new single family and multi-family starts. They act as a safety valve for the resale market and in many instances create new existing inventory since buyers of new homes are putting their own homes on the market to sell in order to get the required equity from them to make a new purchase.

Where there is more breathing room is in the rural municipalities as there is not the same degree of demand so consequently their profile is one of more balanced supply and a better inventory situation as a whole. Yet the rural area continues to grow as a portion of total MLS® sales in the greater Winnipeg market region. In 2012, rural MLS® residential-detached sales comprised one out of every four transactions.  

“I cannot stress enough that while all real estate is local as is the case in WinnipegREALTORS® market region, it is still quite diverse in its make-up,” said Przybyl. “You really need to be talking to a REALTOR® who knows and understands how the different property types at the various price points are performing within neighbourhoods inside and outside Winnipeg.”

Speaking of property types, the one achieving the most success in 2012 was vacant land. It was up 25% in sales and now represents 5% of total MLS® market share. Single-family or residential-detached is still by far the most dominant at 73% and condominiums made up another 12% of MLS® sales.

The most active residential-detached price ranges in 2012 were the $250,000 to $299,999 and the $200,000 to $249,999 price ranges as they had 22 and 19% respectively of total sales.  Not far behind was the $150,000 to $199,999 price range at 16%. Worth noting is for the first time there were more sales in the highest price range bracket of $500,000 and above than the lowest from $0 to $99,999. It is also noteworthy to indicate the upper end market sales have never been so strong. There were over 400 in total and 24 of them sold for $1 million or higher. Two fetched $2 million or more.

The average days on market for residential-detached sales in 2012 was 28 days, just two days off the pace set in 2011. The highest sale price was a new record at $2.2 million, while the lowest only $8,000. The provincial land transfer tax levied on the highest priced home is more than five times the cost of the lowest priced home.

The most active condominium price range in 2012 was the $150,000 to $199,999 at 35%. A distant second was the next higher price range of $200,000 to $249,999 at 20%. In comparison to last year there were 18% less sales under $200,000.

The average days on market for condominium sales in 2012 was 34 days, 5 days slower than 2011. The highest sale price was $925,000 while the lowest was $20,000.

More details on the year that was in 2012 will be reviewed in more depth at WinnipegREALTORS® annual forecast event to be held on Wednesday, January 16^th. Predictions will be made for MLS® sales activity in 2013.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.

PRESS RELEASE

December 6, 2012

For Immediate Release

A NOVEMBER 2 REMEMBER

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2 Million Dollar House Sale 2^nd Highest Ever On MLS®

Winnipeg – While it may be the last quarter of the year with sales activity slowing down in comparison to the spring market, it was not the case for the upper tier of the residential-detached market. Five house sales all went for above $1 million with one commanding $2 million.

It is only the second time in WinnipegREALTORS® history in which a house has sold for $2 million or more. In 2006, another stately mansion home sold for $2,025,000. Despite November MLS® sales being down slightly less than 4% from the best November ever last year, the upper end residential-detached market of $500,000 or more saw an increase of 25% . There was even one condominium sale in November for $650,000.

November 2012 MLS® sales are only second to 2011 and 2007 where sales in the high 800s are virtually identical. Interestingly enough these are the two same years 2012 is competing with for the overall best year on record for total MLS® sales. With an extremely thin marginal lead over 2011 and behind by a little more than 1%  in sales generated in 2007, December 2012 will have to take advantage of and count on converting its far greater inventory of active listings than existed in 2007. By doing so, it will also edge out 2011 as well.

Despite sales being off the record level set last year in November the dollar volume for the second year in a row eclipsed $200 million and reached a new milestone for this month. It is also noteworthy that with a month to go, the year-to-date dollar volume has exceeded $3 billion for the second year in a row and will easily surpass last year’s level in early December.

November MLS® unit sales decreased 4% (847/881) while dollar volume was up 7% ($215.8 million/$202.1 million) in comparison to the same month last year. Year-to-date MLS® sales totaling 12,392 are in a virtual deadlock with 2011 with only 25 more units sold. However, year-to-date dollar volume is up 6% ($3.05 billion/$2.88 billion) in comparison to the same period a year ago. Listings entered on MLS® this year of 18,063 are up less than 2% over 2011.

“We said 2011 would be a hard act to follow and it has been just that,” said Shirley Przybyl, president of WinnipegREALTORS®. “Nevertheless we have still managed to keep pace on sales and increase our dollar volume due to modest overall price appreciation in our MLS® market.”

It is important to point out that even with MLS® unit sales being so similar in numbers to 2011 there are more differences than you would expect in the mix of different property type sales activity and variances within MLS® areas throughout the greater Winnipeg market region. For example, vacant land has experienced an increase of 25% this year and represents 5% of all MLS® unit sales.

The most active price range for residential-detached sales in November was the $200,000 to $249,999 price range at 23% of total sales activity. The next most active price range was from $250,000 to $299,999 at 18%.  There were as many sales over $500,000 as there were under $100,000.

The average days on market for residential-detached sales in November was 31 days, 3 days slower than last month and 4 days off the pace set in November 2011. The average days on market for condominium sales was 37 days, 5 days slower than last month and November 2011.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.

PRESS RELEASE

November 6, 2012

For Immediate Release

SECOND BEST OCTOBER ON RECORD

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MLS® Sales Up 4%; Dollar Volume Jumps 10%

WINNIPEG -   Only October 2007 surpasses this October in sales but dollar volume worth nearly $282 million, including three $1 million plus home sales and a $925,000 condominium, resulted in a new October dollar volume record. It also sets up an interesting finishing two months with a razor-thin lead in MLS® sales over 2011 and within 140 sales of the best year ever in 2007. New listings are positive with over 1,500 new properties put on the MLS® in October or 8% more than the same month last year. There are over 3,000 active MLS® properties available for purchase in November of which 1,748 are residential-detached or single family homes. Based on previous November listing entries, you can expect another 1,000 MLS® properties coming to market.

So buyers should be encouraged and also take some consolation knowing October had a two to one ratio of residential-detached sales going for below list price rather than for above list price. The same can be said for condominiums but to an even greater extent with 53% of October sales going for below list price and 21 per cent achieving above list price status. The remaining listings were sold at list price.

While a distant third with only 5% of total market share, vacant land has been a real standout MLS® property type this year with a 25 % increase in sales activity and a 48% increase in dollar volume. This result is indicative of the excellent year Manitoba home builders are having with starts well in excess of initial forecast expectations.

October MLS® unit sales increased 4% (1,118/1,076) while dollar volume went up 10% ($281.8 million/$256.9 million) in comparison to the same month last year. Year-to-date MLS® sales are up less than 1% (11,554/11,486) while dollar volume has increased 6% ($2.83 billion/$2.67 billion) in comparison to the same period a year ago. 17,000 listings have been entered on the MLS® up to the end of October, a nearly 2% improvement over 2011 and higher than previous years.

“We knew coming into the second half of 2012, especially the final two months, that we are up against some absolutely terrific all-time or near best monthly sales performances in 2011. So it will not be easy to maintain our slim lead to the end of the year,” said Shirley Przybyl, president of WinnipegREALTORS®. “On the other hand, we are confident in stating WinnipegREALTORS® will finish the year with its second consecutive $3 billion in MLS® sales activity and in all likelihood another annual dollar volume record.”

October 2012 points out once again why there is always emphasis from WinnipegREALTORS® to call a REALTOR®, a local market expert, to help you understand what is going on with respect to your property. Even within the same property type class, the difference in prices can be extreme. The highest-priced home sale was $1,500,000 whereas the lowest only $17,000. The difference in price is a multiple of 88 times.

“It behooves anyone dealing in such a dynamic and diverse market as Winnipeg’s, be it urban or rural, to enlist a knowledgeable professional before attempting to buy or sell a property.” said Przybyl.

The most active price ranges for residential-detached sales in October were a toss-up between the $200,000 to $249,999 and $250,000 to $299,999. Together they made up nearly 40% of total sales. Behind them at 16% of sales was the $150,000 to $199,999 price range.  This same price range comprised 32% of total condominium sales.

The average days on market for residential-detached sales was 28 days, 1 day off the pace set last month and 1 day quicker than October 2011. The average days on the market to sell a condominium was 32 days, 1 day off last month and six days slower than October 2011. Interestingly enough, if you remove the $925,000 sale which was on the market for nearly a year, the average days on market for condominiums this October would be the same as last October at 26 days.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.

PRESS RELEASE

October 5, 2012

For Immediate Release

SEPTEMBER NUMBERS DOWN ACROSS THE BOARD

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But Year-to-Date Remains Positive

WINNIPEG – After a roller coaster summer where inventory of available listings was up all three months over last year; new listings entered was up 2 out of 3 months, sales were down all three months; and dollar volume was up all three months – September started to show what other markets across the country have been reporting most of the year.

The number of listings available for sale in September – our inventory - was up 3.5% over the same month last year (3,396 vs. 3,280).

The number of new listings added to the inventory in September was down 3% (1,686 vs. 1742 last year); the number of sales recorded was down 14% (1,040 vs. 1,214); and that drop in sales created a decrease in dollar volume through the MLS® by 10% ($251 million vs. $278 million in September of 2011).

Days-on-market was even off a day for residential detached. This year it took 27 days on average to sell vs. 26 days last September. Condominiums averaged 31 days on the market.

But even all these negative numbers for the month couldn’t drop the year-to-date statistics into negative territory.

From January 1^st to September 30^th listings are up 1% (15,840 vs. 15,293); sales are up by just 17 units (10,427 vs. 10, 410); and dollar volume through the MLS® year-to-date is up 5% over last year’s record ($2.55 billion vs. $2.42 billion).

“We are watching the market carefully, especially since other markets across the country have been experiencing these kinds of drops in activity for a few months.” said Shirley Przybyl, President of the WinnipegREALTORS® Association.

“Other real estate boards are attributing the slow down directly to the Federal Government reducing the amortization period for mortgages from 30 years to 25 years in an attempt to ensure consumers’ debt load is controlled. Other markets have found that this adjustment negatively impacts first time buyers and causes demand to weaken.

“We will watch this closely as the year winds down to see if Winnipeg is starting to experience the same trend.

“But on the ‘glass is half full’ side of the discussion … with a little more inventory and the potential of reduced demand … maybe buyers will finally get a break from the decade-long sellers’ market and the market itself may realize a little more balance.” She went on to say.

Other markets are just releasing their own September statistics and reports are scary in places like Vancouver where they report a decline in residential property sales of 33% for September. But one month does not a market make and the Association will be analyzing the numbers with other organizations to determine if this month is the beginning of a trend or just an aberration.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.

PRESS RELEASE

September 6, 2012

For Immediate Release

AUGUST RECORDS BUSIEST MLS® SUMMER MONTH

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MLS® Dollar Volume Just Shy of $300 Million

WINNIPEG – There was no let up in August as it not only outperformed July but turned in a well above average performance for this time of year. It was only 4% off the most active August on record in 2005. Dollar volume was the highest it has ever been for August with close to $300 million in real estate transactions. 36% of the entire inventory turned over and that was with a healthy dose of new listings coming on the market.

August MLS® unit sales decreased by less than 4% (1,241/1,290) while dollar volume was up almost 1% ($298.7 million/$296.6 million) in comparison to the same month last year.  Year-to-date MLS® sales are ahead by 2% (9,387/9,196) while dollar volume has increased 7% ($2.30 billion/$2.14 billion) compared to the same period last year.  Listings entered on the MLS® this year are also trending higher than previous years at this point in time.

“We are bucking a national trend which points to moderating local real estate markets,” said Shirley Przybyl, president of WinnipegREALTORS®. “With the most active real estate months behind us now our MLS® sales are right in line with our best historic results for 8 months and still ahead of last year’s impressive pace.”

“If we have learned anything from what has happened in Winnipeg over the last few years it is one resilient housing market that continues to perform remarkably well.”

The most active price range for residential-detached sales continues to be the $250,000 to $299,999 price range with 22% of total sales. Although the next lower price range from $200,000 to $249,999 was close behind at 21%.  August 2012 showed how diverse WinnipegREALTORS® housing market is with house sales of $850,000 and $15,000.

Condominium sales activity is most prevalent in the $150,000 to $199,999 price range with 33% of total sales.

Average days on market for August residential-detached sales was 29 days, 3 days slower than last month and one day slower than August 2011. Average days on market for condominium sales was 34 days, a full week quicker than July, but 4 days slower than August 2011.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.

PRESS RELEASE

July 6, 2012

For Immediate Release

JUNE MLS® SALES AND DOLLAR VOLUME LEVEL OFF

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Sales Down 2%; Dollar Volume Even

WINNIPEG – After a spectacular May when sales went over 1,600 for the second time in WinnipegREALTORS® MLS® sales history, June sales and dollar volume activity settled down in comparison.  Even for previous Junes when sales in the past five years have surpassed 1,500 June 2012 fell back under the 1,500 mark. However a new June dollar volume record was still set eking out a slight gain over last June.

Based on a ten-year running average for June sales, 2012 sales are still very respectable with 3% more sales activity. The best June in 2008 of 1,564 sales is only better than 2012 by less than 5% so there is a lot to be said for consistency in the month of June.

New listings coming onto the market in June showed a 4% improvement over last June with close to 2,000 new listings. The overall inventory of 3,357 MLS® listings is up by a 1% margin over 2011 for this time of year.

June MLS® unit sales were down 2% (1,487/1,516) while dollar volume was up less than 1% ($369.4 million/$367.9 million) in comparison to the same month last year. Year-to-date MLS® unit sales are up 4% (6,921/6,660) while dollar volume has risen 10% ($1.70 billion/$1.55 billion) in comparison to the same period last year. The equivalent of three out of every four listing new to the MLS® market in June sold and that statistic a strong conversion rate.

For the first half of 2012, MLS® sales are off less than 1% from the record pace set in 2007 while dollar volume is well ahead of the highest previous total in 2011.

“At the midway point of the year we are outperforming our forecast by a few percentage points but still need to bear in mind there are six months to go and we are up against impressive third quarter monthly results in 2011,” said Shirley Przybyl, president of WinnipegREALTORS®. “In my view consumer confidence is remaining firmly intact in our local market with Winnipeg being a rock of stability despite global economic uncertainty.”

For residential-detached sales in June, the most active price range was from $250,000 to $299, 999 with 24% of total sales. The three most active price ranges from $150,000 to $299,999 comprised 58% of total residential-detached sales. The highest sale price in June was $1,050,000. In stark contrast the lowest sale price was $29,000.

44% of all condominium sales in June fell within the $150,000 to $199,999 price range.  Both the $100,000 to $149,999 and $200,000 to $249,999 price ranges had 17% each of total condo sales. The average days on market for condominium sales was 27 days, one day faster than last month and five days slower than June 2011.

The average days on market for residential-detached sales was 24 days, the same pace as last month and one day off June 2011.    

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 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 786-8854.