Real Estate Information

PRESS RELEASE

 

July 9, 2015

For Immediate Release

 

  

AMONG THE BEST JUNE SALES PERFORMANCES ON RECORD

 

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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

PRESS RELEASE

June 4, 2015

For Immediate Release

 

  

SURGE IN NEW LISTINGS LEVEL OFF IN MAY

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Year-to- Date Sales Match 2014

 

WINNIPEG -       While still a large influx of new listings came onto the market in May, it was the first decrease over the same month the previous year in over two years. Just this year alone monthly increases have been significant (e.g. 33% spike in March over March 2014). 

 

One month does not make a trend. However, due to less inventory going into June and higher sales activity occurring in the spring market, the Multiple Listing Service® inventory has a supply of four months.  Altus Group, a leading national housing consulting firm which tracks local markets every month, states five months inventory of resale product is considered to be a “normal” market.

 

“Overall our local market is balanced and offers plenty of choice for discerning buyers to find their preferred property,” said WinnipegREALTORS® president David MacKenzie.  “Sellers on the other hand need to be realistic in their pricing as there is lots of competition from other similar properties.”

 

After five months of MLS® activity one in five single family home sales are achieving above list price results. Condominiums are more like one in ten with another 15% selling at list price.

 

Year-to-date MLS® sales of 4,993 are slightly ahead of last year while 1,455 sales recorded in May were 7% off the pace set in May 2014. MLS® inventory remains healthy at 5,751 listings while new listings coming on the market of 2,726 were down 1% over last May.

 

Residential-detached property sales this year are up 7% despite suffering a 5 % setback in May. Condominium sales are off 20% from 2014 but experienced 10% or half the annual percentage decrease in May. In terms of total MLS® market share, residential-detached sales represent 76% while condos are 12%.

 

May dollar volume of $410.0 million is one of only five months in WinnipegREALTORS® 112-year history to eclipse $400 million. It decreased 6.5% from May 2014. Year-to- date dollar volume of $1.37 billion is up 2% over last year and is the highest on record for the first five months.

 

President David Mackenzie said we should be pleased with another solid year so far. “The numbers speak for themselves and it is not trite to say ideal conditions exist within our local market to take advantage of such favourably low mortgage rates. Your REALTOR® can help you find what property best suits your needs.”  

The most active price range in May for residential-detached sales was $250,000 to $299,999 (23% of sales), followed by the $200,000 to $249,999 (16%) and the $300,000 to $350,000 (15%).

 

Average days on market was 25, the same as May 2014. The highest priced residential-detached sale was $1,405,000 and the least expensive sale was $35,000.

The most active price range for condos was $150,000 to $199,999 (31% of sales) followed by the $200,000 to $249,999 and the $250,000 to $299,999 price ranges (both at 18%). Days on market for condos was 41, compared to 30 last year. The highest priced condo went for $950,000 and the lowest priced sale was $60,000.

 

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

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

 

PRESS RELEASE

May 7, 2015

For Immediate Release

  

APRIL RESALE ACTIVITY HEALTHY

-          

Year-to-Date Statistics Positive Across the Board

 

WINNIPEG - The real estate market is either very, very good … or really, really suspect … depending on which headlines you choose to read.

 

It’s difficult to decide what’s really happening from the sound bites, but the numbers on the resale market for the first 4 months of the year paint a fairly rosy picture. Statistics for the first third of the year are up from comparable numbers last year, and last year recorded the 4^th best resale numbers in the past 20 years and the best dollar volume ever through the Multiple Listing Service®.

 

“Our numbers continue to support our Forecast Breakfast predictions.” said WinnipegREALTORS® President David MacKenzie. “In January we predicted that sales would be up 0-2% year-over-year and home prices would increase by the same amount. And the January through April activity bears that out and then some.”

                                             

The April MLS® listing inventory, the number of properties available for sale in Winnipeg, rose almost 36%. So buyers had more properties to choose from than last April (5,232), which indicates more balance in the marketplace.

 

Listings entered into the MLS® system were also up 23% over last April, with the addition of 2,837 properties this year.

 

Sales followed suit. The number of sales processed in the month was up close to 4% from last April, with 1,273 sales recorded. And dollar volume was up 8.8% at $362.3 million. 

 

The April numbers helped maintain positive year-to-date market stats. 8,336 listings have been entered on the MLS® system since January 1^st - up 25% from last year - and 3,538 sales have been recorded - up 4% from the same period in 2014.

 

The January through April dollar volume is up 6.5% at $962.4 million.

 

President David MacKenzie was positive about the market activity in the first 4 months: “We often say that real estate is local with national averages and trends meaning very little. Our market is OUR market. And even within our own market … activity is local. What’s trending in Island Lakes will not necessarily be mirrored in the North End. I know of some MLS® areas where offers are few and far between while in other pockets of the City, multiple offers are still happening.”

 

He went on to say that in April, 22% of residential detached homes sold for more that list price, 8.5% sold at list, while 69% sold below list.

 

For condominiums, almost 11% sold above list … 18% sold at list … and 71% sold below list.

 

The most active price range in April for residential detached homes was $250,000 - $299,999 (22% of sales), followed by the $200,000 - $249,999 range (16%).

 

Average days on the market was 27, compared to 26 last April. The highest priced residential detached sale fetched $1,590,000 and the least expensive sale was $8,000.

 

The most active price range for condos was $150,000 - $199,999 (25% of sales) followed closely by the $200,000 - $249,999 range (22%). Days on market for condos was 49, compared to 38 last year with the highest priced condo going for $630,000 and the lowest priced sale at $244,579

 

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

March 5, 2015

For Immediate Release

                                                   

FEBRUARY MLS® ACTIVITY CONFIRMS REAL ESTATE IS ‘LOCAL’

-              -              -

Year-to-Date MLS® Statistics Up Slightly

 

WINNIPEG – There will be an excess of white noise from all media outlets across the country about real estate market activity in the first two months of the year.  We will be bombarded by new highs and lows from Toronto and Calgary and Vancouver … but the real story should address what’s happening in Winnipeg. If we want to know the weather, we don’t listen to the Toronto radio and TV feeds – we listen to our local experts. The same should be true about our real estate market.

 

February MLS® listing inventory, the number of properties available for sale in Winnipeg, rose 24%. So buyers had more properties to choose from than last February, which should indicate more balance in the marketplace.

 

Listings entered into the MLS® system were also up 18% over last February, with the addition of 1,535 properties.

 

The number of sales processed in the month was just 8 shy of last February, with 672 sales recorded (680 in 2014). And dollar volume was down 2% at $172 million vs. $176 million last February.

 

All in all, a balanced market that is keeping pace with last year and last year was a very decent real estate market in Winnipeg.

 

The February numbers helped maintain January’s quick start. Year-to-date numbers are still providing more choice for buyers while sales and dollar volume almost mirror last year’s numbers.  New listings added in the first two months are up 21% at 3,090 (2,549 in 2014), sales are up 1% over 2014 (1,260 vs. 1,245) and dollar volume is up .6% at $324 million vs. $322 million.

 

President David MacKenzie referred to the activity in the first two months and looked back at the Association’s Forecast Breakfast in January.

 

“We all realize that two months doesn’t make a market … or accurately indicate a direction. But at our Forecast Breakfast early in the year our experts told us that 2015 looked as if home sales would increase slightly over 2014 (up zero to 2%), home prices should increase the same 0-2%. Condo prices should increase a little more at 2-4% while dollar volume should increase slightly – around 1-3%.

 

“We will of course monitor the activity every month, but it looks like January and February have given us a solid platform on which to continue to build our crystal-ball projections.”

 

The most active residential-detached range in February was $250,000 to $299,999 at 22% of the market while the usual frontrunner price range of $200,000 to $249,999 fell back to second busiest at 17%. The average days on market for residential-detached sales was 34 days, one day quicker than February 2014.

 

For condominium sales activity in February, the $150,000 to $199,999 price range was the most dominant again at 33% of total sales with the $250,000 to $299,999 range capturing 23% of sales. The average days on market for condominiums in February was 48 days, 4 days slower than February 2014.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,800 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 5, 2015

For Immediate Release

                                                   

                                                A GOOD START TO MLS® SALES IN 2015

-              -              -

January MLS® Sales Up 4%

 

WINNIPEG - MLS® activity in January was very solid with the third highest sales total on record for this month.  It also ushered in a new January monthly dollar volume high of over $150 million.  New listings coming on to the market remain robust with a 25% increase over 2014. This increase is even more significant considering the rise in new listings is at 40% when you compare it to a ten-year average. Not surprisingly, active listings or the inventory available for buyers to choose from is up 25% as well over 2014.

 

January MLS® unit sales were up 4% (588/565) while dollar volume rose 4% ($151.6 million/$146.0 million) in comparison to the same month last year.

 

“At our annual forecast breakfast last month we said 2015 would be a more balanced market and January results bear this point out, “ said Dave MacKenzie, president of WinnipegREALTORS®.  “The healthy influx and overall supply of listings is keeping prices in check.   It therefore makes it more affordable for buyers wanting to capitalize on such favourable mortgage rates.”

 

Mackenzie added, “All real estate markets are local so national commentary about overheated Canadian real estate markets does not apply here. The law of supply and demand is solidly entrenched in Winnipeg’s market.”

 

Single family homes had a particularly strong month with an 11% increase over January however the upper end market was quieter than usual.

 

In January 2014 there were 2 homes sales of one million or more, 4 from $750,000 to $999,999 and 21 from $500,000 to $749,999. There were no sales this January of $1 million or more, 1 sale from $750,000 to $999,999 and 15 sales from $500,000 to $999,999. The next lower price range of $450,000 to $499,999 shows a distinct contrast with January 2015 outselling January 2014 by 9 sales or over 50% in comparison.

 

The single-attached property type which was flagged last year as one to watch given it offers more affordability than a single family home or condominium had a sales increase of 39% over January 2014.

 

“With supply levels well above the norm and mortgage rates so conducive to financing a property in light of the recent reduction of the Bank of Canada overnight rate from 1.0 to .75%, prospective buyers should be contacting their REALTOR® now to find out first- hand what possibilities exist for them to move ahead with a purchase,” said Mackenzie.

 

The most active residential-detached range in January was the $200,000 to $249,999 one at 22% while the usual frontrunner price range of $250,000 to $299,999 fell back to second busiest at 20%. The average days on market for residential-detached sales was 41 days, 2 days quicker than January 2015.

 

For condominium sales activity in January, the $150,000 to $199,999 price range was by far the most dominant at 37% of total sales with the next two higher price ranges each capturing 17% of sales. The average days on market for condominiums in January was 46 days, 1 day slower than January 2014.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,800 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

January 9, 2015

For Immediate Release

 

2014 ENDS ON A HIGHER SALES NOTE

-              -              -

December MLS® Sales Up 5%

 

WINNIPEG – While the increase in MLS® listings has been grabbing headlines in 2014 MLS® sales have still fared well. MLS® sales in December were up 5% over December 2013 and 3% above the 10-year average for December sales activity. As for annual MLS® sales, it was a repeat performance. When it was all said and done sales in 2014 fell shy of 2013 by only 42 sales (well under 1%). This makes 2014 WinnipegREALTORS® 5th highest year for MLS® sales. 

 

The widest margin in sales activity from the highest sales year in 2007 to 2014 is less than 2% so the top five years are all in a very narrow range.  2014 MLS® sales are also less than 2% ahead of the 10-year annual average of 12,631 sales.  

 

A similar trend is not the case for MLS® listings. This was especially evident in 2014 when current listings entered on the MLS® system each month were consistently up over the previous year and in many months the increases were in the double digits. At year-end the cumulative total of all the monthly current listings entered on MLS® was up nearly 12% at 22,842 listings. You have to go back to 1997 when there was roughly the same number of listings entered on MLS®. 

 

In terms of active listings or the inventory of MLS® listings that exist at the end of each month, they too were consistently up throughout the year.  The increase has been at least 20% and the average would be more in line with December’s month-end increase over December 2013 of 22%.

 

It is important to note, however, that the high of over 5,000 active listings which started in July and continued up until October is now sitting at 3,164 listings. The last time this many listings existed at year-end was 1998 when there were 3,174 listings available for sale heading into 1999.

 

Was a new annual dollar volume record established again for WinnipegREALTORS®?  Yes indeed a 2014 dollar volume of over $3.4 billion edged out last year’s record by less than 3%. 2014 marks the fourth year in a row dollar volume has exceeded the $3 billion mark.  2000 was the last year when MLS® dollar volume failed to reach a higher level than the previous year. As for the month of December, despite having higher sales than December 2013, dollar volume experienced a small decrease.

 

December MLS® unit sales increased 5% (616/587) while dollar volume dropped less than 2% ($163.9 million/$166.7 million) in comparison to the same month last year. 2014 MLS® unit sales were down less than 1% (12, 838/12,880) while dollar volume increased less than 3% ($3.42 billion/$3.34 billion) in comparison to 2013.

 

“Without a doubt 2014 resulted in a shift to a much more balanced market if not edging into a buyers’ market at times given the significant increase in active listings for sale every month,” said outgoing WinnipegREALTORS® president David Powell.

 

Powell added, “Depending on how you measure our MLS® market at year-end we are either firmly entrenched in a very competitive balanced market or favouring buyers given 5 months of MLS® listings supply is available for sale.  Evident from annual and December sales activity, sales remain strong so sellers just need to be a little more patient knowing there are more listings for buyers to choose from.”

 

December saw less than 10% of single family homes sell for above list price while 84% sold below list price. Condominium sales had a similar percentage of above list price sales. With a higher percentage of condominiums selling at list price compared to single family homes, just 63% went for below list price. December 2013 resulted in 15% of single family homes selling above list price and 67% selling below list price whereas condominiums were at 18% above and 54% below list price.

 

In looking more closely at how the various MLS® property types performed in 2014, the two preeminent ones outshone 2013. Condominiums reached a new benchmark high of just under 1,800 sales and finished the year over 7% higher than 2013. Residential-detached or single family homes eked out a 1% increase over 2013 with 9,336 sales.  Conversely, vacant lot sales decreased 29% and duplexes were off 17% from 2013 sales activity.

 

The residential-detached property type continues to dominate overall MLS® market share representing 73% of total sales. Condominiums which have grown in market share percentage in the past few years based on higher sale increases than residential-detached finished 2014 with a 14% market share.

 

“These year- end sales results for our two primary MLS® property types should dispel the notion because listings may be on the market longer due to increased competition there are not as many sales,” said Powell.

 

The most active residential-detached price range in 2014 was the $250,000 to $299,999 at 23% of total sales. The $200,000 to $249,999 price range was the second busiest at 18%. The price ranges immediately below and above these two ranges were both at 13%. The year -end pie chart is remarkably similar to the same percentage break-outs in 2013.

 

The highest residential-detached sale price was $2 million. Average days on market for residential-detached sales was 30 days, two days slower than 2013.

 

The most active condominium price range in 2014 was the $150,000 to $199,999 price range at 31%. Second busiest was the next higher price range of $200,000 to $249,999 at 22%.  2013 condominium price range sales activity was much the same. 

 

The highest condominium sale price was $1,750,000. Average days on market for condominium sales was 40 days, 5 days off the pace set in 2013.

 

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,800 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, please contact Peter Squire at 786-8854.

 

 

 

 

 

 

 

 

 

 

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, 2014

For Immediate Release

 

CHOICE GALORE FOR HOUSE SHOPPING IN DECEMBER

-              -              -

Over 4,000 MLS® Properties Available to Purchase

 

WINNIPEG - When Santa descends on Winnipeg and surrounding rural municipalities and cities such as Steinbach this Christmas he will see plenty of real estate signs. For vendors they will be wishing for a sold affixed to their sign. Buyers with more choice to find that perfect home may wish for the same on a house they are successful in securing before year end. 

 

2014 has been an extremely busy listing year with active MLS® listings at the end of November up 20% from 2013 and current MLS® listings or new ones coming on the market in November up 6% from last November.  Based on the average number of listings remaining for sale at the end of November over the last 10 years, there are approximately 1,500 more MLS® listings available for sale this December. This larger inventory has created buyers’ market conditions. It makes the word “comparable” take on increased meaning when there is this much more selection of properties to choose from in many years.

 

The potential for more sales is greater but November MLS® sales were right around the 10-year average of 828 sales. Supply is still carrying the day (over 22,000 MLS® listings entered on the MLS® this year) with demand lagging somewhat behind. Not to worry as MLS® sales in November were down less than 4% and year-to-date sales are less than 1% off the same period in 2013. Year- end MLS® sales are likely to finish fifth best on record while MLS® dollar volume will once again reach a new all-time high of close to $3.4 billion.

 

As for MLS® property types, condominium sales rebounded in November with an increase over the same month last year of 19% while residential-detached or single family homes was down 5% from November 2013. Vacant land which has experienced the largest decrease in sales activity of any property type in 2014 actually held its own in November with similar sales.

 

Only 12% of residential-detached sales in November sold for above list price while 80% sold below list price. For condominiums, nearly 14% of units sold went for above list price while 72% sold below list price.

 

When you examine the different quadrants of Winnipeg and the outlying rural municipalities, rural residential-detached sales led the way with nearly one in four sales and the southwest quadrant of Winnipeg was second with 20% or one in five sales.

 

To no surprise, condominium sales in November and throughout the year are most prevalent in the Osborne Village MLS® area. Other MLS® areas showing strong sales in November were the downtown, Tuxedo and the large MLS® area encompassing Royalwood, Island Lakes, Sage Creek and Southland Park. 

 

This month also resulted in the highest priced condominium to sell on WinnipegREALTORS®’ MLS®. It was a $1,750,000 condominium on Wellington Crescent. The previous highest was a $1.5 million condo sale in 2009.

 

November MLS® unit sales decreased less than 4% (831/863) while dollar volume was down less than 1% ($217.8 million/$219.3 million) in comparison to the same month last year. Year-to-date MLS® sales are down less than 1% (12,222/12,293) while dollar volume is up nearly 3% ($3.26 billion/$3.17 billion) in comparison to the same period last year. MLS® listings entered on the MLS® this year show a gain of close to 12% at 22,014.

 

“There is clearly a window of opportunity for buyers to seize a time when property selection is so good,” said WinnipegREALTORS® president David Powell. “Let’s not forget either how favourable interest rates remain with the Bank of Canada Governor Stephen Poloz keeping the benchmark overnight rate this month at 1%.

 

Powell cautioned buyers that not all MLS® areas in Winnipeg are sitting on excess inventory. A prime example is in Windsor Park where there were only 3 active residential-detached listings at the end of November after 9 sales this month. Fort Richmond mirrored Windsor Park with only 3 active listings going into December and 10 sales during November. So it is always best to consult a REALTOR® to advise you on the current market situation for the property type, price range and MLS® areas you are considering in your buying criteria.

 

In a bit of a departure from the norm, the most active residential-detached price range in November was from $200,000 to $249,999 at 21% of total sales where the next higher price range of $250,000 to $299,999 fell back to second at 19%. The average days on market to sell a home in November was 34 days, 2 days quicker than last month and the same pace as November 2013.

 

The most active condominium price range for sales activity in November was the $150,000 to $199,999 price range at 27%. Not far off at 20% was the $200,000 to $249,999 price range and a close third was from $250,000 to $299,999 at 17%. The average days on market for condominium sales in November was 46 days,  6 days slower than last month and two weeks  off the pace set in November 2013.                                                                                                                                

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,800 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, please contact Peter Squire at 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, 2014

For Immediate Release

 

OCTOBER MLS® SALES DOWN 7%

-              -              -

2014 MLS® Dollar Volume Surpasses $3 Billion

 

WINNIPEG – WinnipegREALTORS® experienced its fourth busiest October on record. It had over 1,100 MLS® sales which is 5% higher than the ten-year average for October and only 7% off the best October months in 2007 and 2013.  Dollar volume decreased slightly more than sales did in October as significant inventory is putting pressure on holding prices down. However, the second highest dollar volume for October was still enough to push year-to-date dollar volume over $3 billion for the first time with still two months to go.

 

MLS® listings remain an important development in how the market is evolving this year. New listings entered on the MLS® in October were up 7% while the active listings or current inventory heading into November has risen 21% over last year.  The three month streak of 5,000 MLS® listings going into the next month came to an end though with more than 4,600 MLS® listings available at present.

 

October MLS® unit sales decreased 7% (1,113/1,196) while dollar volume dropped 8% ($291.4 million/$316.7 million) in comparison to the same month last year.  Year-to-date MLS® sales are down less than 1% ( 11,391/11,430) while dollar volume is up 3% ($3.04 billion/$2.95 billion) in comparison to the same period last year.

 

“Given all the additional listings we have on the MLS® market this year it may appear and feel like we are not doing as well in terms of sales,” said David Powell, president of WinnipegREALTORS®. “This is not the case at all.  We are less than 3% off our best year to this date and have the highest dollar volume on record at over $3 billion. Buyers are realizing good opportunities exist to take advantage of all the choice and supply of listings in our current market.”

 

One of the impacts of higher inventory the last few months has been on condominium sales activity. Some of the empty nesters wanting to sell their bigger home and get into a condominium have experienced increased difficulty due to more competition from similar empty nester properties being placed on the market. This has resulted in a decline in condominium sales from what would have been expected otherwise. Of the 114 condominium sales in October only 5 sold for above list price with 4 out of 5 selling below list price.

 

The two leading property type sales categories of residential-detached or single family and condominiums are up 2 and 4 % respectively to the end of October. Vacant land sales are down 31% so are a drag on MLS® total sales.

 

For residential-detached sales in October the two price ranges of $250,000 to $299,999 and $200,000 to $249,999 were evenly split at 21% each of total sales. The $150,000 to $199,999 was next busiest at 13%. One home sold for $1,625,000 while another went for $35,000. The average days on market to sell a residential-detached property was 36 days, 3 days slower than last month and a week off the pace set in October 2013.

 

The most active condominium price range for sales activity was from $150,000 to $199,999 at 37%. Well back was the $200,000 to $249,999 price range at 21%. The highest sale price was $740,000. The average days on market for condominium sales was 40 days, the same as last month and 10 days less than October 2013.  

                                                                                                                                                                               

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,800 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, please contact Peter Squire at 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