East Elmwood (Winnipeg, MB)
East Elmwood (Winnipeg, MB) Real Estate News
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Winnipeg Real Estate Market MLS Statistics for February 2011 - The Temperature is COLD But the Real Estate Market is HOT, HOT, HOT!!!
Harry Logan (RE/MAX executives realty)

WINNIPEG - Manitoba Merv saw his shadow and predicted 6 more weeks of winter. If you're a seller - you can only hope we have 6 more weeks of real estate market like we did in February!

Despite the unseasonably cold February, 1,313 sellers put their houses on the WinnipegREALTORS® Multiple Listing Service® in the month (up 12% from last February) ... and 781 sellers sold their properties through the MLS® (up 10% from February 2010).

As a result of 1313 new listings being added in the month - the listing inventory available for sale in Winnipeg rose to 2,450 units - up 16% from last year's inventory. So there are more houses to choose from for buyers - the second highest inventory of resale homes in the past 5 years.

And with all those sales and home values escalating - the dollar volume for the month is also up 14% from last year at $171 million - and last February was a record February for dollar volume!

With great February numbers, the impact on year-to-date is nothing but positive. Listings in January and February are up 14% from the first two months of 2010. 2,454 homes have been listed on Winnipeg's MLS® since the start of the year, and there have been 1,347 sales - up 12% from last year.

Dollar volume is already at $296 million - up 17% from last year's two month activity.

20% of all residential detached sales were under $150,000. On the upper end of the scale, 22% of the sales were above $300,000 (including 5% over $500,000).

That leaves 58% of the residential detached market selling between $150,000 and $300,000. (22% between $150,000 and $200,000. 20% between $200,000 and $250,000. 16% between $250,000 and $300,000.)

And days on market for residential detached dropped to 26 days - 3 days fewer than February 2010.

The condominium market is healthy as well. There were 96 condo sales in February - 20% were under $150,000 ... 18% were over $250,000 ... 62% were between $150,000 and $250, 000. Days on market for condominiums averaged 24 days compared to 29 days last February.

The highest priced condo sale in February was $383,000 and the lowest priced was $72,000. The highest priced residential detached sale was $880,000 and the lowest was $25,000.

WinnipegREALTORS® president Ralph Fyfe reported on the positive February and year-to-date numbers. Fyfe said, "We never put too much stock in one or two month's numbers. We wait for the results of a quarter or two to start to try to identify trends. But this year's February numbers and year-to-date stats seem to be an early confirmation of what our analysts predicted in our January forecast breakfast for 2011.

"In January our forecasters predicted home sales will increase 0-2% over last year, Home prices will be up 7-9% (condos up 6-8%) and total dollar volume will increase 9-11%. January and February activity has certainly pointed us in that direction."


About the Author:

Harry Logan is a REALTOR with RE/MAX executives realty in Winnipeg, Manitoba, Canada. Harry represents Buyers & Sellers in all aspects of buying and selling residential real estate and commercial real estate in Winnipeg, Manitoba and the surrounding areas.

Harry can be reached at 204-667-SOLD (7653) or through his websites. Click here for Harry's Winnipeg residential real estate website or click here for Harry's Winnipeg commercial real estate website.  

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Nearly One-Quarter of $1 Billion Transacted on Winnipeg's MLS® in September
Harry Logan (RE/MAX executives realty)

Winnipeg MLS Statistics for September 2010WINNIPEG - It took until the month of September last year to set a new sales and dollar volume MLS® record in comparison to the same month the year previous. Ditto for 2010. Like athletes vying for new records in the Olympics or Commonwealth Games, September 2010 sets the bar higher again for what September 2011 will have to achieve if there is to be a new MLS® sales record for this month. It was noted summer was a little slower than usual this year so it certainly appears cottagers and vacationers entered the fall market in larger numbers than 2009.

In fact, this is the case. While conversion of sales to new listings was very similar to 2009 at 70 and 73% respectively, listings entered onto the MLS® in September 2010 were up 6%. It was enough for total MLS® sales to edge out the best September previously in 2009. The dollar volume difference was more pronounced at close to 10% higher. It becomes that much more significant when you look back five and ten years. The increase is 72 and 349% respectively.

September MLS® unit sales were up 1% (1,142/1,127) while dollar volume was up 9% ($248.0 million/$227.6 million) in comparison to the same month in 2009. Year-to-date MLS® sales are up less than 1% ( 9,805/9,747) and dollar volume has risen 10% ($2.18 billion/$1.97 billion) in comparison to the same period last year. Total MLS® listings entered on the MLS® this year are 16,481, a 13% increase over the same period in 2009.

More listings are helping create a more balanced market to keep a lid on house prices, The average house price has been consistently in the 230s on a monthly basis in the third quarter of 2010, down from the high 240s in the second quarter. On a year-to-date basis, it is up 11%.

Winnipeg's resurgence in the last month of the third quarter and good economic fundamentals sets the stage for a good October.

We are in a bit of a sweet spot at this time with favourable mortgage rates, more listings, strong sales and prices holding firm. Our glorious autumn summer weather can only help encourage prospective buyers to get out and view present and new listings coming onto the MLS® market.

For residential-detached sales in September, the most active price ranges were the $200,000 to $249,999 and the $150,000 to $199,999 with 23 and 19% respectively of total sales. The $250,000 to $299,999 and the $100,000 to $149,999 price ranges each had 14% of residential-detached sales. The average days on market for residential-detached sales was 29 days, one day quicker than last month and September 2009.

Three out of every four condominium sales in September were from $100,000 to $249,999 with 32% from $150,000 to $199,999 and 25% were from $100,000 to $149,999. The average days on market for condo sales was 33 days, one day quicker than last month and three days off pace set in September 2009.

 


About the Author:

Harry Logan is a REALTOR with RE/MAX executives realty in Winnipeg, Manitoba, Canada. Harry represents Buyers & Sellers in all aspects of buying and selling residential real estate and commercial real estate in Winnipeg, Manitoba and the surrounding areas.

Harry can be reached at 204-667-SOLD (7653) or through his websites. Click here for Harry's Winnipeg residential real estate website or click here for Harry's Winnipeg commercial real estate website.  

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