Elmwood (Winnipeg, MB)
Elmwood (Winnipeg, MB) Real Estate News
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It Looks Like WinnipegREALTORS Will Set its 10th Consecutive Annual MLS® Dollar Volume Record!
Harry Logan (RE/MAX executives realty)

Winnipeg MLS Sales October 2010WINNIPEG - If this was an election it would be too close to call. On the final stretch drive with two months to go it is a dead heat in terms of MLS® sales compared to last year. There are only 28 more MLS® sales in 2010. However dollar volume is a different story. It is up 10% in comparison to 2009 and while sales do drop off at year end there should be no doubt WinnipegREALTORS® will set its 10th consecutive annual MLS® dollar volume record in 2010.  2001 finished with a dollar volume level just shy of the $1 billion mark. Ten years later the final amount could possibly reach $2.7 billion.

While sales have risen in the last 10 years the primary reason for the significant jump in dollar volume is price increases. The residential-detached or single-family home average price has gone from $100,000 to $242,000 while condominiums have soared even higher percentage-wise from $79,000 to a 2010 year-to-date average price of $197,000.

For October 2010, dollar volume is the highest on record for the month of October despite being outperformed in sales the previous five years.  New MLS® listings in October were ahead slightly and the active MLS® listings or the current inventory going into November has nearly 10 per cent more properties for buyers to choose from than in  2009.

October MLS® unit sales were down 3% (949/979) while dollar volume was up 6% ($214.2 million/$201.4 million) in comparison to the same month in 2009. Year-to-date MLS® unit sales are even with last year (10,754/10,726) while dollar volume is up 10% ($2.39 billion/$2.17 billion). Total MLS® listings entered on the MLS® this year are 17,744; an increase of 12% over 2009.Winnipegs Monthly MLS Sales

Relative to many other markets across the country Winnipeg is holding its own so we are clearly viewing our sales activity here as the glass half full.  For example Toronto's October sales declined 21%, Calgary's 35%, Edmonton's 29% and Vancouver's 37%.

For residential-detached sales in October, the most active price ranges were the $150,000 to $199,999 at 25% of total sales and the $200,000 to $249,999 at 23% of all sales. It is interesting to note for the first time in any month, let alone October, residential-detached sales over $500,000 represented the highest percentage they have ever been at 5% of total sales and were almost the equal of sales under $100,000.

The average days on market for residential-detached sales was 28 days, one day faster than last month and the same pace as October 2009. As for condominium sales, the average days on market for sales was 31 days, 2 days quicker than last month and October 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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Open House 3 Bedroom Home for Sale in Winnipeg Manitoba $139,900
Harry Logan (RE/MAX executives realty)

Winnipeg Open House

You'll love the tree lined street in this prime Glenelm location (River side of Henderson Hwy.) just 1 block from Glenelm Elementary School and Elmwood Park.  

100 Martin Ave. West, Winnipeg, Manitoba

This great 1,184 Sq. Ft. family home features 3 Bedrooms and 2 full baths, Hardwood floors, French Doors, a partially finished basement, a fenced yard, front and back porches, a High Efficiency Furnace installed in 2005 and mostly tri-pane windows.

Fridge, Stove, Washer & Dryer are all included as well.

A Terrific Neighbourhood to raise your Family! Don't Miss out on this great opportunity!

Book your appointment today or come to the Public Open Houses Wednesday September 29th 7:00 to 8:30 PM and Saturday October 2nd 2-4 PM.

You can also check out the Virtual Tour by Clicking Here

Call Harry Logan at 667-7653 for any questions or to book your private showing. 

Winnipeg House for SaleWinnipeg House for SaleWiWinnipeg House for SaleWinnipeg House for SaleWinnipeg House for SaleWinnipeg House for Sale


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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Winnipeg Real Estate Market MLS Statistics for June 2010 - Highest Dollar Volume - Ever!
Harry Logan (RE/MAX executives realty)

Winnipeg MLS Statistics for June 2010 When looking at the Winnipeg MLS Statistics for June 2010 you'll find that there is something to be said for consistency. Be it the second quarter as a whole or May and June in particular, MLS® market activity is very similar. Sales for May and June are ranked fifth best ever for their respective months, with dollar volume as the best ever. The average residential-detached sales price has remained firm since April to hover around the $250,000 mark. Activity within the different price ranges is similar too with both months each having a million dollar plus sale and more upper end sales.  

While sales have not been as busy as a few years ago, they are remaining solid and dollar volume continues to show year over year gains. 2010 marks the first time there have been three consecutive months (April to June) of over $300 million worth of MLS® sales activity. June 2010 is the highest dollar volume month on record at $329 million. You only have to go back to 2005 to see dollar volume for this month was less than $200 million. The previous two Junes also surpassed $300 million in sales activity.

June MLS® unit sales were down 4% (1,432/1,490) while dollar volume was up 6% ($329.2 million/$311.2 million) in comparison to the same month last year. Year-to-date MLS® sales are up 6% (6,452/6,096) while dollar volume has risen 17% ($1.45 billion/$1.24 billion) over the same period in 2009. MLS® listings entered on MLS® for the first six months went over 10,000 and are ahead by 4% over last year. This increase in listings has helped create more balance in the market.

Most revealing when examining the numbers in June is how there are fewer first-time buyers entering the market in comparison to last year as homes selling under $200,000 were down 32% from June 2009.  Homes selling under $100,000 on average took more than twice as long to sell than the overall average days to sell in June.

When we asked, 75% of our REALTOR® members said housing affordability is becoming more of an issue in finding homes buyers want.  Based on the significant drop off in sales in the lower price ranges, first-time buyers have to be one of the key market segments our members are concerned about. Fewer of them are buying and the ones that are, more often than naught end up buying homes or condominiums above $200,000.

Based on the first two quarters of 2010 MLS® sales activity, it is becoming more evident when looking at the various MLS® areas how the average area residential-detached sales prices are shifting to higher levels. Only two MLS® areas now, the heart of the North End and downtown, have homes on average selling for under $100,000. Even MLS® areas with average home sale prices from $100,000 to $200,000 are less frequent. For example, only Fort Rouge in southwest Winnipeg and Old St. Vital in southeast Winnipeg are still under $200,000.

As for condominium average sale prices, the majority of MLS® areas throughout Winnipeg and the rural municipalities remain under $200,000. 

On the higher end of the price spectrum, Tuxedo for the first time has a year-to-date average sales price of over $600,000 and South Headingley is not far behind at $560,000.

For the first six months of 2010, homes selling for above list price and below list price are evenly split at 45% with the remainder selling at list price. For condominiums, units selling under list price are closer to 50 % while those selling over list price are at 30%.

For residential-detached sales in June, the most active price range was the $200,000 to $249,999 at 24% of total sales. Nearly two out of three sales were over $200,000. The average days on market for sales of residential-detached listings was 23 days, 2 days slower than last month and 2 days quicker than June 2009. 

Condominium sales were predominant in the $150,000 to $199,999 price range with 44% of total sales and the next lower price range of $100,000 to $149,999 was a distant second at 20%. The average days on market in June fell back to 33 days from 27 the previous month and 29 days in June 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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