APRIL 2013 REAL ESTATE SUMMARY

April Real Estate activity was a good news…not so good news story. The good news is that there is more inventory on the market than there has been for years. The not so good news is that there are fewer lower priced homes for sale than last year. For example, there are 16 % fewer listings available under $250,000 and 11% fewer under $300,000 than last year. The converse is true as well. In the $450,000 to $499,999 price range there are 45% more listings this year than 2012. Fortunately for those buyers seeking more affordable priced listings condominiums offered more choice than last year with a 29% increase in active listings under $300,000. This improvement in more affordable housing supply translated directly into a 29% increase in condominium sales.

April sales decreased 7% while dollar volume fell off only 3% in comparison to the same month last year. Year-to- date MLS® unit sales are down 11% while dollar volume has decreased 5% in comparison to the same period last year. The most active residential-detached price range was the $250,000 to $299,999 price range at 23% of total sales. Interestingly enough, this is the same percentage covering off all sales under $200,000 with just 2% selling for under $100,000. For condominiums, the $150,000 to $199,999 price range remains dominant at 37% however the $200,000 to $249,999 has increased its share to 23% of total condominium sales. The average days on the market for residential-detached property sales in April was 26 days, two days quicker than last month and the same pace as April 2012. Average days on the market for condominium sales was 29 days, two days slower than last month and 8 days faster than April 2012.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

MARCH 2013 REAL ESTATE SUMMARY

March 2013 MLS sales were down 26% compared to March 2012. 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 a March where sales were lower than March 2013. However, listings were not the issue as new listings coming on the market in March were down less than 7%. 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.

March MLS unit sales decreased 26% while dollar volume was off 15% in comparison to the same month last year. Year-to-date MLS unit sales are down 13% while dollar volume dropped 6% 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. 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.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

Whether it was some rather harsh winter weather conditions or just softening in the local marketplace for this time of year, there was a drop off of new listings (12%) and sales (11%) in February. 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 in February to precipitate less sales activity is there were fewer home owners willing to put their homes on the market and thus fewer sales. A sign of less demand this February was the percentage of sales that went for over list price. In single family homes, 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 We are still condominium sales activity with a drop in sales above list price from 31% to 24%.

“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. 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.

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.  

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

JANUARY 2013 REAL ESTATE SUMMARY

January 2013 was the best January in 16 years and a great kick start to the year with the second best unit sales on

record. Not surprisingly, a new monthly dollar volume record was set as well, given better than average sales and prices remaining firm. A real impetus behind these strong sales was an 11% increase in listings. These were a

welcome addition to the existing inventory and gave buyers more options to choose from. Condominiums sales stood out with a 26% increase over the same month last year and vacant land continued its torrid pace from 2012 with a 43% jump. “This January’s result is encouraging and indicates strong market fundamentals are well in play as has been the case in recent years,” said Richard Dettman, president of WinnipegREALTORS®. “All markets are local to a large extent, so to ascribe a national market perspective to Winnipeg would be ill-advised at this point.” “Our increase in new listings and having a larger inventory overall in comparison to the last few years at this time has created more balance in our market,” said Dettman. “Buyers should find some positive news in this emerging trend.”

January sales were up 9% while dollar volume climbed 10% in comparison to the same month last year. The most

active residential-detached price range was from $150,000 to $199,999 at 21%. The $200,000 to $249,999 price range captured 18% of the market while $250,000 to 299,999 registered 19%. For condominiums, the $150,000- $199,999 price range led the way at 37% of total sales. The average days on market for residential-detached sold properties was 44 days, two days slower than January 2012. The average days on market for condominiums was 41 days, six days slower than January 2012.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

2014 City of Winnipeg General Assessment of Your Property Value

As part of the 2014 General Assessment the value of all residential properties in the City of Winnipeg are

currently being reassessed to April 1, 2012 market values. If you have not received your new assessment in the mail yet, you will in February. Before the last assessment in 2012 (based on values determined in 2010),

assessments were on a four year cycle, now the city is doing assessments on a 2 year cycle.

The question is: will your property taxes increase based on the proposed assessment? The City of Winnipeg website indicates: if your property value increased above the city-wide average then they may go up, if they increased below the city-wide average they may go down, if they increased at the city-wide average they should remain unchanged. Therefore, the assessed value of your property is the determining factor in your

future property taxes.

Should you not be in agreement with the General Assessment, the city will be providing property owners an opportunity to discuss the proposed market value and to present any opposing relevant information to them prior to the General Assessment notices being mailed in June 2013. You will have the right to appeal the

General Assessment notice when you receive it if you still wish to.

The strength of your discussions with the city and any appeal you may launch will be based on the

information you present. As a Realtor I have access to all of the residential sales data throughout the city, which most certainly will assist you in determining the market value of your home for the assessment date of April 1, 2012. I would be happy to provide that data to you as a complementary service. I personally have

successfully appealed my assessment several times in the past. I would be happy to provide you any advice or information you require to deal with the City of Winnipeg 2014 General Assessment, feel free to contact me at any time.

2014 City of Winnipeg General Assessment of Your Property Value

As part of the 2014 General Assessment the value of all residential properties in the City of Winnipeg are

currently being reassessed to April 1, 2012 market values. If you have not received your new assessment in the mail yet, you will in February. Before the last assessment in 2012 (based on values determined in 2010),

assessments were on a four year cycle, now the city is doing assessments on a 2 year cycle.

The question is: will your property taxes increase based on the proposed assessment? The City of Winnipeg website indicates: if your property value increased above the city-wide average then they may go up, if they increased below the city-wide average they may go down, if they increased at the city-wide average they should remain unchanged. Therefore, the assessed value of your property is the determining factor in your

future property taxes.

Should you not be in agreement with the General Assessment, the city will be providing property owners an opportunity to discuss the proposed market value and to present any opposing relevant information to them prior to the General Assessment notices being mailed in June 2013. You will have the right to appeal the

General Assessment notice when you receive it if you still wish to.

The strength of your discussions with the city and any appeal you may launch will be based on the

information you present. As a Realtor I have access to all of the residential sales data throughout the city, which most certainly will assist you in determining the market value of your home for the assessment date of April 1, 2012. I would be happy to provide that data to you as a complementary service. I personally have

successfully appealed my assessment several times in the past. I would be happy to provide you any advice or information you require to deal with the City of Winnipeg 2014 General Assessment, feel free to contact me at any time.

2012 REAL ESTATE SUMMARY

2012 was another exceptional year for MLS home sales volume in Winnipeg exceeding 3 billion dollars. This is up by more than 44% in only 5 years. Unit sales were 13,007 which was the second highest ever; total listings taken were 18,704, the most ever and 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

Winnipeg Real Estate market and our Manitoba economy in general,” said Shirley Przybyl, outgoing president of WinnipegREALTORS®. Another encouraging development in 2012 was increased listing inventory to create more

balanced market conditions. However, Winnipeg neighbourhoods are still dealing with an extremely tight supply of active listings. 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. 

The most active residential-detached price ranges in 2012 was $250,000 to $299,999 and $200,000 to $249,999 price ranges they had 22 and 19% respectively of total sales. Then the $150,000 to $199,999 price range at 16%. 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. Upper end market sales have never been so strong, 24 homes sold for $1 million or higher and two fetched $2 million or more. The average days on market for residential-detached sales in 2012 was 28 days. The highest sale price was a new record at $2.2 million, while the lowest only $8,000. The most active condo price range in 2012 was the $150,000 to $199,999 at 35%. Second was the price range of $200,000 to $249,999 at 20%. The average days on market for condo sales in 2012 was 34 days. The highest sale price was $925,000 and the lowest was $20,000.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

Real Estate Sales in Old St. Vital produced 3 sales last week which is very good for the first week of December.Two of the three homes that sold in Old St. Vital went for under list and one sold for more than asking. Homes on St. George Road and Pilgrim Avenue sold for $1,900 and $7,900 less than asking respectively when they sold for $168,000 and $225,000. The home that sold for over list was on Berrydale Avenue and it brought $15,100 over list when it sold for $235,000.

What’s your St. Vital home or condo worth?  Visit MyStVitalHomeValue.com for a complimentary over the net home or condo evaluation.

Currently there are 11 homes for sale in Old St. Vital ranging in price from $124,900 to $465,000. The new residential listing this week in Old St. Vital is located at 33 Clonard Avenue and is listed for sale at $124,900. There were no new condominium listings or sales over the past week in Old St. Vital. There are currently two condominiums for sale in Old St. Vital listed at $149,900 and $221,900.

If you would like more information on homes for sale in Old St. Vital call (204) 955-0500 or contact me at BrendenMorgan.com.

Track the Winnipeg real estate market! Free Automated e-mail service allows you to track the MLS market in real time. Follow the values in any neighbourhood in Winnipeg. Find out what your neighbour’s house down the street sold for. Follow MLS listings in real time. Visit WinnipegRealEstateTracker.com.

Since November 14 there have been two residential sales in the Elm Park, Norberry, Van Hull Estates, River Pointe, Pulberry, Bright Oaks, and Normand Park neighbourhoods. A home on Golden Willow Crescent sold for $8,100 over list when it closed at $268,000, and a home on Rosewarne Avenue sold for $17,400 less than asking when it changed hands at $277,500.

What’s your St. Vital home or condo worth?  Visit MyStVitalHomeValue.com for a complimentary over the net home or condo evaluation.

There were three new residential listings in Elm Park, Norberry, Van Hull Estates, River Pointe, Pulberry, Bright Oaks, and Normand Park over the past week.

New listings:

• 138 Woodlawn Avenue, $289,900
• 55 Oakridge Bay ,  $275,711
• 19 Norberry Drive, $189,900

Currently there are 13 residential properties for sale in Elm Park, Norberry, Van Hull Estates, River Pointe, Pulberry, Bright Oaks, and Normand Park, ranging in price from $189,900 to $1,288,800.  There are also three condominiums for sale ranging in price from $144,900 to $430,000, and two vacant lots priced at $36,000 and $190,000.

If you would like more information on homes for sale in Elm Park, Norberry, Van Hull Estates, River Pointe, Pulberry, Bright Oaks, and Normand Park call (204) 955-0500 or send a quick email to: BrendenMorgan.com.

Track the Winnipeg real estate market! Free Automated e-mail service allows you to track the MLS market in real time. Follow the values in any neighbourhood in Winnipeg. Find out what your neighbour’s house down the street sold for. Follow MLS listings in real time. Visit WinnipegRealEstateTracker.com.

OCTOBER REAL ESTATE SUMMARY

Only October 2007 surpasses October 2012 in unit sales and a new October dollar volume record was set last month. Included in those sales were three $1 million plus homes and a $925,000 condominium. New listings were up with over 1,500 new properties put on the MLS® in October or 8% more than the same month last year. Buyers should be encouraged to know that 53% of October sales sold below list price, 21% sold above list price and the remaining sales 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 unit sales increased 4% while dollar volume went up 10% in comparison to the same month last year. Year-to-date sales are up less than 1% while dollar volume has increased 6% 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.

In terms of activity versus price range this is the break down for October: 31% of home sales were between 0 and $200,000, 39% were between $200,000 and $300,000 followed by 8% from $300,000 to $400,000, then 7% between $400,000 and $500,000 and homes over $500,000 accounted for 5% of sales. The average days to sell a house in

October were 28 days and the average days to sell a condominium were 32 days.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

Overall September Winnipeg Real Estate numbers are down.  The number of new listings added to the inventory in September was down 3% compared to September of last year. The number of sales recorded was also down 14% compared to last September 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. Even with all these negative numbers for the month of September the year-to-date statistics are positive. When compared to 2011 for the period January 1st to September 30th, this years listings are up 1%,  sales are up by just 17 units and dollar volume through the MLS® year-to-date is up 5% over last year’s record.

Once again the most popular price range for sales last month was the price range between $200,000 - $300,000 with 42% of sales, followed by $300,000 - $400,000 with 19% of sales, then $0 - $200,000 with 28% of sales, $400,000 - $500,000 with 7% of sales, and lastly over $500,000 with 4% of sales. Days-on-market was even off a day for residential detached. This September it took 27 days on average to sell vs. 26 days last September. Condominiums averaged 31 days on the market.

Other markets across the country have been experiencing these kinds of drops in activity for a few months and 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. The good news is that 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.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs

AUGUST REAL ESTATE SUMMARY

There was no let up in the August Real Estate market as sales outperformed July and turned in a well above average

performance for this time of year. Sales were 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. There was also a healthy dose of new listings coming on the market. We are bucking a national trend which points to moderating local real estate markets. Winnipeg over the last few years has shown it is one resilient housing market that continues to perform remarkably well.

August MLS® sales decreased by less than 4% while dollar volume was up almost 1% in comparison to the same month last year. Year-to-date MLS® sales are ahead by 2% while dollar volume has increased 7% 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.

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.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

JULY REAL ESTATE SUMMARY

When it came to the finish line last month MLS® sales fell short by less than 2% or 21 sales over the same period in 2011. Dollar volume was the reverse as July 2012 eked out a narrow victory over July 2011 by a little over $6 million or 2%. Fastest to the finish line in record fashion is the year-to-date dollar volume. Never before has Winnipeg

REALTORS® in its 109-year history transacted $2 billion in MLS® sales, which it did in the first seven months of this year. As for year-to-date listings entered on the MLS® system, another tight race is emerging with 2012 just

going over 12,000 listings. 2011 was still under 11,800 listings by the end of July. July MLS® unit sales decreased by less than 2% while dollar volume was up 2% in comparison to the same month last year. Year-to-date MLS® sales are ahead by 3% while dollar volume has increased 8% compared to the same period last year.

The most active price range for residential-detached sales continues to be the $250,000 to $299,999 price range with 23% of total sales. Not far behind are the two lower price ranges from $200,000 to $249,999 and $150,000 to $199,999 with 19 and 17% respectively. July 2012 showed how diverse WinnipegREALTORS® housing market is with house sales of $1,329,000 and $12,500. Condominium sales activity is most prevalent in the $150,000 to $199,999 price range with 35% of total sales. Average days on market for July residential-detached sales was 26 days, 2 days slower than last month and a dead heat with July 2011. Average days on market for condominium sales was 41 days, a full two weeks slower than last month and July 2011.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

JUNE REAL ESTATE SUMMARY

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. June 2012 sales were just under the 1,500 mark. However a new June dollar volume record was still set. The best June ever was in 2008 with 1,564 sales. New listings coming onto the market in June showed a 4% improvement over last June with close to 2,000 new listings.

June MLS® unit sales were down 2% while dollar volume was up less than 1% in comparison to the same month last year. Year-to-date MLS® unit sales are up 4% while dollar volume has risen 10% in comparison to the same period last year. “At the midway point of the year we are outperforming our forecast by a few percentage points 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.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

MAY REAL ESTATE SUMMARY

Monthly Dollar Volume Eclipses $400 million for First Time: May 2012 saw over 1,600 sales in total – making it the second best May ever next to may 2007. A fabulous month indeed and it demonstrates buyers are as active as ever in taking advantage of exceptionally low mortgage rates and one of the most affordable major real estate markets in the country. There have now been two consecutive months where residential-detached sales in the over $500,000 price range have significantly outnumbered the under $99,999 price range. When you compare May 2012 to May 2011 MLS® unit sales increased 10% while dollar volume went up 17%. Year-to-date sales are ahead of 2011by 5% while dollar volume has risen 12% in the first five months. Not surprisingly given the strength of the MLS® market in May, there were more homes that sold for above list price than below list price.

For residential-detached sales in May, the most active price range was from $250,000 to $299,999 with 24% of total sales activity. Dropping back in market share but still second is the $200,000 to $249,999 price range at 17%. Two-thirds of all sales are from $150,000 to $300,000. 30% of condominium sales fell in the $150,000 to $199,999 price range but the next laddered range of $200,000 to $249,999 is growing in market share with 21% of total sales.

Average days on market for residential-detached sales was 24 days, two days quicker than last month and two days off the pace set in May 2011. Days on market for condominium sales was 28 days, 9 days faster than last month and the same rate as May 2011.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

APRIL REAL ESTATE SUMMARY

Along with significant sales and dollar volume increases in April, listings came roaring back too compared to the same month last year. Listings entered on the MLS® system this year are up 5% with well over 6,000 listings. It is no coincidence then that sales are ahead of last year as eager buyers take advantage of fresh inventory to choose from. Year-to-date sales which had fallen behind last years numbers at the end of the first quarter, are now back in the lead and dollar volume widened its gain over 2011 by a 10% margin. April sales and new listings increased 17% over April 2011 while dollar volume went up 25% in comparison to the same month last year. Year-to-date sales are up 4% while dollar volume has risen 10% in comparison to the same period last year.

For residential-detached sales in April, the most active price ranges was the $200,000 to $249,999 and $250,000 to $299,999 price ranges. They were only two sales apart and each contributed 20 % of total sales. It may be time to fold the $0 to $99,999 price range into the next higher one as it only represented 3% of all sales in April. As for condominium sales activity, while the $150,000 to $199,999 price range is still dominant with 34% of total sales, you are starting to see more of a shift towards the $200,000 to $249,999 price range as it grabbed another 21% of condominium sales in April. Average days on market for residential-detached sales was 26 days, one day slower than last month and the same pace as April 2011. Days on market for condominium sales was 37 days, 6 days off the time set last month and 3 days slower than April 2011.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

                                                              MARCH REAL ESTATE SUMMARY

First quarter sales and dollar volume market activity are virtually the same as the first quarter of 2011. This result can be viewed positively given last year’s first quarter performance was the best in WinnipegREALTORS® history. First quarter sales are down 2% while dollar volume is up 3% in comparison to first quarter of 2011. March sales were down 4% while dollar volume as well decreased 4% in comparison to the same month last year. Keep in mind there was a real impetus last year to buy earlier than other years given the change in the amortization period from 35 to 30 years and yet we are still close in sales transacted thus far in 2012. There is a real opportunity to catch up next month as April 2011 was negatively affected by the 2011 flood where listings and sales fell off from what you would normally expect for this spring month. Going into April, there are 17% or more than 200 active residential-detached listings available for sale than was the case at the end of February. Helping increase supply was the 5% increase in new listings coming on to the market in March.

For residential-detached sales in March, the most active price ranges were from $200,000 to $249,999 and from $250,000 to $299,999 at 20% each of total sales. Next busiest price range was from $150,000 to $199,999 at 15%. The average days on market to sell for the most active price ranges was only 17 days. The average days on market for all residential-detached listings was 25 days, 3 days faster than last month and one day slower than March 2011. The average days to sell for condominiums in March was 31 days, three off the quicker pace set last month but 4 days quicker than March 2011. The most active price range by a wide margin in March for condominium sales was from $150,000 to $199,999 with 36% of total sales.

I am available at anytime to discuss the Real Estate market. Get the FACTS. Whether buying, selling or if you just have questions, call me. I would be pleased to assist you, your friends or your family with your Real Estate needs.

FEBRUARY REAL ESTATE SUMMARY

OCTOBER REAL ESTATE SUMMARY

2011 has clearly become a surprisingly consistent and impressive string of solid sales months. October is no exception being second only to 2008 for the best sales on record for this month. Year-to date dollar volume is already the highest achieved in WinnipegREALTORS® 108-year history with $2.67 billion dollars worth of MLS® sales. October MLS® sales increased 13% while dollar volume was up 20% in comparison to the same month last year. Year-to-date MLS® sales are up 7% while dollar volume has increased 12% in comparison to the same period last year. Nearly 70 % of all MLS® listings entered on the market this year have sold thus far.

One factor in the strong market is the continuation of very attractive mortgage rates in combination with uncertainty around alternative investments such as the stock market. Improvement in the overall number of listings coming on the market in the last few months has improved and created a more balanced market. One indicator of this development in October is the total sales price to total listing price ratio falling under 100%. This means there is less price pressure on listings and in fact 56% of homes sold in October went for less than list price.

For sales in October, the most active price range was from $200,000 to $249,999 with 23% of total sales. The immediate price ranges below and above this one were in a virtual deadlock with 17 and 18% respectively of total sales. October 2011 had one house sale for $1,750,000 in St. Germaine and another million dollar home sell in Fort Garry. The average days on market to sell a home was 29 days, 3 days slower than last month and only one day off the pace set in October 2010.

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SEPTEMBER REAL ESTATE SUMMARY

Balmy summer weather in September created summer-like market activity which led to a third consecutive month of over 1200 sales. As a result, it makes September 2011 WinnipegREALTORS® best September ever. September 2010 was the previous best September on record. The dollar volume was impressive too as it easily eclipsed last year’s record by $30 million. With three months to go, year-to-date MLS® dollar volume stands at over $2.4 billion and MLS® sales of 10,400 are flirting with the best year ever in 2007 when there were over 13,000 MLS® sales by year end.

Call it what you will, a Jet -fueled market with our new NHL team, and exciting new developments including an IKEA, a Canadian Museum for Human Rights, a new football stadium, an expanded Winnipeg Convention Centre and a new airport opening at the end of the month, Winnipeggers are optimistic about what is happening in our city. Another undeniable factor pointed out by the Canadian Real Estate Association’s chief economist Gregory Klump is due to global economic instability and uncertainty and the increasing volatility in the stock market, interest rates are being kept lower for longer so real estate becomes an attractive alternative investment. Moreover, as CREA president Gary Morse stated in commenting on the August MLS® market results where Winnipeg clearly was one of the best performing markets bar none in the country, … “homebuyers are showing that they remain confident about the stability of the Canadian housing market, and recognize that the continuation of low interest rates represents an excellent opportunity to buy their first home or trade up.”

September sales increased 6% while dollar volume rose 12% in comparison to the same month a year ago. Year-to-date sales are up 6% while dollar volume has increased 11% in comparison to the same period last year. For sales in September, the most active price range by far was the $200,000 to $249,999 with 26% of total sales. The under $100,000 market continues to erode with only 4% of the market and the longest days to sell of 41 days. The average days on market to sell was 26 days, 2 days quicker than last month and 3 days faster than September 2010.