OCTOBER REAL ESTATE SUMMARY

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. October MLS® unit sales were down 3% while dollar volume was up 6% in comparison to the same month in 2009. Year-to-date MLS® unit sales are even with last year while dollar volume is up 10%. Total MLS® listings entered on the MLS® this year are 17,744; an increase of 12% over 2009.

Compared to many other markets across the country Winnipeg is holding its own in terms of sales activity. Toronto’s October sales declined 21%, Calgary’s 35%, Edmonton’s 29% and Vancouver’s 37% compared to 2009. There is some disappointment in regard to the lower end of the residential-detached housing market where sales continue to show some appreciable declines over the year before. WinnipegREALTORS are of the opinion provincial land transfer tax relief would be helpful in addressing this development which has emerged more

noticeably since 2009.

For 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.       

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.

SEPTEMBER REAL ESTATE SUMMARY

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. 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. September MLS® unit sales were up 1% while dollar volume was up 9% in comparison to the same month in 2009. Year-to-date MLS® sales are up less than 1% and dollar volume has risen 10% 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, 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 home 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 sales. The average days on market for sales was 29 days, one day quicker than last month and September 2009.

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.