Thursday, December 9, 2010
October Real Estate Summary
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.