Thursday, September 1, 2011
JULY REAL ESTATE SUMMARY
Spectacular weather in July which kept ice cream and beer vendors busy did not deter sellers and buyers from remaining engaged in the market where there were 1,250 sales. July 2008 is by far the best July ever at over 1,400 sales. New listings were ahead of last July too with over 1,700 added in July 2011. The average selling price in July was up nearly 7% compared to the July 2010.
July sales increased 4% while dollar volume went up 10% in comparison to the same month last year. Year-to-date sales are up 3% while dollar volume is ahead by just under 8% in comparison to the same period last year. The 7% increase in new listings this month over the same month last year translated into an overall 1% increase in year-to-date listings from 2010. As of the end of July, 11, 767 listings have been entered on the MLS system this year.
An improvement in new listings in July helped keep prices in check and there were less above list priced sales too so buyers had a little more breathing room. However, inventory still remains tight overall, especially in a number of Winnipeg neighbourhoods. So depending on the price range and neighbourhood you are interested in, multiple offers may well be in play.
For sales in July, the most active price range was from $200,000 to $249,999 at 24% of total sales. Second busiest was from $250,000 to $299,999 at 19%. Average days-on-market for sales in July was 26 days, 3 days slower than June and 2 days faster than July 2010.
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.