Posted in: Winnipeg Market Information
WinnipegREALTORS® Press Release, August 8, 2018
WINNIPEG — July sales activity decreased 4% from July 2017 and was off only 2% from the 5-year average for this month. If you remove the exceptional record-setting month of July 2014 which was close to 1,500 sales, the 1,376 sales transacted this July are less than 1% behind the average sales activity for this month. July 2017 was the second best July on record at 1,438 sales.
The narrow range in percentage terms of sales activity between this year and the 5 –year average for all MLS® sales in July is also exemplified in the two closely followed property types of residential-detached and condominiums. The 1,006 residential-detached sales in July decreased 2% from the 5-year average of 1,030 sales while the 176 condominium sales are just short of the 5-year average of 180 sales.
“We need to keep perspective from month-to-month and even year-to-year that despite what appears sometimes as drop off in sales...
WinnipegREALTORS® Press Release, July 6, 2018
WINNIPEG - June sales activity outperformed May this year and usually it is the other way around. This helps explain adjustments that are going on within the local market to account for more stringent mortgage qualifications based on higher interest rates and the federal stress test.
June sales of 1,547 decreased 5% over June 2017 and 1% over the 5-year average for this month. Listing activity for June increased 1% over the same month last year while the current inventory of 5,206 at month end was up 6%.
June dollar volume of $473 million is down 3% over June 2017 and ahead of all other previous months of June including the best June on record in 2016 of 1,638 sales.
Year-to-date sales activity for the first six months is down 7% in comparison to the same period in 2017 and 2016 but off only 2% from the 5-year average. Year-to- date dollar volume of close to $2 billion dipped 2% from the same period last year and 1% from the...
WinnipegREALTORS® Press Release, June 8, 2018
WINNIPEG - May sales were down from the best May and month on record in 2017 when close to 1,700 transactions were processed on WinnipegREALTORS® MLS®. The 1,510 sales recorded in May 2018 decreased 11% from the same month last year and are down 4% from May’s 5-year average sales numbers and 1% from the 10-year average. Dollar volume of $458.4 million decreased 8% from May 2017.
New listings coming on the market in May decreased less than 2% while inventory at the end of the month increased 3% to 5,103 listings. When broken down into the two main property types of residential-detached and condominiums, inventory sits at 2,750 and 973 respectively. If no new listings were to come on the market this inventory would run out in roughly two and one-half months for residential-detached properties and five months for condominiums.
“While you cannot hit home runs every year, there are some headwinds facing the market...
WinnipegREALTORS® Press Release, May 7, 2018
WINNIPEG - April sales began to take off like our Winnipeg Jets. Sales of 1,283 were more spring-like in numbers as only down 1% from last April and up nearly 2% over the 10-year average for this month. New listings of 2,621 in April increased 7% from the same month last year while the existing inventory at month end of 4,550 was up nearly 4% over 2017.
MLS® dollar volume of nearly $390 million just edged out last year’s total. Year-to-date dollar volume climbed over $1 billion and is less than 5% off last year’s first four month total dollar volume. Year-to-date sales of 3,511 are down 6% from the same period in 2017.
April’s average residential-detached sales price was just under $330,000, a modest increase over April 2017. Helping elevate this average sales price was a home in East Fort Garry which sold above list price for $2.6 million and three other million dollar plus home sales in the Waverley West MLS...
WinnipegREALTORS® Press Release, April 9, 2018
WINNIPEG - Sales in March resulted in a slower first quarter especially in comparison to the two best years on record in 2016 and 2017. Sales of 2,228 are down over 8% from the first 3 months in 2017, and 4% over the 10-year average. March sales of 974 decreased 12% from March 2017, and 5% over the 10-year average. March new listings at just under 2,100 were down to a lesser extent at 5%.
Current inventory of MLS® listings going into the second quarter is almost identical to last year. It sits around 3,900 listings with a modest percentage gain of residential-detached listings available while condominium listings slipped slightly.
It is fair to say while market fundamentals are firmly in place in the local market, new mortgage rules combined with higher mortgage rates in the last year have made it more difficult for some buyers to purchase their desired property. This not only applies to first-time buyers, but to existing home...
WinnipegREALTORS® Press Release, March 9, 2018
WINNIPEG - It was an off month for WinnipegREALTORS® as February sales of 683 declined 11% from the same month last year and 10% over the 10-year average for February. Year-to-date sales of 1,250 are 5% off the pace set in 2017 when there were 1,327 sales. Year-to-date dollar volume worth $352 million in real estate transactions is also down 5% from the same period last year.
When comparing MLS® listings to last year, overall supply is not the issue as the inventory at the end of February of just under 3,400 is equivalent to 2017. New listings coming on the market for residential-detached and condominium properties in February were not markedly different either from February 2017.
Simply put, buyers were less active than last year. Sales fell short in the two main property types – residential-detached and condominiums. While condominium sales decreased 16%, the 102 sales transacted are above the 10-year average...
WinnipegREALTORS® Press Release, February 6, 2018
WINNIPEG - It is often said that Winnipeg’s real estate market is steady and stable. January exemplified this description by delivering a repeat performance from January 2017. It was uncannily similar in total MLS® sales, active and current listings, and dollar volume.
MLS® sales of 571 and dollar volume of $156 million are both up less than 2% over January 2017. The inventory of 3,096 listings is almost identical to 2017 and current listings entered onto MLS® in January were just under 1,500 in comparison to 1,502 last year.
“Too early to tell how much impact the new stress test effective January 1, 2018 on uninsured mortgages will have on the local market,” said Chris Dudeck, president of WinnipegREALTORS®. “And we should not forget that the stress test on insured mortgages in late 2016 will still be a factor in 2018.”
When you look closely at the MLS® property...
WinnipegREALTORS® Press Release, January 18, 2018
WINNIPEG – WinnipegREALTORS® is proud to announce Chris Dudeck as its 2018 President. He becomes WinnipegREALTORS® 115th President and will lead its over 1,900 member strong industry association this year.
“I am so pleased and fortunate to have a very high caliber 12-member board of directors chaired by Chris Dudeck - a stellar volunteer leader who has committed hundreds of volunteer hours to serve our members effectively over the past several years and will do so again in 2018” said Marina R. James, CEO of WinnipegREALTORS®.
“I am honoured to fulfill the role of President with its rich history of achievement and now in a fast-paced and changing business environment,” said Dudeck. “We are continually looking to enhance and improve our REALTOR® members’ ability to deliver superior service and results to their buyers and sellers. I will continue to embrace this direction and...
WinnipegREALTORS® Press Release, January 15, 2018
WINNIPEG - A solid result in December of 635 MLS® unit sales and a dollar volume over $179 million capped off a successful year in 2017.
Actual percentage differences in comparison to December 2016 were relatively modest but positive with sales up 3%, dollar volume rising 7% and listings increasing 8%. All MLS® property types performed exceptionally well in December with only residential-detached experiencing a drop of 8% in sales. A total MLS® inventory of 2,851 listings is available for sale as 2018 begins. \
2017 finished up strong with a total of 13,525 sales, down less than 1% from the record year of 2016 where 13,632 sales were transacted. A new annual dollar volume record was set in 2017 with $3.92 billion worth of MLS® sales – an increase of close to 4% in comparison to 2016.
When asked for his insight on 2017, outgoing WinnipegREALTORS® president Blair Sonnichsen said, “Considering...
WinnipegREALTORS® Press Release, December 6, 2017
WINNIPEG - If you are going to duplicate a month’s sales activity, do it when it is a good one and that was the case in November. MLS®sales of 878 units in November were one sale higher than November 2016 and 4% above the 10-year average for this month. Only once in 2015 did November sales edge over 900, so not a big difference in sales.
A solid performance in November and year-to-date sales of 12,890 ensures 2017 will be no worse than second highest on record. 2016 was the best year ever with over 13,600 sales.
“A good rebound in November from a slower October sets up a terrific year end result,” said Blair Sonnichsen, president of WinnipegREALTORS®. “We are only down 1% in sales from our best year ever in 2016 and will establish a new dollar volume record of close to $4 billion.”
A highlight in November which has been observed throughout the year is the strength of the upper end market....
WinnipegREALTORS® Press Release, August 8, 2017
WINNIPEG - July sales results show a continuation of a second quarter of brisk market activity. Condominium sales really stood out in July with a 32% increase over July 2016.
Total July Multiple Listing Service® (MLS®) unit sales of 1,438 went up 6% over July 2016 level and the 10-year July sales average. It is the second best July on record with only July 2014 eclipsing it by 3%. This July’s dollar volume of $416 million is the first time the month of July reached and surpassed $400 million in sales transactions.
“Initial concern this year of tougher mortgage requirements affecting sales activity is being overcome by strong demand for all property types,” said Blair Sonnichsen, president of WinnipegREALTORS®. “I cannot emphasize enough that in our local market we have different affordable options to choose from. Buyers are taking advantage of them through our REALTORS® keeping...
Posted in: Home Ownership
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WinnipegREALTORS® Press Release, July 10, 2017
WINNIPEG - An exceptional month of June sales activity puts WinnipegREALTORS® commensurate to last year’s record-setting pace for the first half of the year. 2017 marks only the second time that sales have surpassed 7,000 by the end of June; 2016 being the first instance. For the first time, dollar volume has gone over $2 billion at the half-way mark of the year.
June sales of 1,636 were two sales behind last year’s highest activity on record for the month, while dollar volume of $488 million increased 3% over the same month last year. Year-to-date sales of 7,070 were 14 sales off from last year. Second quarter sales activity was 7 sales down from 2016, the busiest second quarter in WinnipegREALTORS® history.
The number of listings entered on MLS® for the first six months is 13,100, 4% off 2016. Active listings or the current inventory going into July is sitting at just over 4,900, 9% down from the same period in...
WinnipegREALTORS® Press Release, August 5, 2016
WINNIPEG - July sales finished slightly above the 10-year average of 1,330 MLS® sales for this summer month. However they fell short of last year’s near 1,400 sales and the record year of 2014 when July sales reached close to 1,500. Despite the year’s July numbers, year-to-date MLS® sales activity is ahead of any previous year with 5 months to go.
Both new listings coming on the market in July and the inventory at the end of the month were down 8% from 2015. Yet they would be considered elevated especially in comparison to the 10-year average. For example, the 5,291® MLS® properties presently listed on the market for August are up 28% over the 10-year average.
“WinnipegREALTORS® experienced its strongest sales result ever for June and the first six months, so to start off in a more restrained fashion in July is no cause for concern,” said Stewart Elston, president of WinnipegREALTORS®. &l...
WinnipegREALTORS® Press Release, July 11, 2016
WINNIPEG - Back to back months of the second and third best months ever on record with 1,638 transactions in June and 1,629 in May makes 2016 the most active year for the first six months and second quarter. Only May 2007 is higher than this June at 1,652 sales. The next busiest second quarter on record was in 2008 when again there were back to back outstanding monthly results with May and June each recording 1,564 sales.
Sales were up 9% in June over the same month last year and the identical percentage increase for the first six months in comparison to the same period in 2015. It is the first time WinnipegREALTORS® has surpassed 7,000 MLS® sales in six months.
“There is no question the perfect storm I spoke of earlier in the year is materializing,” said Stewart Elston, president of WinnipegREALTORS®. “The Winnipeg real estate market is supported by strong underlying fundamentals. Helping us reach new heights...
WinnipegREALTORS® Press Release, June 7, 2016
WINNIPEG - May 2016 showed stellar results with MLS® sales surpassing 1,600 for only the third time in WinnipegREALTORS® 113-year history. MLS® dollar volume followed suit with a new all-time monthly record of $460 million.
2016 is picking up where 2015 left off with a full recovery in condominium sales from early last year and residential-detached sales continuing to shine and show gains over the previous year. Beyond the two main property types, sales increases are also occurring in most others such as duplexes, vacant land, commercial, mobile homes, single-attached and town houses.
“Buyers are taking notice and advantage of one of the most affordable markets in the country,” said Stewart Elston, president of WinnipegREALTORS®. “They also have the benefit of choosing from a wide array and abundance of good listings.”
Only May 2007 has higher monthly sales than the 1,629 sales transacted in May 2016....