Chris Dudeck

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WinnipegREALTORS® Press Release, December 6, 2017

 

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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...

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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...

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Great tip from HomeAdvisor.com

Disposals can become the source of unpleasant smells. Here’s a quick trick to eliminate unwanted odors:

To create a deodorizer, (1) Mix together a natural cleaner; vinegar, water and lemon rinds - - - (2) Freeze the mixture; Pour the mixture into an ice tray and place it in your freezer - - - (3) Place the ice cubes in your disposal. Leave the ice cubes in your disposal several times a week. The ice cubes will clean and deodorize your disposal as they melt.

 

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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...

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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...

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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...

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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....

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WinnipegREALTORS® Press Release, May 7, 2016

WINNIPEG - April MLS® sales showed continued strength and momentum from an excellent first quarter of MLS® sales and dollar volume activity.

April sales surpassed both last April’s total and the April 10-year average by 8%. The 1,373 sales transacted through WinnipegREALTORS®’ MLS® are the highest sales total on record for the month of April.

Year-to-date sales are also up 8% at over 3,800. This current pace is only outflanked by 2012 while year-to-date dollar volume of over $1 billion has risen nearly 10% over the same period in 2015.

Active listing inventory has come off its peak level of over 5,000 in 2015. It now sits at 4,708 in 2016. New listings coming on the market in April were down 10% from the same month last year. The absorption rate for all MLS® listings going into May if you assume there are no new listings entered on MLS® is down to three and one-half months.

“While there were no major...

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WinnipegREALTORS® Press Release, April 7, 2016

WINNIPEG - WinnipegREALTORS® MLS® market got off to a good start in 2016 with the first three months showing an 8% increase in sales over the same period a year ago. Helping make this result possible was a stellar March 2016 performance in which sales went up 5% over last March. There were 1,058 sales in March and 2,445 in the first quarter.

Owing to a new listings drop of nearly 9% in combination with strong sales, the active inventory at the end of March experienced a slight decrease from 2015. This is the exact opposite of what has been happening the last few years as the number of active listings has been spiking upward significantly. The overall MLS® market as a result is in balanced market conditions with 4 months of inventory.

When you breakdown the two main property types of residential-detached and condominiums a clear difference emerges. Based on March sales activity, the 2,259 residential-detached listings existing...

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WinnipegREALTORS® Press Release, March 9, 2016

WINNIPEG - Whether an extra day in February paved the way for a record month is debatable as the best previous high for this month was 797 in 2007 and there were only 28 days to reach that level.  What it does show however, is more buyers came out of the woodwork to take advantage of some of the best supply of affordable house prices in the country. 

Another February milestone was set this year too with dollar volume easily surpassing $200 million for the first time.  New listings coming on to the market were up in double-digits as well however the stronger conversion of listings to sales kept the overall inventory close to where it was a year ago. Based on the strong sales activity in February and a high influx of new listings there is roughly four and one-half month’s supply of MLS® listings available going into March. It was near six months at the end of January.

In percentage terms, February MLS® sales of...

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WinnipegREALTORS® Press Release, February 3, 2016

WINNIPEG – It has often been said that one month does not a market make. Yet here it is … January 2016 … and we only have one month to look at … so January is the market! And not to disappoint, the activity in the first 31 days does give us a lot to evaluate.

WinnipegREALTORS® was founded as The Winnipeg Real Estate Exchange in 1903 – and one of the founding Objects of the Corporation was to “… compile, record and publish statistics and acquire and distribute information respecting the real estate … business of its Members …”. So we’ve been looking at and interpreting market activity and statistics for 113 years.

Here’s how the New Year kicked off …

In terms of inventory, we have more listings available this January for buyers than we’ve had for the past 5 Januarys. More supply starts to change the sellers’ markets we’ve experienced...

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WinnipegREALTORS® Press Release, January 13, 2016

WINNIPEG -   2015 finished on a strong note.  Following on the heels of a record sales month for November, December sales of 642 were up 4% from last December. They are the third highest for this month, and are only behind the best sales years ever by a very modest amount. 

“It is really quite remarkable how close our year-end sales have been in the last few years including our highest sales year in 2007,” said WinnipegREALTORS® outgoing president David MacKenzie. “They all tend to hover just above or close to the 13,000 level and in percentage terms we are only talking a little over 1% when we compare the 12,927 sales recorded this year to the 13,079 in 2007.”

While sales and even prices have shown consistent and similar results, listings have not chartered the same path. The number of listings entered on the MLS® were 24,603 in 2015, up 7% over 2014, and 41% over the 10-year average...

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WinnipegREALTORS® Press Release, December 5, 2015

WINNIPEG – Mild weather, hosting the Grey Cup, being singled out as one of the best destinations in the world to visit by National Geographic Traveler magazine, or just having a an excellent supply of terrific listings to choose from with such favourable mortgage rates, it was the first time November nudged over 900 sales in WinnipegREALTORS® 112-year history. 

Not surprisingly, dollar volume was at its highest level too for this month at nearly $245 million and with a month to go, it is virtually assured a new annual dollar volume record will be set around the $3.5 billion mark. November also set a record for the highest-priced residential-detached or single family property sold ever at $2.7 million. It is a spectacular home and acreage nestled along the Assiniboine River in St. Francois Xavier.

“We have said all along this year Winnipeg is a very stable real estate market with good fundamentals supporting it,”...

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Winnipeg has been named one of the Top 20 best places in the world to visit in 2016 by National Geographic Traveler - one of the most prestigious travel publications in the world. Winnipeg is the only Canadian destination on the list, alongside places like New York City, Hawaii and Bermuda.

The full National Geographic Traveler story an be viewed here.

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WinnipegREALTORS® Press Release, November 5, 2015

WINNIPEG - With two months to go, it is too close to call whether this year’s sales activity can eke out a victory over 2015. The lead has changed a few times when comparing sales activity between 2015 and 2014. At present, 2014 regains the lead with a total of 11,391 versus 11,382 sales this year. Last year was WinnipegREALTORS® fifth highest sales year recorded at over 12,800 sales. It was a good year and only less than 2% off the best year in 2007.

On the other hand, MLS® dollar volume continues to set new records every year even if sales fall short of previous years.  2015 is no different.  Its $3.1 billion in MLS® sales transactions activity is up 2% over 2014. Listings entered on the MLS® for the first 10 months are 22,400, an 8% increase over 2014.

October MLS® sales of 1,084 represent a decrease of less than 3% from October 2014 while dollar volume of $283 million dropped a similar percentage...

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WinnipegREALTORS® Press Release, October 8, 2015

WINNIPEG - September MLS® sales activity and the year-to-date pace is indicative of a steady market.  It is tracking very closely to 2014 as was forecast.  2014 saw WinnipegREALTORS®’ 5th highest MLS® sales result in its 112-year history.

If we even use the third quarter or the past 3 months as an example, and look back over 3 years including 2015, it is quite remarkable how similar they are. Some may say nearly identical as there is a difference of only 7 sales between the highest and lowest sales results.  In order of highest third quarter MLS® sales to lowest they are as follows: 2013 – 3,803; 2014 – 3,802; 2015 – 3,796. You would be hard pressed to find such a minimal sales difference in any other major Canadian real estate market.

“They are not headline grabbing numbers,” said WinnipegREALTORS® president David MacKenzie. “What they tell us is we are very...

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WinnipegREALTORS® Press Release, Septemer 8, 2015

WINNIPEG - The strong sales performance in August resulted in bringing year-to-date sales ahead of last year for the first 8 months of 2015. Last month 2014 was ahead slightly but the lead slipped away by the end of August owing to the 11% increase in sales over August 2014.

Dollar volume on the other hand has remained ahead of 2014 throughout the year.  In fact, August reinforced this consistent edge by setting a new dollar volume record for this month.  Over $340 million was transacted through the MLS® in August with one single family home sale fetching $2.1 million. Year-to-date dollar volume is now over $2.5 billion. It is up nearly 3% over last year and is the highest level it has ever been for the first 8 months.

At 1,258 sales, August 2015 is right up there with the best. The three higher August month sales on record are modestly better with none reaching the 1,300 level.  As for listings, compared to the last...

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WinnipegREALTORS® Press Release, August 7, 2015

WINNIPEG - It is no easy feat to overtake a record July set in 2014. Nonetheless, July 2015 sales were still brisk. At nearly 1,400 sales, they are 6% higher than the 10-year sales average and third highest for this month ever. If not for condominium sales lagging behind in July as well as this year-to-date, July 2015 would have narrowed the gap in MLS® sales from last July and been even more impressive.

Residential-detached sales continue to perform well in comparison to 2014. They are only down 2% from last July and are up 3% year-to-date.  On the other hand, condominium sales are off 22% in July and 17% for the year.

“We are a little bit surprised by how condominium sales are not rebounding from a slow start this year,” said WinnipegREALTORS® president Dave MacKenzie. “One thing I know for sure is it has nothing to do with lack of supply. With 939 condo listings available at the end of July, it is over...

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WinnipegREALTORS® Press Release, July 9, 2015

WINNIPEG   - Since 2007 when for the first time June sales surpassed 1,500, this level has become the new benchmark upon which June is judged.  At 1,509 MLS® unit sales in June, over 1,500 sales have occurred three times after 2007 including last year when there were 1,515 sales. There is only a 55 unit sales difference or over 3% higher sales activity in the record-setting June 2008.

Not much difference on a year-to-date basis either.  Year-to-date sales are running less than 1% ahead of last year with 6,502 sales. This total is only off 7% from 2007, which at the halfway mark and year end holds the highest unit sales level in WinnipegREALTORS® 112-year history.  

This reinforces why Winnipeg’s real estate market may lack the excitement of other housing markets because it’s so steady and stable in generating similar results every year.

“In all honesty, our Winnipeg market can be quite...

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WinnipegREALTORS® Press Release, June 4, 2015

WINNIPEG - While still a large influx of new listings came onto the market in May, it was the first decrease over the same month the previous year in over two years. Just this year alone monthly increases have been significant (e.g. 33% spike in March over March 2014).

One month does not make a trend. However, due to less inventory going into June and higher sales activity occurring in the spring market, the Multiple Listing Service® inventory has a supply of four months.  Altus Group, a leading national housing consulting firm which tracks local markets every month, states five months inventory of resale product is considered to be a “normal” market.

“Overall our local market is balanced and offers plenty of choice for discerning buyers to find their preferred property,” said WinnipegREALTORS® president David MacKenzie.  “Sellers on the other hand need to be realistic in their pricing as there...

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