August Records Busiest MLS® Summer Month; MLS® Dollar Volume Just Shy of $300 Million
WinnipegREALTORS® Press Release; September 6, 2012
WINNIPEG – There was no let up in August as it not only outperformed July but turned in a well above average performance for this time of year. It was only 4% off the most active August on record in 2005. Dollar volume was the highest it has ever been for August with close to $300 million in real estate transactions. 36% of the entire inventory turned over and that was with a healthy dose of new listings coming on the market.
August MLS® unit sales decreased by less than 4% (1,241/1,290) while dollar volume was up almost 1% ($298.7 million/$296.6 million) in comparison to the same month last year. Year-to-date MLS® sales are ahead by 2% (9,387/9,196) while dollar volume has increased 7% ($2.30 billion/$2.14 billion) compared to the same period last year. Listings entered on the MLS® this year are also trending higher than previous years at this point in time.
“We are bucking a national trend which points to moderating local real estate markets,” said Shirley Przybyl, president of WinnipegREALTORS®. “With the most active real estate months behind us now our MLS® sales are right in line with our best historic results for 8 months and still ahead of last year’s impressive pace.”
“If we have learned anything from what has happened in Winnipeg over the last few years it is one resilient housing market that continues to perform remarkably well.”
The most active price range for residential-detached sales continues to be the $250,000 to $299,999 price range with 22% of total sales. Although the next lower price range from $200,000 to $249,999 was close behind at 21%. August 2012 showed how diverse WinnipegREALTORS® housing market is with house sales of $850,000 and $15,000.
Condominium sales activity is most prevalent in the $150,000 to $199,999 price range with 33% of total sales.
Average days on market for August residential-detached sales was 29 days, 3 days slower than last month and one day slower than August 2011. Average days on market for condominium sales was 34 days, a full week quicker than July, but 4 days slower than August 2011.
Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market. Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession. REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.