WinnipegREALTORS® Press Release, June 10, 2019
WinnipegREALTORS® Press Release, June 10, 2019
WINNIPEG - May sales of 1,705 is the first time WinnipegREALTORS® has reached and eclipsed the 1,700 threshold mark for any month including May. It also broke new ground for any month with sales dollar volume vaulting over one-half billion to $526 million. The previous record set in May 2017 just fell short of the half billion dollar mark at $499.4 million while sales were only 4 below 1,700.
In relation to the same month last year, sales rose 13% while dollar volume increased 15%. New listings were impressive too with over 3,000 entered on the MLS® in May – a 7% increase compared to May 2017. This leaves 5,689 listings available for sale in June.
“These records are a true testament to a real team effort by our 1,890 REALTOR® members who cooperate every day to serve buyers and sellers in our local market,” said Ken Clark, president of WinnipegREALTORS®. “It shows how our market region extends...
WinnipegREALTORS® Press Release, May 7, 2019
WINNIPEG - While Manitobans welcomed spring with open arms given a long winter they also were relieved to know potential flooding threats did not come to fruition. Thanks to major engineering flood mitigating projects such as The Winnipeg Floodway or Duff’s Ditch, as it is commonly referred to as, thousands of properties have been saved over many years from the ravages of water damage.
April sales of 1,223 were down less than 5% from April 2018 while dollar volume decreased 3%. It is a 60 sales difference from 2018.
Single family dwellings and condominiums remain close to last year’s results with six fewer sales in single family and eight in condominiums.
2,711 new listings were added to the market in April to create a healthy supply of nearly 5,000 listings available for sale in May. Current inventory sits at 4 months of supply. This is considered balanced from an overall market perspective.
“The strong influx of new...
WinnipegREALTORS® Press Release, April 4, 2019
WINNIPEG – Spring is a time of optimism, when we cast off winter’s gloomy grip and walk cheerfully into the warm sunshine. This renewal of energy is apparently being reflected in local housing sales for the beginning of 2019 in the Winnipeg METRO Region.
First quarter sales are off to a good start. The 2,367 sales transacted in the first three months show a 6% increase over the same period in 2018, and only a 3% dip from the record-setting years of 2016 and 2017. Similar to sales, there is a 6% rise in year-to-date listings with more than 5,400 entered on the MLS®. Dollar volume of close to $700 million is up 7% from 2018.
March sales of 1,009 resulted in nearly a 4% gain in comparison to March 2018, while dollar volume of just under $300 million edged out last March by less than 3%. The 4,212 active listings sitting in inventory at the end of March are 8% higher than they were at the same time last year.
WinnipegREALTORS® Press Release, March 7, 2019
WINNIPEG - February sales of 724 show a 6% increase over February 2018 and a 10% rise in dollar volume at over $215 million. 1,447 new listings were added to the market in February which resulted in 3,735 active listings available for sale at the end of February. This healthy supply of listings represents a 10% increase over last year.
Year-to-date sales are up 8% over the same period in 2018 and 3% over the 5-year average. They are only 2% behind the record- setting pace of 2016.
“We have now had two back to back months of improvement in sales and listing gains over 2018,” said Kenneth Clark, president of WinnipegREALTORS®. “While early in the year and a cold one at that, it does show buyers are making necessary adjustments to mortgage regulation rules to complete a transaction. Some of the increase in listings, most notable in January with a 19% increase in new listings coming on the market, is...
WinnipegREALTORS® Press Release, February 7, 2019
WINNIPEG - January MLS® sales of 634 increased 11% over the same month last year and 8% over the 5-year average for January. Dollar volume rose 12% to $175 million. The 1,783 new listings entered on the MLS® in January also resulted in a double-digit gain of 19% compared to January 2018.
“This is the best start on record for January in our local real estate market,” said Kenneth Clark, president of WinnipegREALTORS®. “However, as they say, one month does not make a year so we remain cautiously optimistic.”
On a positive note, mortgage rates are remaining historically low with the Bank of Canada signaling a wait and see approach on any interest rate increases this year. Buyers have also had over a year to adjust to the B-20 mortgage regulation rules which came into effect January 1, 2018.
“The noticeable bump up in new listings includes some of those move–up buyers last year that decided...
WinnipegREALTORS® Press Release, January 10, 2019
WINNIPEG - In comparison to a near record year in 2017, 2018 held its own with sales down 5% from 2017 and 6% from the best year on record in 2016. Sales of 12,773 are down less than 3% from the five – year average and 1% lower than the 10-year average.
Annual dollar volume on the other hand of $3.77 billion decreased less than 4% from 2017 and is up nearly 3% from the five-year average.
The 23,834 listings entered on the MLS® in 2018 rose 2% over 2017. There are 3,235 listings available for sale at the end of 2018.
“Keeping things in perspective, with some of the headwinds we faced in 2018 with higher interest rates and more stringent mortgage qualification requirements, it should be no surprise that 2018 fell short of our best years on record,” said Chris Dudeck, outgoing president of WinnipegREALTORS®. “Simply put, we believe fewer buyers were able to qualify and successfully complete a purchase they...
WinnipegREALTORS® Press Release, December 6, 2018
WINNIPEG - November MLS® sales of 864 are right in line with expected sales generated for this month. Sales decreased less than 2% from November 2017 and below 1% from the 5-year November average. This now makes for two months in a row of solid sales for the fourth quarter and this time of year.
“Buyers and sellers are making the adjustments necessary to complete sales and end the month off on a positive note,” said Chris Dudeck. “We have reason to remain optimistic that December will finish off strong and conclude a year where sales have moderated from the busiest years on record in 2016 and 2017.”
Year-to-date sales of 12,235 are down 5% from the same period in 2017 while dollar volume of $3.6 billion decreased 3% from 2017. Sales are closely aligned with the three previous years to 2016 which is WinnipegREALTORS® best year on record at 13, 632 sales.
To reaffirm and dispel any notion that the real...
WinnipegREALTORS® Press Release, November 9, 2018
WINNIPEG - October MLS® sales of 1,107 increased 8% over October 2017 and 1% over the 5 –year average for this month. Sales rebounded and actually outsold a slower performing September as usually it is the other way around.
A record was set with the highest dollar volume ever achieved for the month of October. Just under $330 million was transacted this October, a 13% increase over October 2017.
Year-to-date sales of 11,371 are down 5% from the same period in 2017 while dollar volume of $3.36 billion is just shy of 4% off the record pace in 2017. Listings entered on the MLS® to the end of October are slightly ahead of last year with both respective years over 21,000 listings. The big difference behind fewer sales in 2018 is 52.6% of listings sold compared to 56.5% in 2017.
“October results showed how our local market despite some challenges can quickly rebound and deliver solid results,” said Chris Dudeck, president...
WinnipegREALTORS® Press Release, October 10, 2018
WINNIPEG - September sales of 1,046 were disappointing as they fell 12% in comparison to September 2017 and were off 9% from September’s 5-year average of 1,156 sales. On the other hand, new listings were up 6% and inventory of 5,134 listings grew by 11% over the same time last year.
Year-to-date sales activity shows sales of 10,264 are down 7% over the same period in 2017 while dollar volume has decreased 5% to $3.0 billion. Listings entered on the MLS® at the end of September are 19,771, up less than 2% from 2017.
If you look back before 2016 and 2017, the best years ever on record where sales after nine months were right around 11,000, year-to-date sales are very much in line with 2015 and 2014 and much closer to 2013 in total sales.
“Winnipeg’s resilient market is being tested this year in light of newly tightened federal mortgage regulations and it is preventing a number of prospective buyers from entering our...
WinnipegREALTORS® Press Release, September 10, 2018
WINNIPEG - August sales of 1,274 are down 1% from August 2017 and up 1% over the 5-year average. Dollar volume of $375 million in August was down less than 1% from August 2017. Inventory of 5,163 MLS® listings at the end of August is up 7% over 2017.
Year-to-date sales of 9,218 are off 6% from the same period last year while year-to-date dollar volume of $2.73 billion is down 4% from 2017. Total listings of 17,619 have been entered on the MLS® this year and are slightly ahead of 2017. Where the difference is greater between the two years is in how many of these listings have been sold. There have been 52% sold this year compared to 56% in 2017.
“We have said all along this year that we are comparing our sales activity to one of our best years on record so we have every reason to remain optimistic about our market this year,” said Chris Dudeck, president of WinnipegREALTORS®. “As shown last month, Winnipeg...
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...