November MLS® Activity Maintains Strong Pace in 2019
WinnipegREALTORS® Press Release, December 5, 2019
WINNIPEG - November sales, dollar volume and listings contributed to a strong second half finish to 2019.
November’s 902 sales transacted on WinnipegREALTORS® MLS® were up 4% over November 2018 and on record to be the second time sales eclipsed 900 in this month. Dollar volume of $270.8 million is the highest for the month of November and increased nearly 10% over November 2018.
Listings continue their record-setting pace this year with an 18% increase over November 2018 in new listings coming to market. Active listings or inventory at the end of November is sitting at 21% above last year with over 5,000 listings available for sale.
“Manitobans are actively engaged in our real estate market this year given the extent of MLS® listing and sales activity we are experiencing,” said Kenneth Clark, president of WinnipegREALTORS®. “The recovery we predicted in 2019 over 2018 has come to fruition.”
Year-to-date sales of 12,988 are up 6% over the same period of time in 2018 and already ahead of last year’s annual total. Depending on how December 2019 concludes, a new sales record is conceivable. Year-to date sales are 27 sales behind the best year on record for the first 11 months in 2016.
Year-to-date dollar volume of $3.86 billion, which is 7% higher than last year and with only a month to go, is on pace to set a new annual dollar volume record.
“Seeing the number of REALTOR® members grow this year with more activity of members in rural areas where we have not been as active in previous years is helping make 2019 a banner year”, said Clark.
Improvement in sales over 2018 has not only been in residential-detached and condominiums which make up 85% of all MLS® sales, but other property types have enjoyed stellar performances such as single-attached properties with over 600 sales and close to a 5% share of total MLS® sales. Vacant land sales have also done well with 466 sales. Duplex sales are up 20% over 2018 with 187 sales.
Speaking of residential-detached sales, the November average sales price of $327,485 was skewed higher than normal with 8 sales that were one million or higher compared to 4 last November. There were also 65 sales of $500,000 or higher in 2019 compared to 47 in 2018.
Similarly, the November average condominium sales price of $249,681 was skewed higher with a $1 million plus sale and 9 sales of half a million or more compared to 3 in November 2018.
The most active price range for residential-detached sales in November was from $250,000 to $299,999 at 24% while condominiums were busiest from $150,000 to $199,999 at 26%.
“While too big to fit under your tree, looking for a property to buy in the festive season has never been better,” said Clark. “So many options to choose from and our local market delivers great value on a wide price range of MLS® properties.”
“Tis the season to be buying so if you find yourself in the market for a home, you need to be contacting your REALTOR®”, said Marina R. James, CEO of WinnipegREALTORS®. “REALTORS® are local market experts who can guide you through the entire process and find the home right for you.”
Since 1903, WinnipegREALTORS® has assisted its members in achieving high levels of excellence in organized real estate by providing superior tools and services that enhance and build a vibrant real estate industry. Representing just under 2,100 REALTORS® and other industry related professions active in the Winnipeg metropolitan area, WinnipegREALTORS® promotes the value of a REALTOR® and organized real estate. WinnipegREALTORS® provides its members with essential market information, professional development sessions, networking opportunities, marketing products, an effective industry voice and strong leadership to further their professional success.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.