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MLS® Sales Even With 2011, Dollar Volume Up
7%
WINNIPEG – With the exception of 1997 when
January sales were at 660, January 2012 sales activity ranks among the best
results for all other Januarys as none have even threatened the 600 sales
level. Dollar volume is another
story altogether as despite sales being in a virtual deadlock with last January,
there was still nearly an additional $8 million worth of sales activity. As a
result, we see a replay of previous years where even if sales are not up to the
previous year level, the dollar volume sets a new monthly
record.
Interestingly enough, some of the real star
performers of last year relate to property type, dropped off in the first month
this year in comparison to activity the same month a year ago. Sales of
single-attached were off 25% while condominiums dropped 16%. And vacant lots and
mobile homes both decreased 8%. The saving grace was the 4% increase in single
family homes which accounts for the lion’s share of all
MLS® sales.
For example in 2011 this dominant property type comprised 74% of all
MLS® sales.
Rural sales in particular stood out in January as
represented 29% of all single family home sales.
January MLS® sales
were down just 2 properties (564/566) while dollar volume was up 7% ($133.3
million/$124.5 million) in comparison to the same month last year. New listings
entered on the MLS® in
January of 1,045 were off 8% from January 2011.
“We do not read a lot into one of our slowest
months of the year,” said Shirley Przybyl, president of WinnipegREALTORS®. “It
is fair to say however that is does track well in line with our 2012
MLS® forecast
where we predict MLS® sales
holding the line with last year’s 13,000 plus performance and that dollar volume will
still move up higher due to tight market conditions remaining firmly entrenched
in 2012.” She added, “The extremely low interest rate environment will continue
to be a real incentive for first–time buyers to get into the housing
market.”
The most active residential-detached price ranges
were almost evenly divided amongst three between $150,000 to $299,999. Together
these sales represented 51% of total sales. Close behind the three price ranges
was $100,000 to $149,999 with 15% of total sales. Condominium sales were a
different story with only one price range from $150,000 to $199,999 making up
43% of all sales.
The average days on market to sell a home in
January was 42 days, 2 weeks slower than last month and the same pace as January
2011. The average days on market for condominium sales was 35 days, 2 weeks slower than last month and 3 days
quicker than January 2011.
Established in 1903, WinnipegREALTORS® is a
professional association representing over 1,600 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.
For further information, contact Peter Squire at
786-8854.
