WINNIPEG HOME SALES CAPS OFF RECORD MONTH IN SEPTEMBER.
Sales Up 2%; Dollar Volume Rises 15%
The Winnipeg real estate market in September performed remarkably well
with MLS® sales and dollar volume activity being the best on
record for this time of year. It has been an impressive nine month run with MLS®
activity setting another year-to-date best ever pace. Nearly half of the entire
MLS® inventory sold in the month of September and year-to-date conversions of
sales-to-listings remains high at 78 per cent. WinnipegREALTORS® recorded its
third million dollar plus home sale this year in September. It is a brand new luxury
home in Royal Wood.
September MLS® sales are up 2% (1,060/1,038) while dollar volume increased
15% ($177.1 million/$153.9 million) when compared to the same month last year.
Year-to-date MLS® sales are running just under 7% ahead of the same period
last year (10,503/9,846) while MLS® dollar volume is up nearly 20% ($1.78
billion/$1.49 billion).
“With a full quarter or three months of MLS® market activity still to go in 2007,
WinnipegREALTORS® has already produced the equivalent of a solid annual
performance with sales rivaling our fourth and fifth highest property sales years
and dollar volume closing in on last year’s record level of $1.86 billion,” said Wes
Schollenberg, President of the WinnipegREALTORS® Association.
He added, “September has now become a more active real estate month as it is
the fifth consecutive year of 1,000 plus MLS® sales. The big difference however
between September 2007 and September 2003 is the 62% increase in dollar
volume over this four year time frame.”
Residential-detached sales in September were predominant in the $160,000 to
$199,999 price range with 23% of total sales activity. Interestingly enough, the
under $100,000 price ranges bounced back from previous months where the
percentage of sales activity was consistently under 20% (17% in August) to grab
20% of this month’s total. There were 75 sales or 9% of total home sales over
$300,000 including one for $1,150,000 – second only to a home earlier this year
that sold for $1,300,000.
The average days on market for residential-detached sales in September was 23
days, the same as August and 6 days faster than September 2006.