March Winnipeg MLS Sales Reach Record Level
Winnipeg Home Sales Surpass 1,100 in March
The Winnipeg real estate market’s first quarter was capped off by the best
March on record with MLS® sales surpassing 1,100 for the first time and dollar volume
closing in on $180 million – more than double the March dollar volume recorded five
years ago. Another bright spot was the over 10 percent increase in new listings entered
in March. It is also noteworthy that 61 percent of the entire inventory turned over in
March.
March MLS® unit sales are up 12% (1,140 / 1,015) while dollar volume climbed even
higher at 18% ($177.4 million / $150.1 million) in comparison to the same month a year
ago. First quarter results show sales are ahead by 6% (2,492 / 2,353) and dollar volume
increased 14% ($388.7 million / $341.9 million) over the same period in 2006. The
conversion of MLS® listings-to-sales for the first three months of 2007 is an impressive
71 percent.
“Up, up and away is a good description of March with an increasing percentage of sales
activity occurring in the higher price ranges and conversely the lower range of under
$39,999 collapsing to only 12 residential-detached sales,” said Wes Schollenberg,
President of WinnipegREALTORS®. “As predicted earlier this year, condominium sales
are expected to gain MLS® market share in 2007 and this was borne out in March with
15% of total sales – one-third higher in percentage terms than March 2006.”
“Despite our lingering cool weather it is apparent spring has arrived when it comes to
real estate,” said Schollenberg. Buyers and sellers are best advised to seek out the
professional services of a REALTORS® to ensure they get the results they deserve.”
Residential-detached sales in March were most pronounced in the $160,000 - $199,999
price range with 19% of sales. A close second was the next lower price range of
$130,000 to $159,999 at 18%. The average days on market for March 2007 was 23
days, 4 days quicker than last month and the same as March 2006.