Best April on record for Winnipeg Home Sales
The Winnipeg real estate market was impressive in April, with the highest sales and dollar volume ever for this month of the year. New listings were also solid, increasing six per cent over last year and up 30 per cent going back to 2003 when Winnipeg's bull-market began in earnest.
Dollar volume is the highest it has ever been for the first four months of the year, with over $700 million in MLS® sales activity.
April MLS® unit sales totaling 1,355 and a dollar volume just shy of $273 million make April 2008 the best on record. April sales were up eight per cent (1,355 / 1,248) while dollar volume spiked 28 per cent ($272.7 million / $212.1 million) compared to the same month last year. Year-to-date MLS® sales are down only one per cent (3,689 / 3,740) while dollar volume continues its annual recordbreaking pace with a 17 per cent increase ($701.4 million / $600.8 million).
"What is most encouraging is the welcome influx of new listings onto MLS® this past month," said Darlene Clare, President of the WinnipegREALTORS® Association. "Close to 1,900 listings were entered and that is the highest total we have had for April in ten years."
"Of course, with more listings and demand remaining brisk, the equivalent of three out of four new listings were sold in April," said Clare. "As a result, WinnipegREALTORS® had its first April where MLS® sales eclipsed 1,300. Dollar volume is over double what it was for this month in 2004 ($272.6 million vs. $124.4 million).
"This record-setting month for April brings our year-to-date sales up almost even with 2007 for the same time period and dollar volume is a few percentage points higher than what we predicted it would be in our 2008 forecast," added Clare. "True to what we have been saying all year, our local market is buttressed by solid economic fundamentals and positive consumer sentiment. Despite the gloom and doom headlines down south, Manitobans realize real estate is a good investment here."
For residential detached sales, the most active segment of the MLS® market was the $160,000 to $199,999 range, with 22 per cent of the total sales. Next busiest is the over $300,000 price range, at 17 per cent. The under $100,000 price range has free fallen to the point where they represent less than 10 per cent of the total sales.
April is noteworthy for its three $1-million-plus home sales – the first time three have occurred in a single month. The most expensive one sold for $1,250,000. Average days on the market for the sales of MLS® residential-detached listings in April was 22 days, one day ahead of last month and a day slower than April 2007.