Winnipeg Real Estate

2 Story For Sale in Linden Woods

2010-02-28T18:39:00Z

Location, Location, Location.

• 3,000 sq. ft., 4 bath, 5 bdrm 2 story - MLS® $779,000

Linden Woods, Winnipeg - Location, Location, Location.....There is no better Location in Lindenwoods.
Great views of Lake and Park. This is a VERY RARE opportunity to own such a fine home.
Sweeping semi-circular driveway with 3-car insulated garage.
Low Maintenance yard, with Water Feature, Decks and access to the Lake and Park.
MAIN FLOOR: Large entrace Hall with sweeping stair case and marble tiles. Dining Room, Living Room, Eat-In Kitchen, Family Room, Sunroom, Office (or bedroom), 3-piece Bathroom, Mud Room leading to 3 car garage.
UPPER FLOOR: Master Bed Room with walk-in closet and 4 piece bathroom complete with jacuzzi type tub. Door to large Balconey. 3 further bedrooms plus a bonus room. 5-piece family bathroom.
BASEMENT: Large Rec Room, Bonus Room/Office with closet, storage rooms, Laundry, Pantry. Shower room and a 2-piece bathroom. Seperate entrance to rear of house.
This is the perfect family home, close to schools (can walk to elementary school across the park), shopping, bus routes and right on one of the best lots in the City.

Property information

Winnipeg November MLS® Sales Up 28%; Dollar Volume Rises 42%

2009-12-05T17:20:00Z

A NOVEMBER TO REMEMBER

- - -

MLS® Sales Up 28%; Dollar Volume Rises 42%

WINNIPEG - November was certainly a month to remember for weather with more spring-like temperatures and a strong rebound in job creation. MLS® activity responded favourably too with an all time best dollar volume figure for November and sales second highest on record for November. Only November 2007 was better and that was by only 43 sales.

Statistics Canada reported Manitoba reduced its unemployment rate from 5.8 to 5.3 per cent in November, placing it in a virtual tie with Saskatchewan (5.2 per cent) as having the lowest unemployment rate in the country. The mild and dry weather kept traffic busy at MLS® listed homes with 35 per cent of the sales going for above list price and it goes without saying many of them would have received multiple offers. It also resulted in reducing the overall MLS® inventory by one-third.

November MLS® unit sales were up 28% (837/656) while dollar volume soared 42% ($166.3 million/$116.9 million) in comparison to the same month last year. Year-to-date MLS® sales are down less than 5% (11,563/12,126) while dollar volume is now ahead by less than 1% ($2.34 billion/$2.33 billion) in comparison to the same period in 2008. It is noteworthy to mention year-to-date conversion of MLS® listings to sales has improved markedly from the beginning of the year where it was as low as 51 per cent. With only a month to go, it sits at 69% - just shy of the conversion rate for 2008.

“While Winnipeg’s positive turnaround the second half of this year has been no where near as dramatic as some other real estate markets in the country since it did not suffer the same drop off in sales activity in 2008, it is still very encouraging to see sales and in particular dollar volume surge back,” said Deb Goodfellow, president of WinnipegREALTORS®. “It has set the stage for our highest MLS® dollar volume year on record and MLS® sales finishing fourth or fifth best in 106 years.”

Another positive sign in November was new MLS® listings being up over the last number of years for this time of year. This is an indication REALTORS® are getting the message out that there are lots of buyers in the market willing to make a good offer on the right property.

For residential-detached sales, the two most active price ranges were the $150,000 - $199,000 and the $200,000 to $249,999 with each having 23% of total sales. Next busiest price range was the $100,000 - $149,999 at 19%. November amply proved how diverse Winnipeg’s real estate market is with a sale of $1.1million and another one at $3,500.

The average days on market for sales of residential-detached listings in November was 29 days, the same pace as last month, and 3 days quicker than November 2008.

WINNIPEG OCTOBER MLS® SALES MIRROR LAST YEAR’S

2009-11-29T16:44:00Z

WINNIPEG – MLS® Dollar Volume Up 10% to over $200 million

A recurring theme this year as evident in October has been the consistent dollar volume strength of the Winnipegresale market. Despite sales being softer this year than the two previous years, dollar volume in 2009 is within reach of setting a new all time level above last year’s record of $2.42 billion. Helping spur October’s high dollar volume relative to number of sales is three more million dollar plus home sales. There have now been 12 million dollar plus home sales and one million dollar plus condo sale, five more than the highest yearly total achieved in 2008. Also noteworthy in comparing October’s dollar volume to last October is the more pronounced activity in the $200,000 to $250,000 price range – a 30% increase over the same price range from a year ago.

Significant to the progression in Winnipeg’s housing market to this higher price range is the highest land transfer tax rate in the country at 2% kicks in after $200,000. So, if someone is buying a home at the top end of this price range at $250,000, they are paying the provincial government another $1,000 in addition to the $1,625 they are required to pay for a house value of $200,000. What is most troubling is an increasing number of these home buyers are first time buyers who in essence are being double taxed as they are using after tax income dollars to come up with the necessary down payment and closing costs. At least for second time buyers they may have the benefit of using the proceeds from the sale of their first home to help cover off the province’s land transfer tax. Of the provinces that have a land transfer tax, most offer a first time buyer exemption in recognition of this unfair tax treatment.

October MLS® unit sales were virtually identical (979/981) while dollar volume was up 10% ($201.4 million/$183.4 million) in comparison to the same month last year. Year-to-date MLS® sales are down 6% (10,726/11,470) while dollar volume is off less than 2% ($2.17 billion/$2.21 billion) in comparison to the same period in 2008. 37 % of the active MLS® inventory in October sold while 35% of homes sold in October went for above list price. These indicators show improvement over October 2008.

“Positive consumer sentiment combined with the opportunity to take advantage of historically low mortgage rates is fueling higher-end sales activity in our local market,” said Deborah Goodfellow, president of WinnipegREALTORS®. “Given what we faced earlier this year, the MLS® results now are encouraging and show consumers are confident in ownership of housing as a solid long-term investment.”

Even with rising house prices, affordability remains one of our market’s strongest suits with 83% of all residential-detached homes sold in October selling for less than $300,000. In comparison, Calgary had only 14% of its MLS® residential-detached sell for less than $300,000. And Winnipeg nearly had one in every two homes selling for under $200,000 whereas Calgary had less than 1% under $200,000.

Whatever price range you are considering selling or buying in, it is strongly advised you contact a REALTOR® to help you devise a strategy based on current market and neighbourhood information.

For residential-detached sales, the most active price ranges were the $150,000 - $199,999 and the $200,000 to $249,999 representing 25% and 23% respectively of total sales. A distant third price was the $100,000 to $149,999 at 14%. The average days on market of sales of residential-detached listings in October was 29 days, one day quicker than last month and one day slower than October 2008.

The highest residential-detached sale sold for $1,200,000 while the lowest went for $7,500.

3-Bed, 2 Story, 16.8 Treed Acres, For Sale in Anola

2009-11-08T15:46:00Z

Your Own 16 Acre Wooded Retreat

• 2,580 sq. ft., 3 bath, 3 bdrm 2 story - $359,000

Anola, Springfield - 16.50 Treed acres, for your private enjoyment, Gorgeous landscaping with Patio and Pond also a Golf Green and Fairway.
California Custom 2-Storey with 3 Bedrooms and 3 Full Baths including large en-suite bath.
Cathedral Ceiling.
2nd Floor Offers:- Modern Kitchen with Island and Pantry + door to upper deck, Living Room with Fireplace & Dining area, Master Bedroom with door to upper deck., with luxury En- Suite (Large "Jet" Bath with Seperate Shower). 2nd Bedroom and a 3-piece Family Bathroom. All 2nd floor rooms have views of the trees and garden..
Ground Floor Offers:- Large entrance porch, Family Room with Fireplace, 3-Season Sunroom, 3rd Bedroom, Laundry Room/Office with door to 2 car Attached Garage.
Water Softner, Reverse Osmosis water purifier, Electric and Wood Furnaces with Heat Recovery Ventilation System.
All appliances are included in the sale along with, Lawn Tractor with pull behind grass sweep/rake, Snow Blower.
Other Out-buildings, including wood store, kennel with fenced run, Garage sized shed.

Property information

House Price Index, October 2009, Teranet in alliance with National Bank of Canada (excludes Winnipeg)

2009-10-28T22:25:00Z

NEWSLETTER - OCTOBER 28, 2009

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OCTOBER 2009

A second consecutive month of price rises in all survey markets

Canadian home prices in August were down 3.4% from their pre-correction peak of August 2008, 12 months earlier, according to the Teranet-National Bank National Composite House Price Index™. It was the eighth consecutive 12-month decline, but the 12-month decline has been diminishing steadily since it peaked at 6.9% in May. The reason is that August is the fourth straight month in which the index reading for Canada as a whole has been up from the month before. The August rise of 2.0% was particularly vigorous. It was the second month in a row in which prices were up from the month before in all six of the metropolitan markets represented in the index. This turnaround is consistent with an improvement in market conditions in the first half of 2009 - more homes have been selling and fewer have been coming on the market.

The monthly rises in August were 2.7% in Toronto, 2.0% in Calgary, 1.7% in Vancouver, 1.5% in Ottawa, 1.2% in Montreal and 0.6% in Halifax. For Toronto it was the fourth consecutive rise of 2% or more, taking the cumulative gain to 9.4% in just four months. By way of comparison, Montreal showed a sixth consecutive rise but the cumulative six-month gain was only 4.8%.

In the three easternmost markets, Montreal, Halifax and Ottawa, August prices were above the pre-recession peak. Toronto prices are now down only 3.0% from their August 2008 peak. Vancouver prices are still down 7.7% from their June 2008 peak and Calgary's are down 12.9% from their peak of August 2007, two years earlier.

Metropolitan area	Index level August 2009	% change m/m	% change y/y
Calgary	152.69	2.0 %	-8.3 %
Halifax	122.84	0.6 %	0.9 %
Montreal	126.35	1.2 %	3.6 %
Ottawa	120.44	1.5 %	2.8 %
Toronto	113.82	2.7 %	-3.0 %
Vancouver	139.00	1.7 %	-7.7 %
National Composite	126.31	2.0 %	-3.4 %

The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given atwww.housepriceindex.ca

The Teranet–National Bank House Price Index™ is an independently developed representation of average home price changes in six metropolitan areas: Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax. The national composite index is the weighted average of the six metropolitan areas. The weights are based on aggregate value of dwellings as retrieved from the 2006 Statistics Canada Census. According to that census¹, the aggregate value of occupied dwellings in the metropolitan areas covered by the indices was $1.168 trillion, or 53% of the Canadian aggregate value of $2.207 trillion.

All indices have a base value of 100 in June 2005. For example, an index value of 130 means that home prices have increased 30% since June 2005.

By:

Marc Pinsonneault
Senior Economist
Economy & Strategy team
National Bank Financial Group

Teranet – National Bank House Price Index™ thanks the author for their special collaboration on this report.

¹ Value of Dwelling for the Owner-occupied Non-farm, Non-reserve Private Dwellings of Canada.

Contact Us
For general enquiries:
simon.cote@tres.bnc.ca

For licenses covering all index-linked products, please contact:
Simon Côté
simon.cote@tres.bnc.ca
514 879-5379

Website
www.housepriceindex.ca

Disclaimer
This monthly report, its layout and design as well as its content, including (without limitation) index data and related information and materials (“Index Data”) are protected by copyright law, both individually and as a collective work or compilation, and by trade-mark law, and other applicable laws. National Bank of Canada (“NBC”) and Teranet Inc. (“Teranet”) grant to you a limited non-exclusive, non-transferable license to view, copy and print this monthly report, provided that all copies that you make must be solely for your non-commercial, personal use, and must retain all copyright and other notices that are on this web site. Except as provided in the previous sentence, you may not (for either commercial or non-commercial use) use, distribute, sell, modify, transmit, revise, reverse engineer, republish, post or create derivative works (where applicable) of any content of this monthly report without the prior written permission of Teranet and National Bank (who are referred to collectively herein as the “Index Data Providers”. Without limiting the generality of the foregoing, the Index Data and other Index Data Provider intellectual property contained in this monthly report may not be used as a basis for any financial instruments or products (including, without limitation, passively managed funds and index-linked derivative securities), or used to verify or correct data in any other compilation of data or index, or used to create any other data or index (custom or otherwise), without the Index Data Providers’ prior written permission. You acknowledge and agree that you will not acquire any rights or licenses in the content of this monthly report.

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In no event shall any of NBC, Teranet, their respective affiliates, any of their or their direct or indirect information providers nor any other third party involved in, or related to, compiling, computing or creating any of the Index Information (collectively, the "Index Data Provider Parties") have any liability to any person or entity for any damages, whether direct, indirect, special, incidental, punitive, consequential (including, without limitation, loss of use, lost profits or revenues or any other economic loss) arising in any manner out of your use or inability to use any of the Index Data contained in this monthly report, even if such party might have anticipated, or was advised or notified of, the possibility of such damages.

The Teranet - National Bank House Price Index™ is an independently developed representation of the rate of change of Canadian single-family home prices. The measurements are based on the property records of public land registries. The monthly indices cover six Canadian metropolitan areas: Calgary, Halifax, Montreal, Ottawa, Toronto and Vancouver. The metropolitan areas are combined to form a Canadian composite index.

In addition to their informational role, the Teranet - National Bank House Price Index™ was developed to be trustworthy benchmark for financial professionals. Teranet and NBC offer licenses covering all index-linked products.

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National Bank Financial Inc. is an indirect wholly owned subsidiary of NBC. NBC is a public company listed on Canadian stock exchanges.

3 Bed House for Sale at 522 Windsor Ave in East Kildonan

2009-10-26T16:32:00Z

East Kildonan, Winnipeg - Announcing 522 Windsor Ave, a 1,558 sq. ft., 2 bath, 3 bdrm 2 story. For only - - $149,950 - Below City Assessed Valuation.

Property information

269 Royal Ave in West Kildonan is Sold!

2009-10-24T20:35:00Z

West Kildonan, Winnipeg - The single story at 269 Royal Ave has been sold.

Property information

Winnipeg MLS® Residential Sales Friday 17th October 2009

2009-10-17T15:13:00Z

Some Sales from Yesterday

Style	Sq.Ft	D.O.M	Yr.Built	List $	Sold $	Neighborhood

Bungalow	1037	15	1989	239900	239000	GARDEN GROVE
One and a Half	1132	11	1912	124900	122000	BURROWS CENTRAL
One and Three Quarters	1122	15	1948	164900	164000	ST BONIFACE
Two and a Half	2127	15	1911	259000	259000	WOLSELEY

D.O.M.=Days on Market.

To receive customised reports on the Winnipeg House and Condo Sales for Your Area, Neighbourhood or even Street, just contact me and I can arrange your own personal reports, at no charge and at no obligation to you.

Winnipeg MLS® Residential Sales Tuesday 13th October 2009

2009-10-14T20:58:00Z

Style	Sq.Ft	D.O.M.	Yr Built	List $	Sold $	Neighborhood
Two Storey	1363	5	1997	269900	286125	RIVERBEND
Two Storey	1070	7	1967	149900	173500
Two Storey	1705	7	2003	334900	340101	RIVER PARK SOUTH
Two Storey	1156	9	1978	189900	189900	WAVERLEY HEIGHTS
Bungalow	1006	8	1952	189900	223500	WEST KILDONAN
Bungalow	1051	12	1960	214900	226000	WINDSOR PARK

D.O.M.=Days on Market.

New House Starts in Canada September 2009

2009-10-08T21:44:00Z

September Housing Starts

OTTAWA, October 8, 2009 — The seasonally adjusted annual rate¹ of housing starts reached 150,100 units in September compared to 157,300 units in August, according to Canada Mortgage and Housing Corporation (CMHC).

“The decline in housing starts in September is attributable to the volatile multiple starts segment,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “However, starts of single homes, which are a barometer of the trend in housing markets, climbed in September to reach their highest level so far this year. The rebound in existing home sales and the upward trend in new home construction, support our expectation that housing demand has strengthened and that housing starts will be stronger in the second half of 2009.”

The seasonally adjusted annual rate of urban starts declined by 5.2 per cent to 131,500 units in September. Urban multiple starts decreased by 21.4 per cent to 62,700 units, while urban single starts moved up 16.8 per cent to 68,800 units in September.

September’s seasonally adjusted annual rate of urban starts increased by 11.8 per cent in Ontario, decreased by 20.2 per cent in Quebec, by 18.1 per cent in British Columbia, and by 4.7 per cent in the Atlantic, and was unchanged in the Prairies.

Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in September².

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

For more information, call 1-800-668-2642.

¹ All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.

² CMHC estimates the level of rural starts for each of the three months of the quarter, at the beginning of each quarter. During the last month of the quarter, CMHC conducts the survey in rural areas and revises the estimate.

Information on this release:

Charles Sauriol
CMHC
Media Relations
613-748-2799
csauriol@cmhc-schl.gc.ca

For regional starts information contact:

Atlantic provinces:
Alex MacDonald
CMHC
902-426-8964
amacdona@cmhc-schl.gc.ca

Ontario:
Ted Tsiakopoulos
CMHC
416-218-3407
ttsiakop@cmhc-schl.gc.ca

British Columbia:
Carol Frketich
CMHC
604-737-4067
cfrketic@cmhc-schl.gc.ca

Quebec:
Kevin Hughes
CMHC
514-283-4488
khughes@cmhc-schl.gc.ca

Prairie provinces:
Lai Sing Louie
CMHC
403-515-2991
llouie@cmhc-schl.gc.ca

Housing Starts, Actual and SAAR*
	Actual		SAAR
	September 2008	September 2009	August 2009	September 2009
	Final	Preliminary	Final	Preliminary
Canada, all areas	20,179	14,801	157,300	150,100
Canada, rural areas	2,518	1,777	18,600	18,600
Canada, urban centres**	17,661	13,024	138,700	131,500
Canada, singles, urban centres	6,309	6,741	58,900	68,800
Canada, multiples, urban centres	11,352	6,283	79,800	62,700

Atlantic region, urban centres	1,030	970	8,500	8,100
Quebec, urban centres	3,575	3,169	43,600	34,800
Ontario, urban centres	7,305	4,798	43,200	48,300
Prairie region, urban centres	2,625	2,620	26,300	26,300
British Columbia, urban centres	3,126	1,467	17,100	14,000

Source: CMHC
*Seasonally adjusted annual rates
**Urban centres with a population of 10,000 and over.
Detailed data available upon request.

Winnipeg September 2009 MLS® Home Sales Up 3%; Dollar Volume Rose 11%

2009-10-06T21:05:00Z

FIRST RECORD MLS® SALES MONTH IN 2009

It took nine months to set a new monthly MLS® sales record this year but they say patience is a virtue so it is worth waiting for. Third quarter MLS® sales in 2009 were almost on par with the same period in 2008. This result shows theWinnipeg real estate market has returned to its former glory with healthy market activity. Even more impressive is the continued dollar volume rise as evident from an 11% increase from 2008 to 2009 in the third quarter. Year-to-date dollar volume is now less than 3% off the record dollar volume pace set last year and just $25 million away from reaching the $2 billion mark for the third consecutive year. It is quite conceivable that with a solid fourth quarter performance 2009 will usher in a newWinnipegREALTORS® dollar volume record. Last year’s total MLS® sales eclipsed $2.4 billion.
In being the best September in 106 years September 2009 also recorded two million dollar plus MLS® sales. As a result, the ten year-to-date million dollar plus sales are more than any other year as 2008 had the most previously at eight. The two recent ones are a Wellington Crescent apartment condo and a 6,000 sq. ft. Tuxedo home which sold for above list price.
September MLS® unit sales were up 3% (1,127/1,097) while dollar volume jumped 11% ($227.6 million/$204.9 million) in comparison to the same month last year. Year-to-date MLS® sales are down 7% (9,747/ 10,489) while dollar volume is off less than 3% ($1.97 billion/$2.03 billion) in comparison to the same period in 2008. Conversion of MLS® listings-to-sales this year is 67%, a few percentage points off last year’s conversion rate. Home and condo conversions are running at 72 and 73% respectively.
“The absolutely terrific above average weather in September shone brightly on our local real estate market as sales were the best on record for this month,” said Deborah Goodfellow, president of WinnipegREALTORS®. “We are recovering from our slow start this year as the third quarter performed extremely well and there is no reason to believe we cannot finish strong in the fourth quarter.”
A recent Statistics Canada report showing Manitoba’s population growth had its best quarterly increase since record-keeping began in 1971 can only bode well for keeping demand brisk in the local housing market. It becomes even more pronounced when you consider the acute shortage of good rental units as an alternative living accommodation. Low unemployment numbers and very favourable mortgage rates are also contributing factors to helping WinnipegREALTORS® have one of its best years on record.
For residential-detached sales, the most active price ranges were the $150,000 to $199,999 and the $200,000 - $249,999. They represented 24% and 21% respectively of total residential-detached sales. Interestingly enough, similar percentages of total sales in these two price ranges were also found in condominium sales for September 2009. However, 23% the of condo sales were between $100,000 to $149,999, whereas in residential-detached it was only 14%
The average days on market of sales for residential-detached listings in September was 30 days, the same as last month and 4 days slower than September 2008.

Canadian House Price Index September 2009 - Excludes Winnipeg (Teranet with National Bank of Canada)

2009-09-30T21:49:00Z

NEWSLETTER - SEPTEMBER 30, 2009

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Cliquez ici pour la version française

SEPTEMBER 2009

Monthly price rises in all markets surveyed

Canadian home prices in July were down 5.1% from a year earlier, according to the Teranet-National Bank National Composite House Price Index™. Though it was the eighth consecutive 12-month decline, it was also the first time in 13 months that prices in every region covered by the index were up from the month before. For the composite index it was a third consecutive monthly rise. The trend reversal is consistent with improving market conditions for the country as a whole in recent months - more homes have been selling and fewer have been coming on the market.

The July monthly rises were 2.6% in Ottawa, 2.2% in Toronto, 1.5% in Vancouver, 0.8% in Halifax, 0.7% in Montreal and 1.0% in Calgary. For Calgary it was a first monthly rise after 12 consecutive months of decline. In three of the six markets surveyed, July prices were also above the pre-recession peak, as Halifax and Ottawa joined Montreal on this score. In the other markets, prices were still below those of a year earlier. The decline was 4.6% in Toronto, 9.3% in Vancouver and 11.1% in Calgary.

Metropolitan area	Index level July 2009	% change m/m	% change y/y	From peak	Peak Date
Calgary	149.75	1.0 %	-11.1 %	-14.6%	August 2007
Halifax	122.16	0.8 %	0.5 %	0.0%	July 2009
Montreal	124.85	0.7 %	2.7 %	0.0%	July 2009
Ottawa	118.64	2.6 %	2.6 %	0.0%	July 2009
Toronto	110.88	2.2 %	-4.6 %	-5.5%	August 2008
Vancouver	136.67	1.5 %	-9.3 %	-9.3%	June 2008
National Composite	123.87	1.6 %	-5.1 %	-5.3%	August 2008

By:

Marc Pinsonneault
Senior Economist
Econony & Strategy Group
National Bank Financial Group

Teranet – National Bank House Price Index™ thanks the author for their special collaboration on this report.

¹ Value of Dwelling for the Owner-occupied Non-farm, Non-reserve Private Dwellings of Canada.

Contact Us
For general enquiries:
simon.cote@tres.bnc.ca

For licenses covering all index-linked products, please contact:
Simon Côté
simon.cote@tres.bnc.ca
514 879-5379

Website
www.housepriceindex.ca

National Bank Financial Inc. is an indirect wholly owned subsidiary of NBC. NBC is a public company listed on Canadian stock exchanges.

Price Reduced on 269 Royal Ave in West Kildonan

2009-09-30T12:21:00Z

West Kildonan, Winnipeg - Announcing a price reduction on 269 Royal Ave, a 800 sq. ft., 1 bath, 3 bdrm single story. Now $139,000 - .

Property information

WINNIPEG SETS ANOTHER MLS® MONTHLY DOLLAR VOUME RECORD IN AUGUST 09

2009-09-09T12:26:00Z

ANOTHER MLS® MONTHLY DOLLAR VOUME RECORD SET

_ _ _

August MLS® Dollar Volume Reaches $231 million

WINNIPEG - While MLS® sales in August fell short of last year’s mark by only 17 sales and 11 % off the best sales month on record for August in 2005, this year’s August, based on prices in general being slightly better in comparison to last year, recorded its best dollar volume result ever for this month at $231 million. It also paves the way for the third consecutive year of $2 billion worth of MLS® sales activity as year-to-date dollar volume now sits at $1.75 billion.

August 2009 also saw WinnipegREALTORS® record its 8^th million dollar plus home sale which is equal to the most sales ever sold in one year in this price range. It was an impressive newly built home in Waverley West that sold for $1,290,000. With four months to go, there is a distinct possibility another one or more luxury homes may sell before year end. There are currently 18 million dollar plus MLS® listings – 16 homes and 2 condominiums. The highest list price is a Wellington Crescent home going for $2,800,000.

Talking about million dollar plus home sales, the Calgary Real Estate Board sold its first $10 million home in August. It was the home of former NHL goaltender Mike Vernon.

Also noteworthy, is year-to-date sales activity in comparison to the same period last year is improving and coming within a few percentage points now of WinnipegREALTORS® January forecast. It predicted home sales would be down 5% from last year and house prices up in the low single digits as opposed to double-digits like the past six years.

August MLS® unit sales were down 1% (1,151/1,168) while dollar volume rose 6% ($231.2 million/$218.9 million) in comparison to the same month last year. Year-to-date MLS® sales are off 8% (8,620/9,392) while dollar volume is down only 4% ($1.75 billion/$1.83 billion) in comparison to the same period in 2008. Year-to-date active MLS® listings of 3,000 at month end are tracking very close to last year while listings entered on the MLS® to the end of August are at 13,000, slightly lower than 2008.

“August 2009 is looking very much like August 2008 and that is just fine by me,” says Deborah Goodfellow, president of WinnipegREALTORS®. “Both of these months rank among the best for this time of year and indicate Winnipeg’s real estate market is on a solid footing with buyers confident in moving forward in their purchase decisions. Helping this along are news reports of a national market recovery and Manitoba faring better than most other provinces in employment and GDP growth.”

“Maintaining a relatively good inventory with 3,000 MLS® listings is also ensuring more balance in our current market where there is price stability and moderation,” said Goodfellow. “With more summer-like weather returning to our province this September, it certainly cannot hurt to put buyers in a better mood to check out all the MLS® listings on the market and contact a REALTOR® if they are serious about making a move.”

One thing to keep in mind with any property is how long on average it may take to sell. There are a number of factors involved and price is by far one of the most important ones. In looking at WinnipegREALTORS® market thus far this year, there are some clear differences when you consider different price ranges. In the $500,000 and over price range, the average days on market for the 10 sales in August was 50 days. In stark contrast, for the 198 homes selling in the $150,000 to $199,999 price range, they were only on the market for 23 days. The year-to-date days on market numbers for these price ranges are almost identical to August.

For residential-detached sales, the most active price ranges were the $150,000 to $199,999 and the $200,000 to $249,999 with 24% and 22% respectively of total sales. The next most active price range at 14% of sales was from $100,000 to $149,999.

The average days on market for sales of MLS® residential-detached listings in August was 30 days, the same as last month and 5 days slower than August 2008. The average days on market for the 128 condominium units sold in August was 40 days, 7 days slower than last month and over 2 weeks off the pace set in August 2008.

34% of all condos sold in the price range from $100,000 to $149,999 and another 20% sold in the price range from $150,000 to $199,999.

Canadian Real Estate Association adjusts housing market forecast upward

2009-09-05T17:49:00Z

MLS® home sales were much stronger than expected in the second quarter of 2009, with activity having climbed throughout the quarter and into July, according to the Canadian Real Estate Association.

The remarkable recovery of resale housing has prompted a change to the MLS® home sales forecast issued by CREA for 2009 and 2010.

The speed and magnitude of the rebound in sales activity to date has lifted CREA’s national forecast for the number of transactions to 432,600 units. This represents an annual decline in activity of 0.4 per cent compared to levels set in 2008, and is a significant upward revision from the previously forecast decline of 14.7 per cent in CREA’s forecast issued last May.

“Sales activity started off the third quarter on a strong footing,” said CREA president Dale Ripplinger. “The difference in the resale housing market now, compared to the beginning of the year, is night and day, and nowhere is this more evident than in the West.”

British Columbia and Ontario are now forecast to post annual increases in activity this year, reflecting weak demand last year and a subsequent rebound.

Forecast declines in annual activity were trimmed significantly in Alberta, Saskatchewan, and Quebec, and were also shaved for New Brunswick and Nova Scotia.

In Manitoba, the forecast is for a decline in MLS® residential sales by five per cent to 12,850 units this year, but CREA is calling for a 3.5 per cent increase in sales to 13,300 units in 2010.

WinnipegREALTORS® president Deborah Goodfellow said the Manitoba and Winnipeg housing markets have been “steady as she goes” throughout last year and this year, while other Canadian markets are only now regaining lost momentum after experiencing severe home sales declines in 2008 and earlier this year.

“While there is more news reported of the Canadian economy recovering from the recession,” said Goodfellow, “Manitoba has been very resilient throughout this period and has withstood any serious impact from the economic downturn.”

National MLS® home sales activity is forecast to rise 5.3 per cent to 455,400 units in 2010, according to CREA. This is a smaller rise in activity than previously forecast.

“Low interest rates are boosting sales by returning home buyers to the market who moved to the sidelines late last year,” said CREA chief economist Gregory Klump.

“Buyers are also shifting purchase decisions forward as they take advantage of attractive interest rates now before financing costs increase.”

New listings have been edging down from record levels, with many sellers taking their homes off the market pending an improvement in housing market conditions. Average price increases in the second half of 2009 are likely to result in a mild rebound in listings in 2010.

The national MLS® average home price is forecast to edge up 1.5 per cent in 2009. Some of Canada’s most expensive markets continue to skew the national average price upward.

Alberta is the only province with a forecasted decline in average price in 2009 (-4.4 per cent). Average prices are forecast to rise in all other provinces except British Columbia, where the average price in 2009 is expected to remain stable.

In Manitoba, the average price is expected to increase by 6.2 per cent to $202,100 this year, and rise another 2.7 per cent to $207,500 next year.

CREA’s previous forecast predicted a decline in the national average price of 5.2 per cent in 2009.

Average prices are forecast to stabilize over the rest of 2009 and into 2010, but weak results in the first quarter of 2009 will result in a lower annual average price this year compared to 2010, according to the revised forecast. The national average price is forecast to be up 2.1 per cent on a year-over-year basis in 2010.

“The speed with which the Canadian resale housing market has rebounded is unprecedented,” said Klump. “The economic recovery is expected to be slow and protracted, so the dramatic swings in activity seen in late 2008 and this year are unlikely to be repeated

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Contact Us
For general enquiries:
simon.cote@tres.bnc.ca