Newer park model home built in 2010. This property has it all. 1400 square feet, 3 bedrooms and 2 full baths. Cayenne Maple cabinets with peninsula kitchen, double stainless steel sink, Harvard Slate maintenance free exterior, weather wood shingles, cathedral ceilings, master bath with jetted tub, walk-in closet, central air conditioning, situated in a nice setting with treated deck, Chippendale railing, double paved parking pad, 8 x 12 shed and many years left on the builders warranty. Also included in the sale of this property is built-in dishwasher, built-in microwave, refrigerator, stove, washer, dryer and all window coverings. If you are looking to live in a quiet park, close to River Park South, public transportation and all conveniences then call today. Shows AAA

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For Immediate Release

AN IMPRESSIVE FINISH TO 2011

Best December Ever At Just Under 700 MLS® Sales

WINNIPEG - Based on the busiest December on record in WinnipegREALTORS® 108-year history, you have to surmise that some of all those gift cards being purchased in December had to be house-warming gifts. December sales have never been at the 700 level mark before nor has dollar volume climbed so high to $182 million – a total that is leaps and bounds over any previous December. Prior to 2009, no December dollar volume ever eclipsed $100 million.

The strong finish to 2011 encompassed the entire second half with new monthly sales records or near best results. It led to WinnipegREALTORS® having its first $3 billion year worth of MLS® sales and the second best MLS® sales year – only nudged out by 13 sales in 2007.  There is no question something special and significant happened to this city when the announcement was made of the return of Winnipeg to the NHL. Buyers gained confidence and were clearly motivated by the low borrowing costs that persisted throughout 2011 given the uncertain global outlook.

A real encouraging sign in December, as well as the year as a whole, was the improvement in MLS® inventory. New listings in the last month of the year were over 600 for the second year in a row. Total listings entered on MLS® in 2011 went over 18,000 for the first time in many years. The distinct advantage of more choice of new MLS® listings this December was a factor in almost catching the best annual sales on record in 2007. It is worth noting 2011 is only the second time WinnipegREALTORS® has had MLS® sales go over 13,000.

December MLS® unit sales increased 7% (698/653) while dollar volume shot up 19% ($182.0 million/$153.0 million) in comparison to the same month last year. 2011 MLS® unit sales ended up 7% (13,065/12,236) while dollar volume rose 12% ($3.06 billion/$2.73 billion) in comparison to the 2010. The 18,381 listings entered on MLS® in 2011 were up 3% from 2010 and conversion of these listings to sales finished at 71%, an improvement too over the previous year where it had fallen under 70 %. 

“Pleasantly surprised and pleased at how we finished 2011 would be an accurate reflection of how we feel given our expectations were more muted at the beginning of the year,” said Ralph Fyfe, outgoing 2011 president of WinnipegREALTORS®. “As the year progressed it became evident momentum was on our side and it carried us all the way through to a record dollar volume year and a near miss on achieving a new benchmark for sales.” 

Here is how things shook out in terms of the different MLS® property types. Residential-detached closed the year out with a 6% increase in sales over 2010. The over 9600 sales transacted represented 74% of total MLS® market share. Condominiums reached their highest level ever at close to 1,600 sales and were up 10% over 2010. These sales account for another 12% of MLS® activity in 2011. The biggest improvement however in sales as far as property types goes is the 27% increase in vacant lots from 414 in 2010 to 525 in 2011.  

Owing to the outstanding MLS® residential-detached sales activity in the Steinbach MLS® area where sales alone exceeded 500, the rural MLS® areas grabbed 24% of all MLS® residential-detached sales. The southwest quadrant of Winnipeg was second at 19%.  

As for average residential-detached sales prices for the different quadrants of the city and for rural municipalities, there is a significant spread between the highest and lowest prices. The southwest quadrant of Winnipeg is $341,461 while West Winnipeg, neighbourhoods north of the Assiniboine River and west of the downtown finished at $202,152. Winnipeg’s southeast quadrant for the first time reached $300,000 and rural municipalities ended up third highest at $250,000. The overall average residential-detached price reached its highest level on record at $256,748. It is up 6% from 2010. 

“When we say all real estate markets are local it certainly applies to Winnipeg and is readily apparent when you see how divergent some of the prices are within the overall market region,” said Fyfe. “The most important statistic to you is the home you are selling or buying so you really do need to enlist a REALTOR® - a local expert – to interpret and assess your particular situation and advise you accordingly.” 

The most active residential-detached price range in December was from $200,000 to $249,999 at 19% of total residential-detached sales activity. In sharp contrast, the most active condominium price range was from $150,000 to $199,999 at 53% of total condominium sales activity. For the year, the same price ranges were dominant for the aforementioned property types with percentages of 23% and 42% respectively.

The average days on market for residential-detached sales in December was 28 days, 1 day slower than last month but 5 days quicker than December 2010. As for the year, the average days on market was 26 days, just a day faster than 2010. For condominiums, the average days on market to sell in December was only 21 days, 11 days quicker than last month and 9 days faster than December 2010. For the entire year, the average days on market for condominiums was 29 days, one day faster than 2010.

The highest residential-detached sale price in 2011 was $1,750,000 while the lowest was just $14,000. The highest condominium sale price was $649,900 and the lowest was $35,000. 

More detail on the year that was in 2011 will be reviewed at WinnipegREALTORS® annual forecast event to be held on Wednesday, January 25^th. Predictions will also be made for MLS® sales activity in 2012.                                   

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 Immediate Release

MOMENTUM PUSHES NOVEMBER MLS® MARKET ACTIVITY TO NEW HIGH

November MLS® Dollar Volume Surpasses $200 Million for First Time

WINNIPEG - Mustache or not, WinnipegREALTORS®’ Movember stands for MLS® momentum. In the last few months, 2011 has been exceptional and now the year-to-date is challenging the best year ever… 2007. November set a new sales record for the month, edging out November 2007 by one sale. The dollar volume vaulted 30% higher than 2007 and is 11% better than 2010, which was the highest November on record until this year.

While it appears 2007, with a 200 sale lead over 2011, is a sure bet to hold its title as the all time best year with over 13,000 MLS® sales, it will easily be supplanted by 2011 for dollar volume. It is still possible, if momentum carries the day again in December, that 2011 could be only the second year in WinnipegREALTORS® illustrious 108-year history to crack the 13,000 sales level.

November MLS® unit sales increased 6% (881/829) while dollar volume rose 11% ($202.1 million/$182.2 million) in comparison to the same month last year. Year-to-date MLS® sales are up 7% (12,367/11,583) while dollar volume is ahead by 12% ($2.88 billion/$2.58 billion) in comparison to the same period last year. Just under 70% of all listings entered on the MLS® have sold this year.

The residential-detached property type led the way this month with an 8% increase in sales and 14% rise in dollar volume in relation to what happened last November. It  also made up 74% of all MLS® sales activity this month. Condos grabbed the second highest market share at 12% of total MLS® sales.

Speaking of condominiums, with a month to go, sales for the first time have gone over 1,500 and that represents a 12% increase over the same period last year. However, the most notable and marked positive change in sales from last year is vacant lots with 500 sales so far and a 25% increase over 2010.

“Contrary to what some people and prognosticators think given global economic uncertainty and warning signs for Canada’s economic outlook, our local MLS® market is firing on all cylinders as consumers are seeing housing as a haven of stability in contrast to other investments,” said Ralph Fyfe, president of WinnipegREALTORS®. “Of course helping them make their decision easier is the continuation of very low and favourable mortgage rates. As a result, Winnipeg still has some of the most affordable house prices for any major city in Canada and certainly is by far the lowest among Canadian cities with an NHL team.”

“One reason condominiums have been so popular this year is not only for the alternative lifestyle they offer a buyer but also the attractive pricing compared to detached single family homes,” said Fyfe. “Over 50% of condominium sales in November sold in the $150,000 to $199,999 price range whereas with residential-detached homes, only 18% sold in this price range.

For residential-detached sales in November, the most active price range was from $200,000 to $249,999 with 24% of total sales. The ranges immediately above and below this range were evenly split and together, represented another 35% of total sales. As for condominiums, $150,000 to $199,999 with 53% of total sales was the most active range. A distant second range was from $100,000 to $149,999 at 18%.

The average days on market to sell a residential-detached home was 27 days, 2 days quicker than last month and 5 days faster than November 2010. The average days on market to sell a condominium was 32 days, 3 days slower than last month and 2 days faster than November 2010.

Fantastic 2 storey duplex in Glenelm with up & down suite. Renovations include both kitchens, bathrooms, laundry room, and so much more. Property looks great from inside and outside. Main floor suite has 2 piece powder room, 2 bedrooms, gorgeous master bedroom, living/dining room combination, porch, full basement with rec-room, 4 piece bathroom and laundry room. Patio doors off dining room with large deck. Upper suite is a 1 bedroom, very nicely finished. Property includes 2 stoves, 2 built-in microwaves, 2 dishwashers, 2 fridges, 2 washer & dryers and 2 sheds. Room for parking 2 cars in back. Great property for owner occupied main floor and rent out top floor, or purchase and rent out both units. Upper unit currently rented at $850 a month. 2 showing days only Monday Dec 5, 9am-4pm and Saturday Dec 10, 12pm-4pm. Offers Sunday Dec 11 at 2PM.

Fantastic 2 storey duplex in Glenelm with up & down suite. Renovations include both kitchens, bathrooms, laundry room, and so much more. Property looks great from inside and outside. Main floor suite has 2 piece powder room, 2 bedrooms, gorgeous master bedroom, living/dining room combination, porch, full basement with rec-room, 4 piece bathroom and laundry room. Patio doors off dining room with large deck. Upper suite is a 1 bedroom, very nicely finished. Property includes 2 stoves, 2 built-in microwaves, 2 dishwashers, 2 fridges, 2 washer & dryers and 2 sheds. Room for parking 2 cars in back. Great property for owner occupied main floor and rent out top floor, or purchase and rent out both units. Upper unit currently rented at $850 a month. 2 showing days only Monday Dec 5, 9am-4pm and Saturday Dec 10, 12pm-4pm. Offers Sunday Dec 11 at 2PM.

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November 8, 2011

For Immediate Release

2011 WINNIPEG REAL ESTATE MARKET EXCEEDING EXPECTATIONS

Year-to-Date MLS® Sales Less Than 2% Off Best Year Ever in 2007

WINNIPEG – In what has clearly become a surprisingly consistent and impressive string of solid month sales, and October is no exception with the second best sales on record for this month, 2011 has now supplanted 2008 for second place and with two months to go, is less than 2% off the strongest sales performance ever in 2007. Year-to date dollar volume is already the highest achieved in WinnipegREALTORS® 108-year history with $2.67 billion dollars worth of MLS® sales. 

October 2011 helped get the fourth quarter off to a great start with everything up in  double-digit percentages. New listings rose 11%, sales were ahead by 13% and dollar volume reached 20%. Only 2007, the year that 2011 is nipping at its heels, had better sales in October. 

October MLS® unit sales increased 13% (1,076/949) while dollar volume was up 20% ($256.9 million/ $214.2 million) in comparison to the same month last year. Year-to-date MLS® sales are up 7% (11,486/10,754) while dollar volume has increased 12% ($2.67 billion/$2.39 billion in comparison to the same period last year. Nearly 70 % of all MLS® listings entered on the market this year have sold thus far. 

“This year has been all about exceeding expectations,” said Ralph Fyfe, president of WinnipegREALTORS®. “One good example is how we were too conservative on projecting our home sales. We underestimated the emergence of heightened listings and sales activity in new developments such as Waverley West, east Transcona, and even in rural hot spots such as Steinbach.”

Another factor is the continuation of very attractive mortgage rates in combination with uncertainty around alternative investments such as the stock market. The last months in particular have been performing exceptionally well. October 2011outperformed the previous 10-year sales average by 10%.

Owing to improvement in the overall number of listings coming on the market in the last few months, inventory has improved and created a more balanced market. One indicator of this development in October is the total sales price to total listing price ratio falling under 100%. This means there is less price pressure on listings and in fact 56% of homes sold in October went for less than list price. 

For residential-detached sales in October, the most active price range was from $200,000 to $249,999 with 23% of total sales. The immediate price ranges below and above this one were in a virtual deadlock with 17 and 18% respectively of total sales. October 2011 had one house sale for $1,750,000 in St. Germaine and another million dollar home sell in Fort Garry. Condominium sales activity was dominant in the $150,000 to $199,999 price range with 44% of total sales.

The average days on market to sell a residential-detached home was 29 days, 3 days slower than last month and only one day off the pace set in October 2010. The average days to sell a condominium in October was 26 days, 9 days quicker than last month and 5 days faster than October 2010. 

As in any local market with the mix and diversity Winnipeg has within the entire capital region, whether you are buying or selling, you need to be talking to a REALTOR®. They are market experts able to provide a very accurate reflection of the current market based on the unique features and attributes of a particular property.

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.

Showings start Friday Nov4, offers reviewed Tues Nov 8, evening. Great opportunity to purchase this long time owner occupied home. Good curb appeal, 3 bedrooms, home seems very solid and just needs a little TLC. All bedrooms are a good size. Main floor bathroom and laundry. Shingles, furnace and fridge all new in 2003. Included with this home is the fridge, stove, washer and dryer. Nice yard and area. The street dead ends on this block so it is not a through street. Nice quiet street. Do not hesitate to see it.

Showings start Friday, November 4, offers as reviewed. New park model home built in 2010 with over 8 years left on the builders warranty. This property has it all. 1400 square feet, 3 bedrooms and 2 full baths. Cayenne Maple cabinets with peninsula kitchen, double stainless steel sink, Harvard Slate maintenance free exterior, weatherwood shingles, cathedral ceilings, master bath with jetted tub, walk-in closet, central air conditioning, private secluded setting with treated deck, Chippendale railing, double paved parking pad, 8 x 12 shed. Also included in the sale of this property is built-in dishwasher, built-in microwave, refrigerator, stove, washer, dryer and all window coverings. If you are looking to live in a quiet park, close to River Park South, public transportation and all conveniences then call today. Shows AAA+

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For Immediate Release

SEPTEMBER MLS® MARKET AS HOT AS THE WEATHER

September MLS® Sales Surpass 1,200 for First Time

WINNIPEG – Balmy summer weather in September created summer-like market activity which led to a third consecutive month of over 1200 MLS® sales. As a result, it makes September 2011 WinnipegREALTORS® best September in 108 years. September 2010 was the previous best September on record. The dollar volume was impressive too as it easily eclipsed last year’s record by $30 million. With three months to go, year-to-date MLS® dollar volume stands at over $2.4 billion and MLS® sales of 10,400 are flirting with the best year ever in 2007 when there were over 13,000 MLS® sales by year end.

Call it what you will, a jet -fueled market with our new NHL team ready to take-off this weekend, and exciting new developments including an IKEA, a Canadian Museum for Human Rights, a new football stadium, an expanded Winnipeg Convention Centre and a new airport opening at the end of the month, Winnipeggers are optimistic about what is happening in our city.

Another undeniable factor pointed out by the Canadian Real Estate Association’s chief economist Gregory Klump is due to global economic instability and uncertainty and the increasing volatility in the stock market, interest rates are being kept lower for longer so real estate becomes an attractive alternative investment. Moreover, as CREA president Gary Morse stated in commenting on the August MLS® market results where Winnipeg clearly was one of the best performing markets bar none in the country, … “homebuyers are showing that they remain confident about the stability of the Canadian housing market, and recognize that the continuation of low interest rates represents an excellent opportunity to buy their first home or trade up.”

September MLS® unit sales increased 6% (1,214/1,142) while dollar volume rose 12% ($278.4 million/$248.0 million) in comparison to the same month a year ago. Year-to-date MLS® sales are up 6% (10,410/ 9,805) while dollar volume has increased 11% ($2.42 billion/$2.18 billion) in comparison to the same period last year. Two out of every three of the 15,300 listings entered on the MLS® market this year have sold.

“We did not miss a beat in September as the market continued to pick up right where it left off in August,” said Ralph Fyfe, president of WinnipegREALTORS®. “New listings increased over last September and buyers responded given there were more to choose from.”

Fyfe added, “While some of the provincial election signage may have overshadowed our REALTOR® signs this past month, you can expect to see lots of our member signs out and about in October given the continuing strength of our local real estate market.”

Vacant lots and condominiums continue to be the best performing MLS® property types this year with year-to-date increases of 26 and 14% respectively. Residential-detached sales are up almost 5%.

For residential-detached sales in September, the most active price range by far was the $200,000 to $249,999 with 26% of total sales. The under $100,000 market continues to erode with only 4% of the market and the longest days to sell of 41 days. The average days on market to sell a residential-detached property was 26 days,  2 days quicker than last month and 3 days faster than September 2010.

Condominium sales were dominant in the $150,000 to $199,999 price range with 39% of total sales. Only 2% of sales were under $100,000. Average days on market in September was 35 days, 5 days slower than last month and 2 days off the pace set in September 2010.

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.

Great opportunity to buy this property in South Glen Park. A slew of upgrades including PVC triple pane windows with UV coating 2 years old, new fridge, washer and dryer, eaves trough 2 years old, new high efficient furnace, new hot water tank, new wall to wall carpet. This home also has central air-conditioning, 100 amp service, 3 bedrooms, front porch & shed. Yard is fully fenced in. Looking to move into the South Glen park then call now.

AUGUST HOME BUYERS BITTEN BY SALES BUG

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AND WE DON’T MEAN MOSQITOES!

Mosquitoes have become an endangered species in Winnipeg this year … but a new bug has appeared – the Winnipeg real estate sales bug! Sales in August are on par with the best August ever in the real estate Association’s 108 year history.

In August of 2005 there were 1293 sales – and this August we registered 1290 MLS® sales.

But the dollar volume isn’t even close – in 2005 the 1293 sales amounted to $169 million in dollar volume – this year’s 1290 sales registered $297 million – so virtually the same number of sales - but a staggering 76% increase in dollar volume in 6 years.

With concern about the world economy; a potential 3^rd stimulus package south of the border and rampant fluctuations in the stock market and personal retirement investments, the Winnipeg real estate market continues to be the steadiest economic engine on the tracks.

“At the start of the year we looked at all the economic indicators – many of which were pretty negative, or at least tough to interpret because of all the government participation in the economy. But we still couldn’t see any reason for our local real estate market to suffer any correction.” said Ralph Fyfe, President of the WinnipegREALTORS® Association.

“We predicted at our January forecast breakfast that Multiple Listing Service® (MLS®) home sales would rise by up to 2%, home prices would go up 7-9% and dollar volume through the MLS® would increase 9-11%.

“But looking at the numbers to the end of August … we may have been too conservative in our estimates. Maybe the negativity around us at the time made us too cautious. Both our August numbers and year-to-date numbers have exceeded our predictions.” he went on to say.

In August, sales were up 27% from August of 2010 (1290 vs. 1016); dollar volume was up 35% ($296 million vs. $220 million); and the 1784 listings added to the MLS® in the month surpassed last August’s listings by 13% (1578 in 2010).

And the record August numbers only added to the year-to-date positive statistics. From January to the end of August, listings through the MLS® are up almost 3% (13,551 vs. 13,203); sales are up 6% (9196 vs. 8663) and dollar volume is up 11% at $2.14 billion ($1.9 billion in 2010 year-to-date).

“So with sales up 6%, home prices up 8% and dollar volume up 11% - our projections are definitely on track. I can’t help but believe that all the optimism evident in major projects like the new airport; CentrePort; the museum; the new football stadium; the return of the Jets … and all the other exciting developments in our City and Province have provided consumers with a confidence that is playing out in the real estate market.” Fyfe concluded.

The most active price ranges for residential detached sales continue to be 200,000 – 250,000 (20% of August sales) and $150,000-$200,000 (19%) respectively. Average days-on-market for single-detached homes was 28 days – down from 30 days in August of 2010. 10% of August sales were over $500,000 while 7% were under $100,000. 

The most active price ranges for condominiums were $150,000 - $200,000 (35% of sales) followed by $100,000 - $150,000 (26%). Condos averaged 30 days on the market – down from 34 days last August. 

From the national perspective, Gregory Klump, economist with The Canadian Real Estate Association reports that, “Interest rates will remain lower for longer, and the prevailing economic forecast calls for further modest growth, so the housing market will remain an oasis of stability compared to further financial market volatility.” 

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.

August 8, 2011

For Immediate Release

A ROCK SOLID PERFORMANCE IN JULY

                                                -           -           -

MLS® Sales Up 4%; MLS® Dollar Volume Jumps 10%

WINNIPEG -   Spectacular weather in July which kept ice cream and beer vendors busy did not deter sellers and buyers from remaining engaged in the market after an exceptional June of over 1,500 MLS® sales. While not as active given Winnipeggers’ penchant for taking advantage of a plethora of summer festivals and frequent trips to Manitoba’s diverse cottage country, sales of close to 1,250 were on par with the third best July on record in 2007.  July 2008 is by far the best July ever at over 1,400 sales with the 10-year average for July sitting at 1,200 sales. New listings were ahead of last July too with over 1,700 added in July 2011.

To no ones surprise, given a strong sales performance for this month and higher average sale prices in each successive year, dollar volume once again set a new record for month of July. It still however fell short of the $300 million monthly mark that was substantially eclipsed each of the two previous months. The average selling price in July for a residential-detached home was $254,486 – up nearly 7% compared to the July 2010 average of $238,441.

July MLS® unit sales increased 4% (1,246/1,195) while dollar volume went up 10% ($288.1 million/$261.3 million) in comparison to the same month last year. Year-to-date MLS® sales are up 3% (7,906/7,647) while dollar volume is ahead by just under 8% ($1.84 billion/$1.71 billion) in comparison to the same period last year. The 7% increase in new listings this month over the same month last year translated into an overall 1% increase in year-to-date listings from 2010. As of the end of July, 11, 767 listings have been entered on the MLS® system this year.

“An improvement in new listings in July helped keep prices in check as the monthly average home price of over $254,000 is still under the year-to-date average of $256,000 and there were less above list priced sales too so buyers had a little more breathing room,” said Ralph Fyfe, president of Winnipeg REALTORS®. “However, inventory still remains tight overall, especially in a number of Winnipeg neighbourhoods. So depending on the price range and neighbourhood you are interested in, multiple offers may well be in play. As a result, your best recourse regardless of potential competition for a home you want to buy is to call a REALTOR® to advise you accordingly on your own situation.”

What is really starting to emerge this year and was no more apparent than in July is what was referred in WinnipegREALTORS® 2011 January forecast speech as a ‘flight to affordability’.

“The Winnipeg Jets may be taking off too but in the real estate market the alternative flight path and clearly more affordable offerings of condominiums and single-attached homes in contrast to residential or single-family –detached is as real as a Goog at the BDI,” said Fyfe.

In July, condominium sales were up 23% while single-attached residential properties rose an astounding 76%. Year-to-date numbers are impressive as well. The former are outpacing last year’s sales at this time by 10% while the latter or single-attached are up 16%. Residential-detached property sales have increased less than 3% for the year and just over 1% for July.

The spread between the year-to-date residential-detached average sale price of $256,000 and the average sale price of condominiums and single –attached is $54,000 and $63,000 respectively. Not only are these two alternative property types more affordable, the highest land transfer tax in the country at 2% over $200,000 does not apply at all or very minimally if you were to pay the average price. For every $50,000 in value above $200,000, the provincial government collects $1,000 from the home buyer before they can take title to their new property.

For buyers of residential-detached homes in the southwest and southeast quadrants of Winnipeg where the average sale price this year is above $300,000, this means they are paying at least $2,000 more in land transfer taxes as a result of the 2% land transfer tax rate.

WinnipegREALTORS® is calling on Manitobans at 2muchltt.com to tell the provincial government they need to reduce the unfair burden of the Manitoba land transfer tax on property buyers. Based on what you would have paid for an average priced home in 1987 when this tax was introduced and what you would pay now if you buy an average priced home, land transfer taxes have gone up tenfold.

As has been stated before, the impact of the land transfer tax is more acute with first-time buyers where every after tax dollar they save is critical to going towards the required down payment and closing costs (includes the Manitoba land transfer tax).

For residential-detached sales in July, the most active price range was from $200,000 to $249,999 at 24% of total sales. Second busiest was from $250,000 to $299,999 at 19%. For condominium sales, the most active price range was from $150,000 to $199,999 at 42% with the $100,000 to $149,999 range well back at 22%.

Average days-on-market for residential-detached sales in July was 26 days, 3 days slower than June and 2 days faster than July 2010. For condominiums, the average days-on-market was 27 days, 5 days off the pace set in June and 4 days quicker than July 2010.

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.

View this recently sold House or see all my home sales

Showings start July 20, offers July 26. Location, Location, Location. What an awesome opportunity to purchase this St Vital home. . Located on a quiet street literally close to everything from shopping to public transportation to parks and restaurants. This 850 square foot, 2 bedroom home has many upgrades over the years. Hot water tank, toilet, tub surround June 2011, Maintenance free vinyl siding, soffits, eaves and facia last 5 years, most windows last 10 years, shingles 2009. The eat-in kitchen is huge and really lives more like a kitchen and dining room. Both bedrooms and bathroom are generous in size and both bedrooms have big double closets. There is easy to clean laminate flooring through out and shows very well. There is a big back yard with patio area and the yard is fully fenced in. You'll be hard pressed to find a home in this price range that shows this well in this area.

PRESS RELEASE

July 7, 2011

For Immediate Release

ANOTHER GOOD YEAR SHAPING UP FOR WinnipegREALTORS®

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June MLS® Sales Over 1,500

WINNIPEG – WinnipegREALTORS® is at the half way mark of 2011. Its MLS® market activity is tracking well as forecast.  Sales are only down 4% from sales recorded in 2007 – the best year ever - and just 2% off the second best year in 2008. June sales activity of 1,516 is not far off peak sales recorded for this month, only just edged out by 2007 and 2008 when sales were 1,564 and 1,562 respectively. They are also the fifth highest total for any month with May 2007 at the top with 1,652 sales. Another indicator of how well June sales activity went this year is the fact the equivalent of 4 out of 5 new listings sold and nearly half of the entire MLS® inventory turned over.

Also noteworthy for June is it is WinnipegREALTORS® first month when dollar volume for residential-detached sales eclipsed $300 million and a new MLS® dollar volume record was set at $368 million. The average residential-detached sales price in June of $258,275 was up 3% over the same month last year while the average condominium price of $201,642 increased 7% over June 2010. Year-to-date average prices for these two MLS® property types are close to the monthly levels with condominiums almost identical at $201,764 and residential-detached at $256,195.

Speaking of average residential-detached sale prices, when you look at the different quadrants of the city and outside Winnipeg for the first six months of 2011, the rural MLS® areas which represent almost one out of four sales had a moderating influence on the overall average price increase of 5%. Why? Rural prices have only risen 1% where the north-west quadrant of the city is up 5% and the others are all over 6% with the north-central quadrant highest at 8%. 

June MLS® unit sales increased 6% (1,516/1,432) while dollar volume rose 12% ($367.9 million/$329.2 million) in comparison to the same month last year. Year-to-date MLS® sales are up 3% (6,660/6,452) while dollar volume has increased 7% ($1.56 billion/ $1.45 billion) in comparison to the same period last year. Similar to year-to-date results last month, the over 10,000 MLS® listings entered on the MLS® thus far remain in a virtual deadlock with 2010.

“A real solid June performance helped propel our first half of 2011 market activity slightly ahead of forecast range for sales increases and did more than expected to keep a lid on price appreciation,” said Ralph Fyfe, president of WinnipegREALTORS®. “When you drill down further into different MLS® areas, property types, listing activity and price movement, you clearly see much more divergence in results.  This should not be surprising given all real estate markets are local in their make-up and have different factors at play in shaping all that transpires.”

Here is just one example of how one MLS® area stood out from the rest in June. River Heights had 17 new listings yet completed 24 sales leaving two listings remaining for sale in July. While there were some other MLS® neighbourhoods where sales overtook the number of new listings, it is not a typical occurrence and not to the extent that happened in River Heights.

Fyfe added, “Buyers and sellers need to be talking to REALTORS® - the experts on the local real estate market – to gain the information and keen insights they possess on what best fits the unique needs of their own situation. It will then give them the confidence and ability to make an informed decision.”

A quick review of MLS® property type activity year-to-date shows residential-detached sales are up 3%, condominiums ahead by 8% and vacant land a whopping 28%.

For residential-detached sales in June, 60% of total sales were from $150,000 to $299,999 with the $200,000 to $249,999 price range leading the way at 24%. The $0 to $99,999 price range only represented 3% of all sales.  The average days-on-market was 23 days, one day slower than last month and the same pace as June 2010.

Condominium sales activity in June saw 79% of sales from $100,000 to $249,999 with 42% coming in the $150,000 to $199,999 price range. The average days-on-market for condominiums was 22 days, six days faster than last month and 11 days quicker than June 2010.

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.

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