Hazen Steeves

WINNIPEG –

In many respects, this April has to be considered the best April in WinnipegREALTORS® 109-year history as it was only 9 unit sales off the highest April MLS® unit sales recorded in 2008 but is way out in front in dollar volume from any previous April. A rebound was predicted from last April given Manitobans were contending with the flood situation and therefore the spring market did not get on track as it normally does at this time of year.

If this was a Winnipeg Jets hockey game we would be going into overtime as February MLS® sales were identical to last year’s. We will have to wait until February 2013 to break the tie. On the other hand, dollar volume was a different story altogether with the clear edge going to February 2012 with dollar volume up 12% at $191 million. As a result, the average residential-detached sales price was notably higher at $266,000 in comparison to $240,000 in February 2011. Condominium average sales price also vaulted past February 2011 with a jump from $198,000 to close to $211,000 in February 2012. Another virtual tie came in new MLS® listings with 1,315 entered in February 2012 compared to 1,313 in February 2011.

With the exception of 1997 when January sales were at 660, January 2012 sales activity ranks among the best results for all other Januarys as none have even threatened the 600 sales level. Dollar volume is another story altogether as despite sales being in a virtual deadlock with last January, there was still nearly an additional $8 million worth of sales activity. As a result, we see a replay of previous years where even if sales are not up to the previous year level, the dollar volume sets a new monthly record.

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.

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.

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.

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.

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.

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.

WINNIPEG – Not only did May 2011 record the highest dollar volume month ever in WinnipegREALTORS® 108-year history to eclipse the $350 million level, sales and new listings outperformed May 2010 and showed a marked improvement over a disappointing April 2011. The May MLS® market rebound in sales and listings from April is proof flood-related concerns dampened activity. This factor alone held back what normally is a brisker spring start to WinnipegREALTORS®’ busiest months.

WINNIPEG - It is no coincidence the 2011 flood in Manitoba affected WinnipegREALTORS® MLS® market as listings were down 15% from April 2010 and much closer to 2009 where we had some major flood issues to deal with like this year. MLS® sales are virtually identical to 2009 and conversions of listings to sales are off in the same way compared to non-flood springs.

March MLS® sales came close to 1,200 while dollar volume was at $275 million. This result is clearly more spring-like in activity so whatever winter weather prevailed in March it did not stop buyers from completing transactions. In fact, the equivalent of 73% or nearly 3 out of 4 new listings were sold in March and 46% of the active MLS® inventory was depleted.

Despite the unseasonably cold February, 1,313 sellers put their houses on the WinnipegREALTORS® Multiple Listing Service® in the month (up 12% from last February) … and 781 sellers sold their properties through the MLS® (up 10% from February 2010).

2011 GETS OFF TO A GOOD START

WINNIPEG - December was a month to remember with WinnipegREALTORS® recording its highest average monthly home sales price ever at $252,414. The previous high was June 2010 at $250,440. This record is not typical of a December. Historically, the highest monthly average sales price tends to be in the busier spring months. The month of the year is becoming far less significant as a determining factor of average monthly sales price and not surprisingly the prevailing tight housing market conditions is the primary cause.

WINNIPEG - November 2009 may have had better weather and 8 more MLS® sales than this November, but dollar volume once again in 2010 displayed its unrelenting march to greater heights. It increased nearly 10% over the previous highest November dollar volume in 2009. As a result, WinnipegREALTORS® has achieved its highest annual MLS® dollar volume on record at $2.58 billion, and there is still a month to go. This eclipses the previous best annual dollar volume record set in 2009 of $2.47 billion.

WINNIPEG – If this was an election it would be too close to call. On the final stretch drive with two months to go it is a dead heat in terms of MLS® sales compared to last year. There are only 28 more MLS® sales in 2010. However dollar volume is a different story. It is up 10% in comparison to 2009 and while sale do drop off at year end there should be no doubt WinnipegREALTORS® will set its 10th consecutive annual MLS® dollar volume record in 2010. 2001 finished with a dollar volume level just shy of the $1 billion mark. Ten years later the final amount could possibly reach $2.7 billion.

WINNIPEG - It took until the month of September last year to set a new sales and dollar volume MLS® record in comparison to the same month the year previous. Ditto for 2010. Like athletes vying for new records in the Olympics or Commonwealth Games, September 2010 sets the bar higher again for what September 2011 will have to achieve if there is to be a new MLS® sales record for this month. It was noted summer was a little slower than usual this year so it certainly appears cottagers and vacationers entered the fall market in larger numbers than 2009.

WINNIPEG – Despite a drop in sales activity this summer in comparison to July and August last year, year-to-date sales are slightly above 2009 while dollar volume is up nearly 11% and closing in on $2 billion – the fastest pace at which this milestone level will be reached in WinnipegREALTORS® 107-year history

With the weather way better than last July … and maybe people thinking more about some sun, sand and surf rather than listing and selling – the numbers don’t look all that bad. And looking at year-to-date … there are still positives in this more balanced – healthier market

WINNIPEG - While no panacea for some homebuyers depending on the neighbourhood and price ranges they are searching for, the good news in May is WinnipegREALTORS®’ MLS® residential-detached listing inventory is in better shape going into June than it has been in a long time. Moreover, a good influx of new listings in early June bodes well for a healthier supply in the summer months. The same holds true for condominiums.

WINNIPEG – WinnipegREALTORS® reported over 1,300 sales through the MLS®, only the second time in April when sales have reached this level. It was less than 3% off the 1,355 sales achieved in 2008. New listings of over 2,000 are the highest they have been for this month since 1998 and dollar volume eclipsed $300 million for the first time in April.

WINNIPEG - Signs of spring are all around you. Real estate signs that is, as the Winnipeg real estate market got a head start on spring with listings, sales, and dollar volume all warming up to busier market conditions in March.

WINNIPEG – Besides resulting once again in another month where dollar volume sets a new record for the month as it was up 9% over the previous best dollar volume February in 2008, a significant development this month is a clear shift in overall residential-detached sales activity to price ranges over $200,000.

WINNIPEG – Despite MLS® sales being down less than 500 for the first time in 6 years, dollar volume continues to forge ahead as it crashed through the $100 million mark for the first time in the month of January. Helping bring this level up to a record total in January was a home sale worth $1,080,000. Last year WinnipegREALTORS® saw more million dollar plus sales than ever before at 14 (previous best was 2008 with 8 sales).

WINNIPEG – Winnipeg’s MLS® market shook off early year recession concerns and another major flood to post a much better second half and end the year with a strong result. 2009 MLS® sales of 12,182 only take a back seat to the 2007 record-setting year of over 13,000 sales and to 2008 and 2006 where sales were 12,630 and 12,304 respectively.

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.

WINNIPEG – A recurring theme this year as evident in October has been the consistent dollar volume strength of the Winnipeg resale 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.

WINNIPEG – 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 the Winnipeg real estate market has returned to its former glory with healthy market activity.

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.

WINNIPEG - July 2009 not only set a new dollar month record for this month but even edged out May 2009. This happens very rarely. Although it is worth mentioning the last time it happened was in 1997 when the flood of the century impacted May sales so the 2009 flood likely had some impact as well.

WINNIPEG – Sales in May 2009 were more restrained than the last few years but that does not mean the MLS® market performed badly. It just indicates the market has come back down to earth and is more balanced compared to the heady run Winnipeg enjoyed over more recently in May.

WINNIPEG - WinnipegREALTORS® has been there before and will likely go through it again. As was the case in 1997, the MLS® market dipped noticeably from the same month the year before when there was no major flood to encounter and preoccupy yourself with as a resident of Winnipeg or outlying rural municipalities in the floodplain.

WINNIPEG – The Winnipeg real estate market in March was really quite similar to March 2008 when you break down the two main property type sales. Home sales which still make up the lions share of total MLS® activity every month were only down 3 per cent with more sales this year over $200,000.

WINNIPEG - The Winnipeg real estate market in February saw its activity fall back in comparison to the most recent bullish period of real estate where activity really started to ramp up in the latter part of 2003.

WINNIPEG – The Winnipeg real estate market got off to a good start in 2009 with another monthly dollar volume record.