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News and Updates

Page 9 of 11

MAY MLS® SALES ECLIPSE 1,600

Reused by permission of the Real Estate News

PRESS RELEASE

June 6, 2016

For Immediate Release

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Highest Ever Monthly MLS® Dollar Volume Total of $460 Million

WINNIPEG – May 2016 showed stellar results with MLS® sales surpassing 1,600 for only the third time in WinnipegREALTORS® 113-year history. MLS® dollar volume followed suit with a new all-time monthly record of $460 million.

2016 is picking up where 2015 left off with a full recovery in condominium sales from early last year and residential-detached sales continuing to shine and show gains over the previous year.  Beyond the two main property types, sales increases are also occurring in most others such as duplexes, vacant land, commercial, mobile homes, single-attached and town houses.

“Buyers are taking notice and advantage of one of the most affordable markets in the country,” said Stewart Elston, president of WinnipegREALTORS®.  “They also have the benefit of choosing from a wide array and abundance of good listings.”

Only May 2007 has higher monthly sales than the 1,629 sales transacted in May 2016.  Both May 2016 sales and dollar volume were up 12% over May 2015. New listings were robust too, just shy of 3,000 coming on to the market in May. Despite all these new listings, the inventory of 5,291 listings at the end of May is down 8% from last year.

Year-to-date MLS® sales of 5,446 are up 9% from the same period last year and ahead of previous years, albeit by a very small margin in comparison to 2012. Year-to-date dollar volume of $1.5 billion is up 10% from the first 5 months in 2015. Listings entered on the MLS® in 2016 are virtually the same as last year’s at just over 11,000.

“Given the second quarter, our busiest quarter of the year, is performing so well, it does set us up to usher in another steady and impressive year of MLS® sales activity,” said Elston. “We may even look at adjusting our annual forecast projection at the end of June based on year-to-date numbers.”

Sometimes it is interesting to note where your gains are in sales over the previous year when you look at the price range breakdown. May 2016 saw quite a significant increase in residential-detached sales at the lower end of the spectrum from $125,000 to $149,999 but also experienced a sizable jump in sales activity from $475,000 to $599,999.   As for condominiums, an upward shift is occurring with the $200,000 to $249,999 price range showing a 33% increase in unit sales over May 2015.

You only have to go back to May 2013 when the $150,000 to $199,999 price range for condominiums was so much more dominant than other price ranges at 40% of all sales. May 2016 shows the $200,000 to $249,999 price range coming within a few sales of equaling this price range.

The most active price range for residential-detached sales in May 2016 was from $250,000 to $299,999 at 21% of total sales. Deadlocked in second place were the $200,000 to $249,999 and the $300,000 to $349,999 price ranges at 15% each. The highest sale price was $1,650,000 with the lowest at $37,000.  The average number of days to sell a home in May was 23, 2 days quicker than May 2015.

The most active price range for condominiums in May 2016 was $150,000 to $199,999 (at 24%). Close behind was the $200,000 to $249,999 price range at 22% of all condo sales. The highest condominium sale price was $460,950. The lowest sale price was $84,500. The average days on market for condo sales in May was 47, 6 days slower than May 2015.

Established in 1903, WinnipegREALTORS® is a professional association representing just under 1,900 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 further information, contact Peter Squire at (204) 786-8854.

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Open Houses June 5, 2016

The weather forecast for Sunday looks great and so do these homes! Don’t miss the Open Houses!

127 Garfield Street S., Winnipeg, MB

22 Verlie Road, Sanford, MB

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May Long Weekend Open Houses!

22 Verlie Road, Sanford, MB    Sunday, May 22 from 1:00-4:00 PM

127 Garfield Street South, Winnipeg, MB       Sunday, May 22 from 1:00-3:00 PM

Virtual Tour

Chateau Lorette 1223 Dawson Road, Lorette, MB       Sunday, May 22 from 2:00-4:00 PM

http://mitchellenns.com/claras-listings/chateau-lorette/

 

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APRIL SALES BETTER THAN THE REST

Reused by permission of the Real Estate News

PRESS RELEASE

May 6, 2016

For Immediate Release

APRIL SALES BETTER THAN THE REST

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April MLS® Sales Up 8%

WINNIPEG – April MLS® sales showed continued strength and momentum from an excellent first quarter of MLS® sales and dollar volume activity.

April sales surpassed both last April’s total and the April 10-year average by 8%. The 1,373 sales transacted through WinnipegREALTORS®’ MLS® are the highest sales total on record for the month of April.

Year-to-date sales are also up 8% at over 3,800. This current pace is only outflanked by 2012 while year-to-date dollar volume of over $1 billion has risen nearly 10% over the same period in 2015.

Active listing inventory has come off its peak level of over 5,000 in 2015. It now sits at 4,708 in 2016. New listings coming on the market in April were down 10% from the same month last year. The absorption rate for all MLS® listings going into May if you assume there are no new listings entered on MLS® is down to three and one-half months.

“While there were no major spring storms to deal with, I believe our MLS® market had the perfect storm when it came to what transpired in April,” said WinnipegREALTORS® president Stewart Elston.   “We enjoyed a healthy influx of buyers taking advantage of a very competitive market with such favourable interest rates. At the same time we witnessed a reduction in the number of listings coming on the market. This resulted in more balanced market conditions in which sellers are feeling more hopeful with supply starting to level off.”

Adding fuel to Elston’s delight with an excellent start to the second quarter was Winnipeg receiving top billing in the Globe and Mail’s Report on Business recently. It talks about Winnipeg “powering the engine of one of Canada’s most stable, resilient provincial economies.” The report also indicates Manitoba “is projected to have the third-highest rate of economic growth this year – 2.2 per cent according to RBC Economics Research …and to enjoy the lowest unemployment rate in the country, 5.4 per cent, well below the Canadian norm of 7 per cent”.

Some MLS® areas would have welcomed more listings, as sales were brisk, but from an overall market perspective supply needs to come back more in line with existing demand. Of course, not all areas, nor property types, share the same outcomes month to month, so you need to be talking to a REALTOR® about how your particular needs and preferences fit within the existing market.

Speaking of property types, the stand out in April and one which has been noted this year already is condominium. There has been a strong resurgence of condominium sales in comparison to an underachieving performance in early 2015. Condominium sales increased 34% over April 2015 and are up 21% year-to-date in comparison to the same period last year.

“The comeback in condominium sales activity this year is encouraging since there is a significant inventory of new and resale condominiums on the market presently,” said Elston. “Buyers are waking up to this fact and availing themselves to some attractive offerings.”

While we will look more closely at the various quadrants of Winnipeg and rural municipalities of the WinnipegREALTORS® market region after six months of residential-detached sales activity it is worth noting for the first time the southwest quadrant had an average residential-detached sales price of over $400,000. Two of their 194 sales were in excess of $1 million. It is indicative of good move up activity as the spring market starts to get in full gear.

The most active price range for residential-detached sales in April was from $250,000 to $299,999 at 21% of total sales. Closely matched in second place were the $300,000 to $349,999 and the $200,000 to $249,999 price ranges at 15 and 14% respectively. The highest sales price was $1,250,000 with the lowest being only $9,500.The average number of days to sell a home in April was 26 days, 2 days quicker than April 2015.

The most active price range for condominiums in April was $150,000 to $199,999 at 34%. The next busiest price range was from $200,000 to $249,999 at 20%. The highest condominium sales price was $770,000. The lowest sales price was $56,000. The average number of days to sell a condo was 41 days, 8 days ahead of the pace set in April 2015.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,885 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 further information, contact Peter Squire at (204) 786-8854.

April Wins Race RD Sales Pie Chart April 2016

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First Quarter MLS® Sales Up 8%

Reused by permission of the Real Estate News

PRESS RELEASERD Sales Pie Chart March 2016

April 7, 2016

For Immediate Release

OFF TO A GOOD START IN 2016

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First Quarter MLS® Sales Up 8%

WINNIPEG –   WinnipegREALTORS® MLS® market got off to a good start in 2016 with the first three months showing an 8% increase in sales over the same period a year ago. Helping make this result possible was a stellar March 2016 performance in which sales went up 5% over last March. There were 1,058 sales in March and 2,445 in the first quarter.

Owing to a new listings drop of nearly 9% in combination with strong sales, the active inventory at the end of March experienced a slight decrease from 2015. This is the exact opposite of what has been happening the last few years as the number of active listings has been spiking upward significantly. The overall MLS® market as a result is in balanced market conditions with 4 months of inventory.

When you breakdown the two main property types of residential-detached and condominiums a clear difference emerges. Based on March sales activity, the 2,259 residential-detached listings existing at the end of March would last 3 months if no other listings were to come onto the market while the 813 condo listings would be closer to 5 months.

“It is really important for buyers and sellers in any local market to understand one size does not fit all,” said Stewart Elston, president of WinnipegREALTORS®.

“You can have varying degrees of competitive market forces (e.g. supply and demand) at play between and within the many MLS® property types. In evaluating your property’s salability, some questions need to be asked. What price range does the property fall in? What city neighbourhood or rural municipality is it located? What attributes does it have in comparison to similar sized properties? Are they well maintained and upgraded if necessary?

“This is why we always strongly advise and even insist you consult a REALTOR® – a real estate expert – to give you the proper advice and counsel on how the current market applies to your own particular situation.”

Another good example of markets performing differently within the region it encompasses is with regard to residential-detached property inventory.  After three months of sales activity the results show neighbourhoods such as St. Boniface, Norwood, River Heights, East Fort Garry and Richmond West have either sold out or nearly sold all of the listings which have come onto the market this year. Close behind with some very high conversions of listings to sales are Crestview, Fort Rouge, Richmond West, Fort Richmond and Linden Woods.

With the entire market region averaging 51% of residential-detached listings being sold by the end of March the rest tend to be all over the map. This means many neighbourhoods still have a higher percentage of conversions of listings to sales but lots of them including rural municipalities fall under the market region average.

“Just like Vancouver is not the same as Calgary or Toronto, neither do our local neighbourhoods behave the same way,” said Elston.

There are two market developments worth noting as we head into the busiest quarter of our real estate market.

Condominium sales have rebounded from a poor first quarter last year. The 328 sales recorded so far are up 15% over the same period in 2015 and 8% over the 10-year average. March condo sales of 167 increased 25% over March 2015 and 20% over the 10-year monthly average.

The other one is the 19% increase in residential-detached sales over $300,000 this first quarter compared to the same period in 2015. As a result, the year-to-date average residential-detached sales price is $300,844, a 6% increase in comparison to first quarter 2015.

The most active price range for residential-detached sales in March was from $250,000 to $299,999 with 22% of total sales. Deadlocked in second place at 15% each were the $200,000 to $249,999 and the $300,000 to $349,999 price ranges. The $400,000 to $449,999 price range equaled the more active $200,000 to $249,999 price range for having the lowest number of days to sell on the market at only 21 days or 3 weeks.  The average number of days on market to sell a home in March was 31 days, 3 days slower than March 2015.

The most active price range for condominiums in March was from $150,000 to $199,999 at 34%. Second most active was from $200,000 to $249,999 at 20%. Another 14% sold from $100,000 to $149,999. The average days on market to sell a condominium in March was 46 days, 1 day slower than March 2015.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,875 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 further information, contact Peter Squire at (204) 786-8854.

condo infographic March 2016

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Sales Eclipse 800 for First Time in February!

Reused by permission of the Real Estate News

PRESS RELEASEFebruary Record Year 2016

March 8, 2016

For Immediate Release

SALES ECLIPSE 800 FOR FIRST TIME IN FEBRUARY

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February Leaps Ahead of the Rest

 WINNIPEG – Whether an extra day in February paved the way for a record month is debatable as the best previous high for this month was 797 in 2007 and there were only 28 days to reach that level.  What it does show however, is more buyers came out of the woodwork to take advantage of some of the best supply of affordable house prices in the country.

Another February milestone was set this year too with dollar volume easily surpassing $200 million for the first time.  New listings coming on to the market were up in double-digits as well however the stronger conversion of listings to sales kept the overall inventory close to where it was a year ago. Based on the strong sales activity in February and a high influx of new listings there is roughly four and one-half month’s supply of MLS® listings available going into March. It was near six months at the end of January.

In percentage terms, February MLS® sales of 816 increased 21% compared to February 2015. February MLS® dollar volume of $222 million was up 29% over the same month last year.  New listings coming onto the market in February vaulted ahead by 14% leaving  an inventory of over 3,700 MLS® listings at the end of February, only 2% more than last year at this time.

Given February’s impressive result, year-to-date sales and dollar volume are up 10 and 14% respectively. Listings entered on the MLS® for the first two months have increased nearly 6%.

“Our record-setting February is an indication of the Winnipeg market’s steadfast performance in contrast to some of the adversity we are seeing in other markets across the country,” said Stewart Elston, WinnipegREALTORS® president.  “The Conference Board of Canada is predicting Winnipeg’s economy will outperform most other major Canadian cities this year.”

One noticeable trend which has emerged in the last few years is rural sales are gaining at the expense of the City of Winnipeg.  One out of every four MLS® home sales in 2015 were in the outlying rural municipalities. February 2016 was no exception as 28% of all home sales happened outside the City of Winnipeg.

“In light of the current City of Winnipeg budget deliberations where Winnipeggers are seeing not only property tax increases but a proposed 25% increase in their frontage levy, talk of well beyond inflation jumps in quarterly water and sewer rates and a significant increase in combined building permit fees, it should not be lost on our civic politicians that outlying rural municipalities are an option for buyers seeking lower operating costs of owning a home,” said Elston.

As mentioned in the 2016 forecast for Winnipeg’s MLS® market the very balanced market conditions will continue to keep a lid on pricing and this was borne out in February. Both the residential-detached and condominium average sale prices were very close to the 2015 year-end numbers. Residential-detached was almost identical at a little over $294,000 while February average condominium sales price was just below the $236,000 recorded for 2015.

The most active price ranges in MLS® residential-detached sales in February were between $250,000 to $299,999 and $200,000 to $249,999 with 22 and 15% respectively of total sales.  The most active price range also had the lowest average days on market of 30 days. The average number of days on market to sell a home in February was 37 compared to 34 in 2015.

The most active price range in condominiums was between $150,000 and $199,999 at 28% of total sales.  The second busiest price range with 20% of sales was between $200,000 to $249,999. The average days on market was 48 days, the same time it took in February 2015.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 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 further information, contact Peter Squire at (204) 786-8854

RD Sales Pie Chart February 2016

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Fact Friday! What is a Realtor®?

Realtor

If you’re considering selling or buying property, make sure you know your options.

Working with a listing and/or buyer agent can help tremendously, but do you really know what a Realtor® is and how they can help?

One of the biggest misconceptions about Realtors® is that they do little work and get paid a lot of money. This is because people don’t understand how Realtos® get paid. A Realtor® doesn’t get paid until the end of a sales transaction which can be up to 60 days after a sale finalizes. Realtors® don’t charge by the hour or send an invoice. They earn a commission based on the sale price of the property. If a Realtor® works with a seller or buyer and there is no transaction, the Realtor® isn’t paid for their time. Commission rates are negotiable between the listing agent and seller client. In many cases, this commission is evenly split between the listing agent and buyer’s agent. Listing agents spend time and money marketing a home, advertising and preparing a home for sale, so they’re being paid for those services. Buyers’ agents spent their time showing their clients homes, previewing potential homes for their clients, and reviewing the current market to see what listings fit their clients’ needs. After all of this work, if the buyer client doesn’t buy a property, the buyer agent isn’t paid for their time.

Whether you’re a buyer or a seller, the professional support of a Reator® who represents your interests should be worth every dollar of the commission.


Why a Realtor?

Why a REALTOR®?

Maybe you’re buying a home for the first time. Or maybe you’re selling your old home to move to something new. Whether buying or selling, you’re involved in an intricate process requiring many specialists. One of these specialists might be a REALTOR®, who’s responsible for making the transaction as easy as possible for you.

The REALTOR® Difference

However, not every licensed or registered broker or salesperson is a REALTOR®. To be a REALTOR®, the agent must be a member of The Canadian Real Estate Association (CREA). And to be a member of CREA, an agent is expected to be:

  • Committed to the REALTOR® Code: The code is the accepted standard of conduct for all real estate practitioners who are REALTORS®. It’s your guarantee of professional conduct and the quality service. Read more about the REALTOR® Code.
  • Knowledgeable about developments in real estate: A REALTOR® can get you the information needed to make an informed decision: comparable prices, neighborhood trends, housing market conditions and more.
  • Actively updating education: Through courses, workshops and other professional development, a REALTOR® maintains a high level of current knowledge about real estate.
  • Access:  REALTORS® have access to Board MLS® Systems, which facilitate the cooperate sale of properties to benefit consumers.

Benefits of a REALTOR®

Whether buying or selling a home, you can trust that your REALTOR® will ensure the transaction is completed competently and professionally. You don’t have to worry about the details – your REALTOR® can take care of them for you. You can get advice from someone with an intimate knowledge of the local housing market. And you can count on the help of a professional who has committed to serve with integrity and competence.


How Realtors Help


 

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