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A DEAD HEAT! CAN YOU FEEL IT?
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June MLS? Sales of 1,480 Just Shy of Last Year?s Pace
WINNIPEG ? A solid MLS? sales performance in June finished off a strong second
quarter result and brought year-to-date sales much closer to the downside risk of minus
4% factored into the annual 2013 MLS? market forecast.
No major road blocks in the way to conclude a month ranked in the second tier of Junes
that edged up to the 1,500 sales level but could not go further as was the case in 2007,
2008 and 2011. Nevertheless, 2013 June sales are only off the best June ever by 5%.
June dollar volume set a new June monthly record of $392 million and it helped bring
year-to-date dollar volume within less than 2% of last year?s dollar volume total.
New MLS? listings rose 9% over June last year leaving an inventory going into July of
close to 4,000 units for sale. You have to go back to the 90s to find this much MLS?
listing supply.
?June MLS? unit sales were virtually even (1,480/1,487) while dollar volume was up
6% ($392.4 million/$369.4 million) in comparison to the same month last year. Year-todate MLS? unit sales are down 7% (6,431/6,921) while dollar volume has dropped off
less than 2% ( $1.68 billion/$1.71 billion) in comparison to the same period last year.
?If a cooler, later spring tempered the multi-year escalating Winnipeg market, our recent
weather has reheated sales to equal the June 2012 statistic? said Richard Dettman,
president of WinnipegREALTORS?. ?2012 was one of the best years on record and
repeating this mark is no mean feat.
?Looking ahead, if we can convert or turn at least 35% of our active listings to sales,
which is a reasonable expectation give past market performance, then third quarter sales
will be off to a very good start. Realistic pricing is an important element in attaining a
high listing to sale conversion rate; it is really is a matter of our 1600 Realtors?
educating both buyers and sellers as to the current market.?
An interesting observation to make after the first half of 2013 is just how well
condominium sales are doing. While off to a slow start at the beginning of the year like
other MLS? property types, condominium sales are now up 10 % over last year and are
enjoying a better conversion of listings to sales than residential-detached properties.
Listings have increased 18%. June condominium sales were not only up 11% but they
clearly showed an upward swing in price range movement with 55% of all sales selling
above $200,000 where last June it was only 38%.
The most active residential-detached price range in June was the $250,000 to $299,999
one at 23% of total sales. The $200,000 to $249,999 price range was next busiest at 18%.
Condominium sales activity happened most frequently in the $150,000 to $199,999 price
range at 31% of total sales. Another 19% of condominium sales fell within the $200,000
to $249,999 price range.
The average days on market for residential-detached sales was 22 days, the same pace as
last month and 2 days quicker than June 2012. Not surprisingly, the most active price
range of $250,000 to $299,999 had the lowest days on market of only 16 days. Average
days on market for condominium sales was 36 days, 5 days ahead of last month and 9
days behind June 2012.
Established in 1903, WinnipegREALTORS? is a professional association representing
over 1,800 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 786-8854
Source: http://www.randyleopold.com/winnipeg-realtors-press-release-july-4th-2013/
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