June MLS Sales Eclipse 1,500

Since 2007 when for the first time June sales surpassed 1,500, this level has become the new benchmark upon which June is judged.  At 1,509 MLS unit sales in June, over 1,500 sales have occurred three times after 2007 including last year when there were 1,515 sales.  There is only a 55 unit sales difference or over 3% higher sales activity in the record-setting June 2008. 

Not much difference on a year to date basis either.  Year to date sales are running less than 1% ahead of last year with 6,502 sales.  This total is only off 7% from 2007, which at the halfway mark and year end holds the highest unit sales level in Winnipeg Realtors 112 year history.

This reinforces why Winnipeg's real estate market may lack the excitement of other housing markets because it's so steady and stable in generating similar results every year.

"In all honesty, our Winnipeg market can be quite boring due to how remarkably close the month end numbers are in comparison to the same month the year before," said Winnipeg Realtors president David MacKenzie.  "I will take that result any day over the uneven swings which occur in some other major Canadian markets."

A byproduct of this stability is more affordable house prices.  In RBC's most recent housing affordability report, which has been compiled since 1985 and captures Manitoba's proportion of pre-tax household income needed to service the costs of owning a home at market values, condos fared better with bungalows and two storey homes going up marginally.  In conclusion, RBC says "affordability measures remain remarkably close to long term averages."  Sound familiar?

Speaking of average house prices, they are very much in line with last year at the halfway mark of 2015.  There is no breakout like this for condo sales; however, the year to date average sale price of $241,029 is up over 1% from the same period in 2014.

As indicated in the 2015 annual MLS forecast, a plentiful listing supply will ensure well balanced market conditions prevail and therefore keep a lid on increasing house and condo prices.  13,728 listings have been entered on the MLS this year, an increase of 14% over 2014. Based on brisk sales activity in June, there is an inventory of approximately four months going into July.

Reflecting how prices are being kept in check is the similar dollar volume this June compared to last June.  Dollar volume eked out an ever so slight edge over 2014 (less than 1%) with a record-setting $416 million for this month and one of the highest monthly totals on record.  Year to date dollar volume of nearly $1.8 billion is up less than 2%over the same period in 2014. It is the highest level on record for the first six months.

Owing to a healthy supply of MLS listings and historicallty low mortgage rates, buyers are continuing to capitalize on choice and rates or choice rates if the property they have long sought after is available for sale.  Demand is holding up well too with one of the lowest unemployment rates in the country at 5.6% and continued population growth fuelled by strong immigration.  Manitoba's real GDP is expected to grow 2.3% in 2015, making it the third best among provinces and above the national average of 1.8%.

"Given the outstanding selection of listings available throughout the city and entire capital region, it behooves buyers to see for themselves and call their Realtor for their expert advice," said MacKenzie. "Realtors know the market and can give you quick access to new MLS listings.  Your chances of finding what you want have never been better -- resale or new prooperties."

MLS property-type breakdown shows condo sales in June were only down 6% in comparison to last June.  This is a vast improvement over some earlier months, such as February and April when they were well off last year's sales activity.

"We surveyed our real estate brokers recently and the majority of them felt the introduction of the new Condo Act on February 1st had some impact on sales," said MacKenzie.  "Everyone involved in the condo sales process is adjusting to the new requirements of the Act so our expectations are to see sales numbers perform better in the second half of 2015.  Let's not forget either an increased supply of affordable residential-detached homes competes directly with condos."

Year to date sales show residential-detached units up 5% while condos have decreased 15%.

The most active price range in June for residential-detached sales was $250,000-$299,999, followed by the $200,000-$249,999 range and the $300,000-$349,999 range.  Another 22% of sales were split evenly in the $150,000-$199,999 and the $350,000-$399,999 ranges.

Average days on market was 29 days, 4 days slower than June 2014.  The highest priced residential-detached sale was $1,165,000 and the least expensive sale was $32,000.

The most active price range for condos was $150,000-$199,999 followed by the $200,000 to $249,999 range and the $250,000-$299,999 range.  Days on market for condos was 49 days, compared to 41 days last year with the highest priced condo selling for $655,000 and the lowest priced sale at $57,000.

Year-to-Date Sales Match 2014

While still a large influx of new listings came onto the market in May, it was the first decrease over the same month the previous year in over two years. Just this year alone monthly increases have been significant (eg. 33% spike in March over March 2014).

One month does not make a trend.  However, due to less inventory going into June and higher sales activity occurring in the spring market, the MLS inventory has a supply of four months. Altus Group, a leading national housing consulting firm which tracks local markets every month, states five months inventory of resale product is considered to be a normal market.

"Overall our local market is balanced and offers plenty of choice for discerning buyers to find their preferred property," said Winnipeg Realtors president David MacKenzie.  "Sellers on the other hand need to be realistic in their pricing as there is lots of competition from other similar properties."

After five months of MLS activity, one in five single family home sales are achieving above list price results.  Condos are more like one in ten with another 15% selling at list price.

Year-to-date MLS sales of 4,993 are slightly ahead of last year, while 1,455 sales recorded in May were 7% off the pace set in May 2014.  MLS inventory remains healthy at 5,751 listings, while new listings coming on the market of 2,726 were down 1% over last May.

Residential-detached property sales this year are up 7% despite suffering a 5% setback in May.  Condo sales are off 20% from 2014 but experienced 10% or half the annual percentage decrease in May.  In terms of total MLS market share, residential-detached sales represent 76% while condos are 12%.

May dollar volume of $410 million is one of only five months in Winnipeg Realtors 112 year history to eclipse $400 million.  It decreased 6.5% from May 2014. Year-to-date dollar volume of $1.37 billion is up 2% over last year and is the highest on record for the first five months.

President David MacKenzie said we should be pleased with another solid year so far.  "The numbers speak for themselves and it is not trite to say ideal conditions exist within our local market to take advantage of such favourable low mortgage rates.  Your Realtor can help you find what property best suits your needs."

The most active price range in May for residential-detached sales was $250,000 to $299,999 (23% of sales), followed by the $200,000 to $249,999 (16%) and the $300,000 to $350,000 (15%).

Average days on market was 25, the same as May 2014.  The highest priced residential-detached sale was $1,405,000 and the least expensive sale was $35,000.

The most active price range for condos was $150,000 to $199,999 (31% of sales) followed by the $200,000 to $249,999 and the $250,000 to $299,999 price ranges (both at 18%).  Days on market for condos was 41, compared to 30 last year.  The highest priced condo went for $950,000 and the lowest priced sale was $60,000.

Year-to-Date Statistics Positive Across the Board

The real estate market is either very, very good....or really, really suspect...depending on which headlines you choose to read.

It's difficult to decide what's really happening from the sound bites, but the numbers on the resale market for the first four months of the year paint a fairly rosy picture.  Statistics for the first third of the year are up from comparable numbers last year, and last year recorded the fourth best resale numbers in the past 20 years and the best dollar volume ever through the MLS.

"Our numbers continue to support our Forecast Breakfast predictions."  said President David MacKenzie. "In January we predicted that sales would be up .2% year over year and home prices would increase by the same amount.  And the January through April activity bears that out and then some."

The April MLS listing inventory, the number of properties available for sale in Winnipeg, rose almost 36%.  So buyers had more properties to choose from than last April, which indicates more balance in the marketplace.

Listings entered into the MLS system were also up 23% over last April with the addition of 2,837 properties this year.

Sales followed suit.  The number of sales processed in the month was up close to 4% from last April, with 1,273 sales recorded.  And dollar volume was up 8.8% at $352.3 million.

The April numbers helped maintain positive year to date market stats.  8,336 listings have been entered on the MLS system since January 1st, up 25% from last year,and 3,538 sales have been recorded, up 4% from the same period in 2014.

The January through April dollar volume is up 6.5% at $962.4 million.

President David MacKenzie was positive about the market activity in the first 4 months, "We often say that real estate is local with national averages and trends meaning very little.  Our market is OUR market.  And even within our own market, activity is local.  What's trending in Island Lakes will not necessarily be mirrored in the North End. I know of some MLS areas where offers are few and far  between while in other pockets of the City, multiple offers are still happening."

He went on to say that in April, 22% of residential-detached homes sold for more than list price, 8.5% sold at list, while 69% sold below list.

For condos, almost 11% sold above list...18% sold at list...and 71% sold below list.

The most active price range in April for residential-detached homes was $250,000 - $299,999 followed by the $200,000 - $249,999 range.

Average days on the market was 27, compared to 26 last April.  The highest priced residential-detached sale fetched $1,590,000 and the least expensive was $8,000.

The most active price range for condos was $150,000 - $199,999 followed closely by the $200,000 - $249,999 range.  Days on market for condos was 49, compared to 38 last year, with the highest priced condo going for $630,000 and the lowest priced sale at $72,500.

More spring-like weather this March compared to the previous few years helped spur more sales activity.  MLS sales climbed over 1,000 and ended up being just 2% off the ten year March average of 1,025.  First quarter sales activity showed a similar pattern, also off 2% from the ten year average of 2,318 MLS sales.

MLS dollar volume of $276 million was up 11% over March of last year and up 9% over the ten year average.

New and available listings continue to be impressive when compared to last March.  New listings entered on the MLS in March increased 33% while the active listings or existing inventory were up 29% to 4,338 MLS listings.  Whatever is being sold is more than being replenished by the entry of new listings on the system.

You have to go back to 1999 to find as many listings available for sale at this time of year and back to 1995 when there were more new listings entered on MLS in March.  For the first quarter, 5,499 listings have been entered on MLS, an increase of 37% over the ten year average.

March MLS unit sales were up 9% while dollar volume increased 11% in comparison to the same month last year.  Year to date MLS sales increased less than 5% while dollar volume was up just over 5%.  The 5,499 listings entered on MLS for the first quarter are up 26% from the same period in 2014.

"Conditions are ideal for buyers to take advantage of a healthy supply of listings and historically low mortgage rates," said David MacKenzie, President of Winnipeg Realtors.  "Our mortgage brokers are telling us we have likely not seen rates as low as we have now since the 50's or 60's."

MacKenzie added, "The much more balanced market has kept prices totally in line with last year so affordability remains a real strength of our local market compared to other Canadian cities."

The most active residential-detached price range in March was the $250,000 to $299,999 price range at 19%.  It eked out a slight edge over the $200,000 to $249,999 range which represented 18% of total sales.  Three out of four residential-detached sales in March were between $150,000 and $350,000.

For condo sales activity in March, the busiest price range was from $150,000 to $199,999 at 28%.  Not far behind was the range from $200,000 to $249,999 at 25%.

The average days on market for residential-detached sales was 28 days, six days quicker than last month and the same pace as March 2014.  The average days on market for condo sales was 45 days, three days faster than last month and 13 days off the pace set in March 2014.

Year-to-date MLS Statistics Up Slightly

There will be an excess of white noise from all media outlets across the country about real estate market activity in the first two months of the year.  We will be bombarded by new highs and lows from Toronto and Calgary and Vancouver...but the real story should adress what's happening in Winnipeg.  If we want to know the weather, we don't listen to the Toronto radio and TV feeds -- we listen to our local experts.  The same should be true about our real estate market.

February MLS listing inventory, the number of properties available for sale in Winnipeg, rose 24%.  So buyers had more properties to choose from than last February, which should indicate more balance in the marketplace.

Listings entered into the MLS system were also up 18% over last February, with the addtion of 1,535 properties.

The number of sales processed in the month was just eight shy of last February, with 672 sales recorded (680 in 2014).  And dollar volume was down 2% at $172 million vs $176 million last February.

All in all, a balanced market that is keeping pace with last year and last year was a very decent real estate market in Winnipeg.

The February numbers helped maintain January's quick start. Year-to-date numbers are still providing more choice for buyers while sales and dollar volume almost mirror last year's numbers.  New listings added in the first two months are up 21% at 3,090, sales are up 1% over 2014 and dollar volume is up .6% at $324 million vs $322 million.

President David MacKenzie referred to the activity in the first two months and looked back at the Association's Forecast Breakfast in January.

"We all realize that two months doesn't make a market...or accurately indicate a direction.  But at our Forecast Breakfast early in the year, our experts told us that 2015 looked as if home sales would increase slightly over 2014, home prices should increase the same 0 - 2%.  Condo prices should increase a little more at 2 - 4% while dollar volume should increase slightly -- around 1 - 3%."

"We will, of course, monitor the activity every month, but it looks like January and February have given us a solid platform on which to continue to build our crystal ball projections."

The most active residential-detached range in February was $250,000 to $299,999 at 22% of the market while the usual frontrunner price range of $200,000 to $249,999 fell back to second busiest at 17%.  The average days on market for residential-detached sales was 34 days, one day quicker than February 2014.

For condo sales activity in February, the $150,000 to $199,999 price range was the most dominant again at 33% of total sales with the $250,000 to $299,999 range capturing 23% of sales. The average days on market for condos in February was 48 days, four days slower than February 2014.

January MLS Sales Up 4%

MLS activity in January was very solid with the third highest sales total on record for this month. It also ushered in a new January monthly dollar volume high of over $150 million.  New listings coming on to the market remain robust with a 25% increase over 2014.  This increase is even more significant considering the rise in new listings is at 40% when you compare it to a ten year average. Not surprisingly, active listings or the inventory available for buyers to choose from, is up 25% as well over 2014.

January MLS unit sales were up 4% while dollar volume rose 4% in comparison to the same month last year.

"At our annual forecast breakfast last month we said 2015 would be a more balanced market and January results bear this point out" said Dave MacKenzie, President of Winnipeg Realtors. "The healthy influx and overall supply of listings is keeping prices in check.  It therefore makes it more affordable for buyers wanting to capitalize on such favourable mortgage rates."

MacKenzie added "All real estate markets are local so national commentary about overheated Canadian real estate markets does not apply here.  The law of supply and demand is solidly entrenched in Winnipeg's market."

Single family homes had a particularly strong month with an 11% increase over January, however, the upper end market was quieter than usual.

In January 2014 there were two home sales of one million or more, 4 from $750,000 to $999,999 and 21 from $500,000 to $749,999.  There were no sales this January of $1 million or more, one sale from $750,000 to $999,999 and 15 sales from $500,000 to $999,999.  The next lower price range of $450,000 to $499,999 shows a distinct contrast with January 2015 outselling January 2014 by nine sales or over 50% in comparison.

The single-attached property type, which was flagged last year as one to watch given it offers more affordability than a single family home or condo, had a sales increase of 39% over January 2014.

"With supply levels well above the norm and mortgage rates so conducive to financing a property in light of the recent reduction of the Bank of Canada overnight rate from 1.0 to .75%, prospective buyers should be contacting their Realtor now to find out first-hand what possibilities exist for them to move ahead with a purchase," said MacKenzie.

The most active residential-detached range in January was the $200,000 to $249,999 one at 22%, while the front runner price range of $250,000 to $299,999 fell back to second busiest at 20%.  The average days on market for residential-detached sales was 41 days, two days quicker than January 2015.

For condo sales activity in January, the $150,000 to $199,999 price range was by far the most dominant at 37% of total sales with the next two higher price ranges each capturing 17% of sales.  The average days on market for condos in January was 46 days, one day slower than January 2014.

David MacKenzie succeeds outgoing president David Powell.  MacKenzie becomes 112th president 40 years after his father Gordon was president and will lead over 1,800 members active in the local real estate market.

In only a few other occasions in Winnipeg Realtor 112 year history has a father-son combination presided over the longest running real estate association in the country.

In Gordon MacKenzie's case, he was instrumental in getting Winnipeg Realtors own piece of real estate, its office building located at 1240 Portage Avenue, built in 1975. It has proven to be a terrific legacy and still very much a hive of activity with the boardroom constantly booked for board of director, standing committee and task force meetings.

David MacKenzie started his real estate career in September 1981 and has been involved in organized real estate ever since. Did he have any choice in the matter?  Let him answer that one himself.

"There is no question my father strongly influenced me to get involved in organized real estate once I made the commitment to be a realtor," said MacKenzie.  "As a successful real estate broker/owner in his own right, he was able to impart first-hand to me the importance of getting involved and contributing to the well-being of your profession."

Will one of his two sons follow suit?

"Like my dad, I will let them decide on their own if they want to pursue real estate as a career," said MacKenzie. "I know I have no regrets and look forward to my 34th year in the business."

David MacKenzie, together with Derrick Sigmar, are broker/owers of Sigmar MacKenzie Real Estate Services Ltd. Sigmar MacKenzie offers both real estate and appraisal services.  It was established in 2002 and is located in Old St Vital at 575 St Mary's Rd.  Sigmar's father, Murray Sigmar, also headed up Winnipeg Realtors in 1982.

David MacKenzie has been chair of many standing committees and served as a director of Winnipeg Realtors for at least three different terms. Prior to coming back to join the executive in 2014, MacKenzie was President of the Manitoba Real Estate Association in 2008.  He has also served as a Manitoba regional director on the Canadian Real Estate Association's board of directors.

Currently he chairs the industry's Real Estate Insurance Alliance, which looks after errors and omissions insurance claims made by the public in Manitoba and the Atlantic provinces.

"The public is protected when working with a realtor in case they feel they need to make a claim for an error or omission," said MacKenzie.  "Much of our effort on the Alliance, besides dealing with some claims, is on making sure realtors are keeping up on changes in legislation, regulations and business practices, so claims can be significantly reduced."

As like most of his fellow realtors, MacKenzie volunteers in various capacities and has been active coaching both flag football and hockey in the the St Vital community.

What is on his to do list for members?

"First I will say we have a strong board of directors and a solid support staff, so it is very much a team effort in delivering services our members expect and deserve in order to serve the public well." said MacKenzie. "During my year we will sharpen our tools and make a commitment to enhance what we can deliver wherever possible."

A new Condo Act is coming into effect on February 1st, a new version of our MLS system is out this year with plans to revamp our Commercial Property Information Exchange and Winnipeg Realtors is partnering with the Manitoba Real Estate Association as the presenting sponsor of the 2015 Home Expressions Show at the end of March, so you can appreciate there is lots to get going on as this new year unfolds.

Over 4,000 MLS Properties Available to Purchase

When Santa descends on Winnipeg and surrounding rural municipalities this Christmas he will see plenty of real estate signs.  For vendors they will be wishing for a sold affixed to their sign.  Buyers with more choice to find that perfect home may wish for the same on a house they are successful in securing before year end.

2014 has been an extremely busy listing year with active MLS listings at the end of November, up 20% from 2013 and current MLS listings or new ones coming on the market in November up 6% from last November.  Based on the average number of listings remaining for sale at the end of November over the last 10 years, there are approximately 1,500 more MLS listings available for sale this December.  This larger inventory has created buyers' market conditions. It makes the word "comparable" take on increased meaning when there is this much more selection of properties to choose from in many years.

The potential for more sales is greater but November MLS sales were right around the ten year average of 828 sales.  Supply is still carrying the day (over 22,000 MLS listings entered on the MLS this year) with demand lagging somewhat behind. Not to worry as MLS sales in November were down less than 4% and year to date sales are less than 1% off the same period in 2013.  Year end MLS sales are likely to finish fifth best on record while MLS dollar volume will once again reach a new all time high of close to $3.4 billion.

As for MLS property types, condo sales rebounded in November with an increase over the same month last year of 19% while residential-detached or single family homes was down 5% from November 2013.  Vacant land which has experienced the largest decrease in sales activity of any property type in 2014, actually held its own in November with similar sales.

Only 12% of residential-detached sales in November sold for above list price while 80% sold below list price.  For condos, nearly 14% of units sold went for above list price while 72% sold below list price.

When you examine the different quadrants of Winnipeg and the outlying rural municipalities, rural residential-detached sales led the way with nearly one in four sales and the southwest quadrant of Winnipeg was second with 20% or one in five sales.

To no surprise, condo sales in November and throughout the year are most prevalent in the Osborne Village MLS area. Other MLS areas showing strong sales in November were the downtown, Tuxedo and the large MLS area encompassing Royalwood, Island Lakes, Sage Creek and Southland Park.

This month also resulted in the highest priced condo to sell on MLS.  It was a $1,750,000 condo on Wellington Crescent.  The previous highest was a $1.5 million condo sale in 2009.

November MLS unit sales decreased less than 4% while dollar volume was down less than 1% in comparison to the same month last year.  Year to date MLS sales are down less than 1% while dollar volume is up nearly 3% in comparison to the same period last year.  MLS listings entered on the MLS this year show a gain of close to 12%.

In a bit of a departure from the norm, the most active residential-detached price range in November was from $200,000 to %249,999 at 21% of total sales where the next higher price range of $250,000 to $299,999 fell back to second at 19%.  The average days on market to sell a home in November was 34 days, two days quicker than last month and the same pace as November 2013.

2014 MLS Dollar Volume Surpasses $3 Billion

Winnipeg Realtors experienced its fourth busiest October on record.  It had over 1,100 MLS sales which is 5% higher than the ten year average for October and only 7% off the best October months in 2007 and 2013. Dollar volume decreased slightly more than sales did in October as significant inventory is putting pressure on holding prices down. However, the second highest dollar volume for October was still enough to push year to date dollar volume over $3 billion for the first time with still two months to go.

MLS listings remain an important development in how the market is evolving this year.  New listings entered on the MLS in October were up 7% while the active listings or current inventory heading into November has risen 21% over last year. The three month streak of 5,000 MLS listings going into the next month came to an end though with more than 4,600 MLS listings available at present.

October MLS unit sales decreased 7% while dollar volume dropped 8% in comparison to the same month last year.  Year to date MLS sales are down less than 1% while dollar volume is up 3% in comparison to the same period last year.

"Given all the additional listings we have on the MLS market this year it may appear and feel like we are not doing as well in terms of sales" said David Powell. "This is not the case at all.  We are less than 3% off our best year to this date and have the highest dollar volume on record at over $3 billion.  Buyers are realizing good opportunities exist to take advantage of all the choice and supply of listings in our current market."

One of the impacts of higher inventory the last few months has been on condo sales activity.  Some of the empty nesters wanting to sell their bigger homes and get into a condo have experienced increased difficulty due to more competition from similar empty nester properties being placed on the market.  This has resulted in a decline in condo sales from what would have been expected otherwise.  Of the 114 condo sales in October, only five sold for above list price with 4 out of 5 selling below list price.

The two leading property type sales categories of residential-detached or single family and condos are up 2 and 4% respectively to the end of October.  Vacant land sales are down 31%, so are a drag on MLS total sales.

For residential-detached sales in October, the two price ranges of $250,000 to $299,999 and $200,000 to $249,999 were evenly split at 21% each of total sales.  The $150,000 to $199,999 was next busiest at 13%.  One home sold for $1,625,000 while another went for $35,000. The average days on market to sell a residential-detached property was 36 days, 3 days slower than last month and a week off the pace set in October 2013.

The most active condo price range for sales activity was from $150,000 to $199,999 at 37%.  Well back was the $200,000 to $249,999 price range at 21%.  The highest sale price was $740,000.  The average days on market for condo sales was 40 days, the same as last month and ten days less than October 2013.

September MLS Sales Up 5%

Buyers took advantage of the over 5,000 MLS listings available at the beginning of September.  As a result, sales were less than 3% off the best September recorded in 2011.  The 2,364 new listings entered on MLS during the month of September kept listings at a level not seen since 1997.

Given such a competitive market with supply presently outstripping demand, there were price adjustments happening for a number of MLS listings.  MLS dollar volume was still up 9%. It was the first time dollar volume in September went over $300 million.

September MLS unit sales increased 5% while dollar volume rose 9% in comparison to the same month a year ago.  Year to date MLS sales are up less than 1% while dollar volume has increased 4% in comparison to the same period last year.  MLS listings entered on MLS are up 12% to 18,846.

"Buyers clearly are in the driver's seat at this juncture with the significant rise in listing supply available on our MLS" said David Powell, President of Winnipeg Realtors.  "Though challenging for sellers with more choices for buyers to pick from, sales are remaining strong as on par with one of our best years on record in 2013."

"I believe these buyer market conditions will not last as inventory wil come down to become more balanced in 2015.  Right now is clearly a time buyers should be talking to their Realtor about the changing market and what opportunities they have to consider for all MLS property types."

Speaking of property types, condo sales have slowed down somewhat in the past two months, but remain up 8% for the year. Residential-detached properties are slightly ahead of last year and helping them keep a lead was a 10% increase in September sales over September 2013.

For residential-detached sales in September the most active price range was from $250,000 to $299,999 at 21% of total sales. Close on its heels was the next lower price range of $200,000 to $249,999 at 20%.  Even the $150,000 to $199,999 price range fared quite well in third place at 15%.  The average days on market to sell a residential-detached property was 33 days, 2 days slower than last month and September 2013.

The most active condo price range was from $150,000 to $199,999 at 35% of total sales.  A distant second was the $200,000 to $249,999 price range at 20%and then it falls back to 14% for the $250,000 to $299,999 price range. The average days on market for condo sales was 40 days.  One day quicker than last month and ten days off the pace set in September 2013.

August MLS Sales Off 12%

2014 is going down as the year of more listings.  In August the healthy supply of MLS listings did not translate into more sales.  In fact, MLS sales dropped 12% in comparison to the same month last year.  The 10 year average for August sales activity still shows August 2014 down 5%.

Listings are another story altogether.  Based on the 10 year average for August, active listings or current inventory at the end of August, August 2014 has 59% more listings at 5,108.  As for new MLS listings entered on MLS in the month of August, the 2,106 new listings were up 22% over the 10 year average.

While a disappointing result, year to date sales activity is in a virtual deadlock with last year.  2013 is the fourth best year on record for sales activity.  Dollar volume on the other hand is on pace to set another annual record as is up nearly 4% from last year, which turned in a third consecutive record-breaking dollar volume year of over $3 billion.

August MLS unit sales decreased 12% while dollar volume fell off 8% in comparison to the same month last year.  Year to date MLS unit sales are down every so slightly while dollar volume is up nearly 4% in comparison to the same period in 2013.  Year to date MLS listings entered on MLS stand at 16,482, a 12% increase over 2013.

Condo's, despite a 14% decrease in August sales activity, remain up 9% for the year.  Residential-detached sales, while down 12% in August, are up marginally for the year. The biggest decline in property type sales by far as of the end of August is vacant lots.  Their sales have been cut down by one-third compared to 2013.

Less than one in five residential-detached sales in August went for above list price.  This trend should encourage buyers to check out the market in 2014 as there may be listings they lost out on in more hectic times that they now have a better chance of buying.

Not all MLS neighbourhoods or price ranges behave the same as different market forces are at play.  It is therefore always recommended you contact a Realtor who can give the expert advice you need on your particular housing queries.

Nearly 70% of all residential-detached sales in August were from $150,000 to $349,999, a range of $200,000.  The most active price range was from $250,000 to $299,999 at 23%.  The average days on market to sell a residential-detached home was 31 days, three days slower than last month and August 2013.

60% of all condo sales were from $150,000 to $249,999.  The most active condo price range was from $150,000 to $199,999 at 35%. The average days on market for condo sales was 41 days, a week slower than last month and six days off the pace set in August 2013.

A July High for MLS Sales

Not only were the ice cream vendors hopping in July, realtors were kept busy too with the most active July in our 111 year history. Close to 1,500 sales were transacted with a record breaking July dollar volume of nearly $390 million.  MLS listings kept coming on the market too with more than 2,300 new ones to whet the appetite of eager buyers.  It resulted in building a healthy inventory of over 5,000 MLS listings by month end.

July 2014 compares favourably to a good month in June and was only 2% off June 2014 when it enjoyed the third highest sales for thismonth.  This gives credence to comments made at the end of the second quarter that Winnipeg is in a delayed spring market due to a prolonged winter.

To show just how record breaking this July was in terms of sales, July 2014 is only the second time MLS sales reached over 1,400 sales for this summer month.  It outperformed the ten year average by nearly 200 sales or 15%.

Speaking of 200 sales, condo sales were up 18% over the same month last year at 202 sales. Single attached, which is the strongest MLs property type performer year to date, saw an increase in July of 16% over July 2013. Residential-detached or single family homes as a result of its over 7% rise in sales activity from July 2013 is up 3% for the year.

July MLS unit sales increased 7% while dollar volume went up 10% in comparison to the same month last year. Year to date sales are now up close to 2% while dollar volume has risen 5% in comparison to the same period last year.  55% of the 14,376 listings entered on MLS have been converted to sales this year.

In July 2014 two out of every three residential-detached listings sold for less than list price where it was less than one in two in 2008.  Conversely, for the same number of total sales, there were almost twice as many residential-detached listings that sold above list price in July 2008 compared to this July.

Condo's in July saw even less sales go for above list price but had more sales at list price than residential-detached properties.

One out of every four residential-detached sales in July sold in the $250,000 to $299,999 price range.  Another 30% sold in the two lower price ranges from $150,000 to $249,999.  There was a huge divergence in range of sale prices from a high of $2,000,000 to a low of $17,000.

The most active condo price range for sales was from $150,000 to $199,999 at 28%.  Not far behind is the $200,000 to $249,999 range at 23%. The highest condo sale price was $675,000 and the lowest was only $37,500.

The average days on market to sell a residential-detached property in July was 28 days, three days off the pace set last month and 5 days quicker than July 2013.  For condo sales, the average days on market in July was 34 days, 7 days quicker than last month and one day slower than July 2013.

MLS sales up 2%;  MLS Dollar Volume rises 6%

June 2014 MLS sales rank third highest on record for this month and have nly been eclipsed by 3% in June 2007 and June 2008.  As a result, year to date sales for the first half of 2014 show a slight edge over 2013 at close to 6,500 sales -- only 1% off the ten year average.  Just shy of $416 million, June MLS dollar volume resulted in the second highest MLS monthly total ever. Only last month is higher when $438 million worth of listings was sold on MLS.

New listings entered in June on MLS continue to march along on an upward trend in 2014 with a 22% increase over June 2013.  It leaves year to date listings placed on MLS up 13% to 12,052 listings.  There are 1,000 more MLS listings available going into July than was the case last year at this time.

For the first 6 months condo listings have increased 33% over 2013.  A number ofnew projects are helping add to the jump in listings this year.  More listings have translated into an 11% rist in condo sales.  Residential-detached listings are up to a lesser extent.  They have risen 12% with sales ahead by 2%.  Listings in particular vary according to which MLS neighbourhood you are interested in. So contact a Realtor if you want to know exactly what the current supply situation is in any given area in Winnipeg or RMs in the capital region.

June MLS unit sales increased 2% while MLS dollar volume went up 6% in comparison to the same month last year.  Year to date MLS sales are up less than 1% while MLS dollar volume has increased less than 5% in comparison to the same period last year.

At the halfway mark in the year, other MLS property types are mixed in their results. Single family attached properties have picked up steam this year with a 16% rist in activity over 2013.  They offer more affordability than single family homes or condos.  Multi-family properties are doing well too with a 17% jump in sales.

On the other hand, vacant lots are well off last year's sales with a 32% decrease and duplexes are down 27%.  With so many resale properties now available, it is sale to assume more buyers are less inclined to buy a lot and build their own home if they can find an existing home which meets their requirements.

The most active residential-detached price range for sales was the $250,000 to $299,999 one at 25%.  Closest to it were the two price ranges immediately below and above at 18 and 14% respectively.  If you now add in the 12% of sales from $350,000 to $399,999 and another 11% from $150,000 to $199,999, you capture 80% of total residential-detached sales.  The highest sale price was $1,495,000 and the lowest price was $35,000.

The busiest condo price range continues to be from $150,000 to $199,999 at 32%.  However there is a tilt upward with the next two highest price ranges representing 36% of sales activity --evenly split at 18%. The highest condo sale price $715,000.

The average days on market for residential-detached properties was 25 days, the same pace as last month and 3 days slower than June 2013.  Average days on market for condos ws 41 days, 11 days off pace set lastmonth and the same result as June 2013.

$438 Milion transacted in May 2014

An all time record setting month for MLS dollar volumeand the third highest month for MLS sales brings year to date sales even with last year and dollar volume ahead by 4%.

May is really a make or break one for the year rand if this is a marathon we are right up with the lead runners when it comes to staying with 2013.  Where we are ahead of 2013, however, is in listings.   The over 4,500 active listings by month end are up 22% from last year.  New listings entered on the MLS in May rose 10% over May 2013.  It was not until 2006 that new listings in May consistently eclipsed 2,000 and we have not reached 2,755 in May 2014.

Helping set a new monthly dollar volume record was seeing for the first time the average monthly residential-detached sales price reach and climb over the $300,000 lever to $300,786.  The year to date average residential-detached price is lower at $294,232. May 2014 had three homes sell for over $1 million, including one of the highest on record at $1,820,000.

As much as it should be noted that over one third of all residential-detached MLS properties in May sold for above list price and another 10% sold at list price, a number of listings did not sell as the conversion of all MLS new listings on the market to sales was 57%.  This places Winnipeg Realtors many Winnipeg and rural MLS areas within balanced market territory.

There are always exceptions to the rule.  Some Winnipeg MLS neighbourhoods in particular are still seeing much higher conversions of listings to sales.  The main Charleswood neighbourhood south of Roblin Blvd in May had 18 residential-detached sales compared to 15 new listings.  In a situation like this one, the remaining active listings from the end of the previous month are being sold to enable a higher number of sales than new listings.  Fort Garry and Linden Woods are two other areas with a very high equivalent number of sales to new listings.

Conversely, recreational beach MLS areas, such as both the eastern and western sides of Lake Winnipeg, experienced fewer conversions of listings to sales in May as the former tend to come on strong at the beginning of the cottage season with sales following later.  This year has seen listings being delayed and sales also due to late spring conditions.

Not only are local markets different across the country but they very within a local market too -- urban and rural.  It behooves buyers to contact a Realtor to help them understand what the current market situation is in a city neighbourhood or rural municipality where they may want to live.

May MLS unit sales were up 1% while dollar volume rose 6% in comparison to the same month last year.  Year to date sales are in a virtual deadlock with 2013 while dollar volume is up 4% in comparison to the same period last year.

The most active residential-detached price range was the $250,000 to $299,999 with 26% of total sales.  Well back in second place was the next lower price range of $200,000 to $249,999 at 16%.  Condo sales were most active in the $150,000 to $199,999 price range at 30% of total sales while the $200,000 to $249,999 price range finished respectably at 22%.

The average days on market for residential-detached property sales was 25 days, one day quicker than last month and 3 days off the pace set in May 2013. Average days on market for condo sales was 30 days, 8 days faster than last month and 11 days earlier than May 2013.

MLS Sales Drop Less Than 2%

In what has been anything but a normal year for getting everyone into normal spring market expectations and buying activity to match them, April sales actually held their own.  They fell just shy of last year's total number and are exactly at the 10 year average performance level for this month.

Owing to affordability issues that have been well identified with first time buyers, which in turn has a broader impact on other aspects of the housing market, single family homes continue to underachieve compared to more affordable property types such as condos and single-attached properties.  Given single family homes or residential-detached units make up the majority of sales in the Winnipeg MLS market region, converting less than 50 per cent of your inventory is going to make it difficult to see a stronger overall April MLS sales result.

Year to date results mirror April in that sales are in lockstep with last year's.  However, year to date sales are down 4% from the 10 year average of 3,548 sales.  2007 which remains the best year ever for total MLS sales, also holds the highest sales number for the first four months at 3,740.

April MLS unit sales were down less than 2% while dollar volume was up 2% in comparison to the same month last year.  Year to date MLS sales essentially were even while dollar volume rose 3% in comparison to the same period last year.  The MLS inventory remains healthy with 11% more to choose from at this time than last year.

"May will now be a true test of how our MLS market behaves this year as thisisthemonth where sales usually reach the highestmonthly total of the year and push dollar volume upanother notch," saidDavid Powell, president ofWinnipeg Realtors.  "We are ingreat shape with supply so demand will be the determining factor."

Talking about supply, those would be spring buyers should be contacting the Realtor to find out just what is available on the currentmarket.  Some consumers who have been unsuccessful in the past securing a home they desire, may be pleasantly surprised this year given there are 3,860 active MLS listings available at the end of April.

The most active residential-detached price range was $250,000 to $299,999 with 20% of total sales.  The immediate price ranges above and below this range were next at 17% each.  There were only 5 sales from $750,000 to $1 million with no sales at or above $1 million. The lowest sale price was $42,500.  Condo sales were most active in the $150,000 to $199,999 price range at 29% of total sales.  A strong second place result was the $200,000 to $249,999 price range at 22%.

The average days on market for residential-detached property sales in April was 26 days, 2 days quicker than last month and one day off pace set in April 2013.  Average days on market for condo sales was 38 days, 6 days slower than last month and nine behind the turnover rate in April 2013.