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Amazing market continues to impress: record-breaking homes sales on MLS®
Sep 10, 2004

August was another record-setting month for MLS® sales, according to figures released this week by the Winnipeg Real Estate Board.

“The market never ceases to amaze me,” said WREB president Cliff King.

August MLS® sales were up 28 per cent with 1,118 units sold, while dollar volume was up 41 per cent to $129.5 million when compared to the same month last year.

Year-to-date MLS® sales beat last year’s total during the same period by eight per cent with 8,193 units sold, while dollar volume was up 17 per cent to $952 million.

The WREB is predicting that by the end of this month, the $1-billion mark in volume sales will be reached.

“It is quite remarkable that the board, as a result of record-breaking months such as August, will be recording an MLS® sale sometime in September that will bring the year-to-date dollar volume over $1 billion,” said King.

In the last few years of continual record-setting sales, the $1-billion mark had invariably been reached by the end of the year, not with three months remaining in the year, King added.

“As we look ahead to the fall, it is encouraging to have another solid increase in new listings last month to help satisfy the brisk market demand that is fuelling higher MLS® sale prices.”

King said the turnaround in housing availability is a good trend for home buyers. 

New MLS® listings increased by 30 per cent in August. And, over one in every two active MLS® listings sold last month.

He also predicted that, while there are still bidding wars on some properties, the number of multiple offers on MLS® listings will slowly decrease as the year progresses.

But, he said, there is no sign of a let up in the pace of future overall sales in the next few months, and even into next year, unless something significant happens in the marketplace to reverse the present record-setting sales trend (also see article page 10).

Residential-detached MLS® sales were most active in the $100,000 to $129,999 price range which accounted for 21 per cent of August’s sales. This was followed by the $70,000 to $99,999 price range which had 19 per cent of the total sales.

An MLS® property on average was on the market for 25 days last month which is four days off the previous month’s pace, but three days quicker than August 2003.