Back
MLS® has entered “uncharted territory:” months of homes sales over $100 million
Dec 10, 2004

Winnipeg Real Estate Board president Cliff King said the Multiple Listing Service® has entered “uncharted territory this year” because of exceptional home sales activity.

“There have been nine months  in a row of $100-million-plus sales activity — many of the months, like November, have shattered previous highs,” he said.

“Besides some of the big increases in house prices in highly sought after homes in many neighbourhoods, these record dollar volume months have also come about as a result of excellent sales — the best in 17 years.”

King said dollar volume was pushed upward in November by the sale through MLS® of three homes in the $500,000 to $1 million range. The highest sale was a home in Tuxedo for $950,000.

In addition, there were 21 MLS® residential-detached sales over $300,000 which also helped to boost the dollar volume total. Another 11 homes sold for between $250,000 and $299,999.

The lowest MLS® sale in November was $10,900.

November MLS® sales were up 28 per cent to 829 units when compared to November 2003. And, dollar volume was up 46 per cent to $103 million.

Year-to-date, MLS® sales were up seven per cent from the same period in 2003 to 10,953 units, while dollar volume climbed 18 per cent to nearly $1.3 billion.

New listings increased by 34 per cent in November over the same month last year, which King said is evidence of the return to a more balanced market in the coming months.

Year-to-date, listings were up nine per cent.

Residential-detached sales in November were most active in the $100,000 to $129,999 price range with 19 per cent of total sales. Next was the $70,000 to $99,999 range, which accounted for 18 per cent of sales.

The average period on the market for November was 27 days, one day off last month’s pace and the same as November 2003.