June MLS® sales ranked third highest on record for the month and were only eclipsed by three per cent 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, which is only one per cent off the 10-year average.
Just shy of $416 million, June MLS® dollar volume resulted in the second highest MLS® monthly total ever. Only last month was higher with $438 million worth of listings sold on MLS®.
New listings entered in June on MLS® continue an upward trend in 2014 with a 22 per cent increase over June 2013. It leaves year-to-date listings placed on MLS® up 13 per cent to 12,052 listings. There were 1,000 more MLS® listings available going into July than was the case last year.
For the first six months of the year, condominium listings increased 33 per cent over 2013. A number of new projects are helping add to the jump in listings this year. More listings have translated into an 11 per cent rise in condominium sales.
Residential-detached listings were up to a lesser extent. They rose 12 per cent while sales were ahead by two per cent.
Listings 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 the RMs in the capital region.
June MLS® unit sales increased by two per cent (1,515/1,480), while MLS® dollar volume went up by six per cent ($415.7 million/$392.4 million) in comparison to the same month last year. Year-to-date MLS® sales were up less than one per cent (6,476/6,431), while MLS® dollar volume increased less than five per cent ($1.76 billion/$1.68 billion) in comparison to the same period last year.
“It’s one of our better second quarter MLS® results after a slow start to 2014,” said David Powell, president of WinnipegREALTORS®. “Besides sales activity, June was especially impressive in the spike in new listings coming on the market.
“This development bodes well for continued strong MLS® sales activity in July and the third quarter. To just keep pace with 2013, we will need to perform at a high level.”
At the halfway mark of the year, other MLS® property types are mixed in their results. Single-family-attached properties picked up steam this year with a 16 per cent rise in activity over 2013. They offer greater affordability than single-family homes or condominiums. Multi-family properties are also doing well with a 17 per cent jump in sales.
On the other hand, vacant lots are well off last year’s sales, decreasing by 32 per cent decrease and duplexes were down 27 per cent.
With so many resale properties now available, it is safe to assume that more buyers are less inclined to buy a lot and build their own home if they can find an existing home that meets their requirements.
The most active residential-detached price range for sales was between $250,000 to $299,999 with 25 per cent of total sales. Closest to it were the two price ranges immediately below and above at 18 per cent and 14 per cent, respectively. If you add in the 12 per cent of sales from $350,000 to $399,999 and another 11 per cent from $150,000 to $199,999, you capture 80 per cent of total residential-detached sales.
The highest sale price was $1,495,000 and the lowest price being only $35,000 (almost entirely exempt from the provincial land transfer tax).
The busiest condominium price range continues to be from $150,000 to $199,999 at 32 per cent. However, there is a tilt upward with the next two highest price ranges representing 36 per cent of sales activity — evenly split at 18 per cent each. The highest condominium sale price was $715,000.
The average days on market for residential-detached properties was 25, the same pace as last month and three days slower than June 2013. Average days on market for condominiums was 41, 11 days off pace set last month and the same result as June 2013.