Winnipeg Real Estate Board president Ruthe Penner is predicting that MLS® dollar volume sales will set a new record by the end of the year and total MLS® sales could break an 18-year-old record.
The previous dollar volume record of $1.34 billion had been set last year.
“If December unfolds as it should, we should pass $1.6 billion in sales through the Multiple Listing Service®,” said Penner.
“Last year was a record year with nine straight $100-million months in a row,” she added. “This year is no different with $100-million months from March through November, inclusive. But, now we’re ahead of last year’s dollar volume record.”
In November, MLS® dollar volume sales topped the $100-million mark, reaching $11 million, an eight per cent increase over the same month in 2004, according to figures released by the WREB.
Last year, November ended with $103 million in dollar volume sales.
Year-to-date dollar volume stood at $1.55 billion by the end of November, which was 20 per cent higher than last year’s $1.28 billion during the same period.
Meanwhile, MLS® unit sales increased by one from November last year to 830 units. But, year-to-date MLS® sales are up five per cent to 11,528 units. By the end of November in 2004, sales had reached 10,953 units. Total MLS® sales are on track to break the 1987 record of 11,903 units by the end of the year, Penner added.
“It certainly has been a roller-coaster year,” said Penner. “The chart has been lower left to upper right all year long.”
November residential-detached sales were most active between $100,000 and $159,999, accounting for 41 per cent of all MLS® sales.
Only 31 per cent of all November sales were under $100,000, which in previous years had usually represented the majority of sales.
The highest priced home to sell last month was for $725,000 and the lowest sale price was $12,500.