It’s shaping up to be another good year for MLS® sales, according to WinnipegREALTORS®.
The first half of 2011 saw MLS® sales — all property types — increase by three per cent to 6,660 units sold, while dollar volume increased by seven per cent to $1.56 billion, when compared to the same six-month period in 2010.
“A real solid June performance helped propel our first half of 2011 market activity slightly ahead of the forecast range for sales increases,” said WinnipegREALTORS® president Ralph Fyfe.
June MLS® sales increased by six per cent over the same month last year to 1,516 units, while dollar volume rose 12 per cent to $367.9 million, a new monthly record.
June was the first month in the history of WinnipegREALTORS® that dollar volume for just residential-detached home sales topped $300 million.
WinnipegREALTORS® reported the average residential-detached price increased by three per cent in June to $258,275 when compared to June last year, while the average condominium price rose by seven per cent to $201,642.
Fyfe said the rural areas covered by WinnipegREALTORS®, which account for nearly one of four home sales, have had a moderating effect on the overall average price increase, as a result of an average price increase outside the city of just one per cent.
On the other hand, average prices in the north-west quadrant of Winnipeg were up five per cent. Other city quadrants experienced average price increases over six per cent. The north-central quadrant of Winnipeg had the highest price increase at eight per cent.
“When you consider different MLS® areas, property types, listing activity and price movement, you clearly see more divergence in results,” said Fyfe. “This should not be surprising given that all real estate markets are local in their make-up and have different factors at play in shaping results.”
Fyfe said another indication of the strength of the market is that the equivalent of four out of five new listings for June sold and 63 per cent of the accumulated MLS® inventory was turned over.
River Heights was the most active area for sales from overall MLS® listings. In the neighbourhood, there were 17 new listings in June, but 24 sales, leaving just two listings available for sale this month.
“While there were some other MLS® neighbourhoods where sales overtook the number of new listings,” added Fyfe, “it’s not a typical occurrence and never to the extent of what happened last month in River Heights.”
Sixty per cent of residential-detached sales in June were in the $150,000 to $299,999 price range, while the most active price range for condos was between $100,000 to $249,999, which accounted for 79 per cent of all sales.
One home in June sold for $1.45 million, while the highest-priced condo sale was $649,900.