Here is the latest Sales data news release from WinnipegRealtors®:
December was a month to remember with
A real driving factor behind the higher average sales price in December is the large influx of new immigrants in combination with historically low rental vacancy rates (currently at .8%). As a result, resale housing and converted condos become the most viable option to meet the shelter needs in the
Another December number worth highlighting is the dollar volume of over $150 million. It shattered the previous highest December dollar volume mark set in 2009 by 22%. Prior to 2009, no December dollar volume exceeded $100 million. Helping December 2010 along was another million dollar house sale in
Not to be outdone, December
December
“The numbers do speak for themselves this month as homes were clearly part of consumer’s year end big ticket purchases,” said
“2010 will go down as a year with continued price pressure thus driving up dollar volume,” said
He added, “In 2010, more affordable property types such as condominium townhouses and apartments were sought after as there was an increase in condo sales activity and fewer residential-detached sales.”
There was an actual 13% drop in residential-detached sales activity from 2009 to 2010 in houses selling under $250,000. Another sharp contrast between the two years is the fact residential-detached sales under $200,000 in 2010 represented 39% of total sales whereas in 2009 the percentage was 50%. In comparison, condominium sales under $200,000 captured 59% of total condo sales.
Whether it is choices of various
The most active residential-detached price range in December was the $200,000 to $249,999 price range with 20% of total sales activity. This was the case for the year with this price range leading the way with 23% of total sales activity.
The average days on market for residential-detached sales in December was 33 days, 1 day off last month and 2 days quicker than December 2009. The year finished off with an average days on market of 27 days, two days quicker than 2009.
Condominium sales in December were most dominant in the $150,000 to $199,999 price range with 35% of all sales while the $200,000 to $249,999 price range was not far behind at 31%. For the year, the most active price range by far was from $150,000 to $199,999 with a market share of 33%. Trailing a distant second was the $100,000 to $149,999 with 22% of total sales.
The average days on market for condominium sales in December was 26 days, over a week faster than last month and one day slower than December 2009. For 2010, average days on market for condo sales was 30 days, a 3 day quicker turnaround than 2009.
More detail on the year that was will be elaborated on at
Established in 1903, WinnipegREALTORS® is a professional association representing over 1,600 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market. Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (