Winnipeg - Despite
The weak sales results to a large degree reflect a real shortage of residential-detached listings in a number of the sought after
More credence to the lack of listings yet strong demand was the fact 35% of homes this January sold for above list price. This was over twice the percentage recorded in January 2009. The average residential-detached sales price was up 17 % from January 2009 and rose 2% over the best December ever in 2009 where the average sale price was $219,000. The average days on market to sell a residential-detached listing in January was 10 days faster than the same month last year.
January
“While a somewhat disappointing sales result given how strong a finishing month
The latest employment numbers released in February show an improvement in employment across the country (Manitoba’s unemployment rate edged down from 5.8 to 5.4 per cent) and Bank of Canada Governor Mark Carney gave no hint in Winnipeg while speaking at a Chamber event this week that he was about to raise the bank rate anytime soon so Canadians can continue to take advantage of the most favourable mortgage financing terms in years.
“It is important to understand how the affordability of housing through lower interest rates can help the entire housing market,” stated
The most active residential-detached price ranges in January 2010 were the $150-$199,999 and the $200,000 to $249,999 ranges with 21 and 20% respectively of total sales. While less active than the aforementioned price ranges, the $250,000 to $299,999 price range had the lowest average days to sell on market at 24 days. Speaking of days on market, the average residential-detached days on market for January 2010 was 32 days, 3 days faster than last month and 10 days quicker than January 2009.
The average days on market for condominium sales in January 2010 was 47 days, over three weeks slower than the previous month and ten days off the pace set in January 2009.
Established in 1903, WinnipegREALTORS® is a professional association representing over 1,500 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® (
- WinnipegREALTORS®