Here is the Winnipeg sales report for March 2011, prepared by WinnipegREALTORS®:
Not to take away from former Winnipegger Neil Young’s artist of the year and humanitarian awards at the Junos last month or local REALTORS® rocking the night away March 16th to raise thousands of dollars for the Manitoba Real Estate Association Shelter Foundation, the local real estate market marched to its own steady beat with a recording better than ever before for this month of the year. It also is apparent the first quarter was outstanding as it edged out the best first quarter ever in 2007 with over 2,500 in
March
In the southwest and southeast quadrants of the city where the average residential-detached sale price were both over $300,000, a good number of the
With 48% of residential-detached listings going for above list price, and 65% of all homes selling for over $200,000 (42 % over $250,000), the average home sale price was pushed up to $255,000, a big jump from the previous month and March 2010.
March
“The change in the mortgage amortization period from 35 to 30 years in March may have spurred on more activity than we initially had predicted and with mortgage rates starting to inch up a bit lately those buyers are looking even smarter now for getting a head start on the spring market,” said Ralph Fyfe, president of
“It is becoming an all too familiar pattern over the past number of years where we find ourselves with not enough inventory going into our busiest time of year,” said Fyfe. “That being said, it obviously points to a wonderful opportunity to list your home and take advantage of present market conditions. Of course, not all homes or
Beyond the most dominant residential-detached
For residential-detached sales in March, the most active price range was the $200,000 to $249,999 at 23% of total sales. A close second was the next lower price bracket from $150,000 to $199,999 at 21%. The average days on market for the most active price range was only 14 days. The average days on market for all residential-detached sales was 24 days, two days quicker than last month and March 2010.
The most active price range for condominium sales was from $150,000 to $199,999 at 36% of total sales. The second most active by a wide margin over any other price range was the $200,000 to $249,999 at 25%. Average days on market for condo sales in March was 35 days, 11 days slower than last month and March 2010. The higher days on market for condominiums was more a reflection of older inventory being sold off than slow sales as March sales activity was excellent.
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® (