Balmy summer weather in September created summer-like market activity which led to a third consecutive month of over 1200
Call it what you will, a jet -fueled market with our new
Another undeniable factor pointed out by the Canadian Real Estate Association’s chief economist Gregory Klump is due to global economic instability and uncertainty and the increasing volatility in the stock market, interest rates are being kept lower for longer so real estate becomes an attractive alternative investment. Moreover, as CREA president Gary Morse stated in commenting on the August
September
“We did not miss a beat in September as the market continued to pick up right where it left off in August,” said Ralph Fyfe, president of WinnipegREALTORS®. “New listings increased over last September and buyers responded given there were more to choose from.”
Fyfe added, “While some of the provincial election signage may have overshadowed our REALTOR® signs this past month, you can expect to see lots of our member signs out and about in October given the continuing strength of our local real estate market.”
Vacant lots and condominiums continue to be the best performing
For residential-detached sales in September, the most active price range by far was the $200,000 to $249,999 with 26% of total sales. The under $100,000 market continues to erode with only 4% of the market and the longest days to sell of 41 days. The average days on market to sell a residential-detached property was 26 days, 2 days quicker than last month and 3 days faster than September 2010.
Condominium sales were dominant in the $150,000 to $199,999 price range with 39% of total sales. Only 2% of sales were under $100,000. Average days on market in September was 35 days, 5 days slower than last month and 2 days off the pace set in September 2010.
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® (