Here is the January 2012 sales report prepared by Winnipeg Realtors®
There were 5 sales over a Million Dollars in May 2012 and
Talk about making a statement for May 2012 when you have five sales over a million dollar each propel the monthly
A fabulous month indeed and it demonstrates buyers are as active as ever in taking advantage of exceptionally low mortgage rates and one of the most affordable major real estate markets in the country. Some months you are fortunate to get one million dollar plus sale so to have five in one month is atypical and indicative of strength in the luxury end of
There have now been two consecutive months where residential-detached sales in the over $500,000 price range have significantly outnumbered the under $99,999 price range. This was not the case in 2011.
May
A 50% turnover in inventory left active listings at the end of May down from the same time last year by 3%. Not surprisingly given the strength of the
“You only have to go back 10 years when we considered $100 million monthly
Despite the success of this month, it is really important to stress that all property types and specific property types within a local real estate market do not perform or act the same. Two good examples substantiate this point. Condominium sales were more in line with last May sales, while resort properties were actually down from the same month last year. In sharp contrast duplex and single-attached were dramatically higher in sales activity and residential-detached and vacant land showed decent increases. When examining residential-detached sales, a number of the desirable City of Winnipeg
“Our monthly
For residential-detached sales in May, the most active price range was from $250,000 to $299,999 with 24% of total sales activity. Dropping back in market share but still second is the $200,000 to $249,999 price range at 17%. Two-thirds of all sales are from $150,000 to $300,000.
30% of condominium sales fell in the $150,000 to $199,999 price range but the next laddered range of $200,000 to $249,999 is growing in market share with 21% of total sales.
Average days on market for residential-detached sales was 24 days, two days quicker than last month and two days off the pace set in May 2011. Days on market for condominium sales was 28 days, 9 days faster than last month and the same rate as May 2011.