1600 Winnipeg home sales in May 2012 make it second best month in history for Winnipeg real estate market
by Brenden Morgan, Sutton Group
(204) 955-0500 24 hrs
There were over 1,600 sales in the Winnipeg real estate market in May 2012 – making it the second best May ever next to May 2007. 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.
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. When you compare May 2012 to May 2011, MLS® unit sales in Winnipeg increased 10% while dollar volume went up 17%. Year-to-date sales for Winnipeg real estate in 2012 are ahead of 2011 by 5% while dollar volume has risen 12% in the first five months.
Not surprisingly given the strength of the Winnipeg real estate market in May, there were more homes that sold for above list price than below list price.
The most active price range for May residential-detached sales in Winnipeg was $250,000 to $299,999 with 24% of total sales activity. Dropping back in market share but still second was the $200,000 to $249,999 price range at 17%. Two-thirds of all sales of Winnipeg homes are from $150,000 to $300,000.
In the Winnipeg condominium market, 30% of 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 homes in Winnipeg in May was 24 days, two days quicker than last month and two days off the pace set in May 2011. Days on the market for Winnipeg condominium sales in May was 28 days, nine days faster than last month and the same rate as May 2011.
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