Dollar volume sets February record with 12% increase


While February MLS® sales were identical to last year, dollar volume was a different story altogether with February 2012 up 12% at $191 million.
As a result, the average residential-detached sales price was notably higher at $266,000 in comparison to $240,000 in February 2011. Condominium average sales price also vaulted past February 2011 with a jump from $198,000 to close to $211,000 in February 2012. New MLS® listings ended with 1,315 entered in February 2012 compared to 1,313 in February 2011.
“Knowing how exceptional 2011 was in our 108–year WinnipegREALTORS® history, we certainly have no issue with history repeating itself this year where sales kept pace with 2011 and dollar volume continues to show gains as it has consistently since 2002,” said Shirley Przybyl, president of WinnipegREALTORS®. “So far, our 2012 forecast is on track. Without trying to get too ahead of ourselves with ten months to go, we are moving into spring market conditions. Even with some of that white stuff that has been more fleeting this year, it will not dampen a real estate market that saw 44% of single family house sales and 31% of condominium sales go for above list price in February.”
Housing inventory remains tight with about a month and a half worth of supply if no new listings enter on the market. While this is not the case in all MLS® areas throughout the Greater Winnipeg market region, there clearly is a need for fresh listings overall. If an owner is thinking of putting their property on the market, they should be calling their REALTOR® to give them a current market assessment of their unique situation and positioning in the market to give their listing full maximum exposure on the MLS® when there are less properties to compete against.
The most active residential-detached price range in February was $250,000 to $299,999 with 20% of total sales. The two next lower price ranges of $200,000 to $249,999 and $150,000 to $199,999 each grabbed 17% of total sales. While not quite as dominant as it has been, the price range of $150,000 to $199,999 represented 36% of the total condominium sales. The next busiest condo price range was from $200,000 to $249,999 with 20% of total sales.
The average days on market to sell a home was 28 days, two weeks faster than last month and 2 days slower than February 2011. Days on market for condominium sales was 28 days also, one week faster than last month and 4 days off the pace set in February 2011.