WinnipegREALTORS® noted that the 2011 third quarter was quite exceptional so it became difficult to match this year. July 2012 proved this point. When it came to the finish line, MLS® sales fell short by less than two per cent, or 21 sales. Dollar volume was the reverse, as July 2012 eked out a narrow victory over July 2011 by a little over $6 million, or two per cent — close for sure on both accounts.
And while neither years set all-time best sales records for July, they both were slightly better than the 10-year running average of 1,223 MLS® sales.
Fastest to the finish line in record fashion is the year-to-date dollar volume. Never before in its 109-year history has WinnipegREALTORS® transacted $2 billion in MLS® sales in the first seven months of the year. With five months to go and a cushion of an eight per cent gain over the same period last year, the potential for another annual dollar volume record eclipsing $3 billion for only the second time is well within reach.
As for year-to-date listings entered on the MLS® system, another tight race is emerging with 2012 just going over 12,000 listings. Last year was still under 11,800 listings by the end of July.
July MLS® unit sales decreased by less than two per cent (1,225/1,246), while dollar volume was up two per cent ($294.4 million/ $288.1 million) in comparison to the same month last year.
Year-to-date MLS® sales are ahead by three per cent (8,146/7,906), while dollar volume has increased eight per cent ($2 billion/$1.84 billion) compared to the same period last year.
“Another solid performance turned in by our 1,600 strong REALTOR® team in the month of July,” said Shirley Przybyl, president of WinnipegREALTORS®. “We are moving on a sales pace so far this year that is only slightly behind the fastest one set in 2007. Even if we do fall short in the end, 2012 is shaping up to be one worthy of a Clara Hughes smile.”
The most active price range for residential-detached sales continues to be the $250,000 to $299,999 price range with 23 per cent of total sales. Not far behind are the two lower price ranges from $200,000 to $249,999 and $150,000 to $199,999 with 19 per cent and 17 per cent, respectively.
July 2012 showed how diverse WinnipegREALTORS® housing market is with individual house sales of $1,329,000 and $12,500.
Condominium sales activity is most prevalent in the $150,000 to $199,999 price range with 35 per cent of total sales.
The average days on the market for July residential-detached sales was 26 days, which was two days slower than last month and a dead heat with July 2011. The average days on market for condominium sales was 41 days, a full two weeks slower than last month as well as July 2011.