Capping off a phenomenal month of MLS® activity was the sale of the first $1-million home of the year.
“It is only the fifth $1-million dollar or higher priced home recorded in Winnipeg Real Estate Board history,” said WREB president Ruthe Penner.
MLS® results for May were unmatched by previous years. Dollar volume closed in on $200 million for the first time ever. The previous highest monthly dollar volume was June 2004 at $156 million.
And, sales went to 1,434 units. Previously, the highest total of sales was 1,360 in May 2001. Last year, the total for May was only 1,214 units. New listings were also up 12 per cent over the same month last year.
Year-to-date MLS® unit sales are up five per cent to 4,867 units, while dollar volume has increased a whopping 21 per cent to $643 million.
“May was a phenomenal month on all facets of the MLS®market,” said Penner. “Most staggering, and even somewhat surreal to me, is the fact dollar volume that is based primarily on residential-detached sales activity almost reached the $200-million level. Only five years ago we would not have been too disappointed if we had a May dollar volume around the $100-million mark.”
Residential-detached sales in May were most active in the $130,000 to $159,999 price range which accounted for 23 per cent of all sales.
Another 20 per cent of total sales were $200,000 or more.
There were 43 homes that sold for over $300,000.
The average days on market for May 2005 was 18 days, one day quicker than last month and one day slower than May 2004.