Sales and dollar volume rose to record levels in June, according to figures recently released by the Winnipeg Real Estate Board.
Dollar volume sales in June were just $5 million short of May’s all-time monthly record and stood at nearly $194 million, which is an increase of 23.82 per cent over June 2004’s total of $156.5 million.
“To put this into perspective, we have to realize that last June
was the best month ever recorded in
the board’s history for dollar volume — and this year we beat it by 24 per
cent,” said WREB president Ruthe
Penner said that June dollar volume probably fell short of May’s total because there were just four weeks in June compared to five in May.
“No matter what,” she added, “May and June have been spectacular.”
And, MLS® sales reached 1,387 units compared to 1,302 for the same month last year which is an increase of almost six per cent.
The highest priced active MLS® listing on the system for the end of June was $1,975,000 and the lowest was $14,900.
The highest priced MLS® sale in June was $750,000 and the lowest sale was $7,500.
June MLS® listings were up almost four per cent to 1,763, and the average days on the market for a single-family home was just 20 days.
Penner indicated that continued low interest rates, low inflation, strong job growth, high consumer confidence and an increase in population suggest there won’t be any reversal in the resale market anytime soon.
“While we hope the record rains stop for the rest of the summer, we don’t think the record MLS® activity will,” she said.
What is happening locally has also been happening across the nation.
“The Canadian Real Estate Association reported that MLS® resale activity is setting records in every province,” said Penner.
“Our national economist advises that for the first time in history, the value of resale housing transactions through the Multiple Listing Service® in Canada topped $10 billion. A total of 40,268 units were sold through MLS® in May.”
Records were shattered during May in Alberta, Quebec, New Brunswick, Prince Edward Island and Newfoundland and Labrador.
Year-to-date, the MLS® in Winnipeg has recorded a dollar volume of $837 million which is up 22 per cent from the last half of 2004.
“It looks like we’ll pass $1 billion again — but this time by the end of August,” said Penner.
Last year, it took until mid-September for MLS® sales to top the $1-billion mark.
So far this year, MLS® listings are up 5.4 per cent to 8,154, and sales are up 8.48 per cent to 5,254 units.