Although the MLS® market in July was off the highly-charged pace set in May and June, the results were still strong enough to record best-ever sales and dollar volume for the vacation month, according to the Winnipeg Real Estate Board.
May and June MLS® happened to be the all-time two best months in the WREB’s 103-year history.
“It stands to reason July would be a little less hectic than May and June since they were such exceptional months in every possible way,” said Walter Boni, president of the Winnipeg Real Estate Board. “Our 1,100 REALTOR® members still connected nearly 1,200 sellers with buyers in July and nearly one-half of all the sellers achieved a sale price at or above the listing price.”
Early July 2006 also marks the first time the Winnipeg Real Estate Board has gone over $1 billion in such a short period of time, almost a month sooner than last year.
In July, there were 1,186 MLS® sales and a dollar volume of $179 million, compared to 1,102 sales and a dollar volume of $148 million in the same month last year. July MLS® sales increased eight per cent while dollar volume rose 21 per cent over July 2005.
Year-to-date sales are up three per cent to 7,593 units and dollar volume rose 17 per cent to $1.16 billion.
MLS® listings are 10 per cent higher this year when compared with the same period in 2005.
“Next month will be interesting as
we had an unusually strong month in
August,” said Boni. “While remaining positive about this year’s market activity for MLS®, I know we will be challenged to outperform last year’s August sales
“It will not be the same for dollar volume sales since prices this year are well up from only a year ago,” he added.
Two areas that typify how MLS® area average prices have gone up in 2006 — a combination of price increases and more luxury homes selling at premium prices — are Tuxedo and East St. Paul where year-to-date average sale prices are $454,508 and $420,626, respectively.
Residential-detached sales in July were predominantly grouped in the three price ranges between $100,000 and $200,000. Together they comprised 54 per cent of total sales. Outside of these price ranges, the most active price range with 12% of all residential-detached sales was from $70,000 to $99,999.
The average days on market for July MLS® listings was 26 days, five days slower than last month and two days off July 2005.