MLS® sales continue winning ways in January

The Multiple Listing Service got off to a good start this year. MLS® sales were ahead of the January 2006 pace by two per cent and dollar volume was up nine per cent.

Active listings were also in a better position, recording a nine per cent increase over January 2006.

January MLS® unit sales of 555 and a dollar volume of $83 million resulted in one of the best Januarys on record. Dollar volume did set a new January record with $83.4 million in sales.

“Despite a more frigid January this year, MLS® activity did not stall and actually came out ahead of January 2006,” said Wes Schollenberg, president of the WinnipegREALTORS® Association.  

“An indication of the continuing strength of the MLS® market in 2007 is the fact that 35 per cent of the residential-detached properties that sold in January sold for above list price.”

A 2007 forecast session held last week by the association predicted numbers very close to the January 2007 monthly result. 

The expectation is for MLS® sales to be similar to those in 2006. The dollar volume sales percentage is expected to spike upward, although the percentage will be in the high single digits instead of the double digit percentages experienced over the previous four years.

“If this forecast holds we could well see our first year of $2 billion worth of MLS® sales activity,” said Schollenberg.

MLS® dollar volume sales hit a record $1.87 billion by the end of 2006, a 13 per cent increase over 2005 which was the previous record year.

The $160,000 to $199,999 residential-detached price range was the most active in January, recording 21 per cent of all sales.  

Next was the $130,000 to $159,999 price range with 17 per cent of total sales activity.  

The highest-priced home sale was $940,000 while the lowest sold for $24,000.  

The average days on market for January 2007 was 35 days, one day faster than December last year and a day off the pace set in January 2006. 

“The leading real estate market indicators remain positive — low unemployment numbers and low mortgage rates — and we have a strong network of well-trained, full-time real estate professionals ready to employ the latest technology to serve the needs of buyers and sellers,” added Schollenberg.