Another impressive month for Multiple Listing Service®

It was the best March on record for the Multiple Listing Service®.

Sales surpassed 1,100 for the first time and dollar volume closed in on $180 million — more than double the previous record set five years ago.

“Up, up and away is a good description of March,” said WinnipegREALTORS® Association president Wes Schollenberg. “Despite the lingering cool weather in March, it was apparent spring had arrived for the real estate market.”

Schollenberg said the percentage of sales in the higher-priced categories increased, while sales in the under-$39,000 category continued its decline, accounting for only 12 residential-detached sales.

“As predicted earlier this year in the WREN, condominium sales gained a greater share of the MLS® market,” said Schollenberg. “This March, condos represented 15 per cent of total sales, which is one-third higher than in March 2006.”

March MLS® sales were up 12 per cent to 1,140 units, while dollar volume climbed by 10 per cent to $177.4 million.

First quarter results show sales were ahead by six per cent to 2,492 units when compared to the same quarter in 2006. In addition, $388.7 million in MLS® sales was 14 per cent higher than the first quarter of  2006.

The conversion of MLS® listings-to-sales was an impressive 71 per cent for the first three months of 2007. The turnover in March was 61 per cent.

Schollenberg said a bright spot for potential home buyers was the over 10 per cent increase in new MLS® listings during March.

Residential-detached sales in March were most active in the $160,000 to $199,999 price range, which contributed 19 per cent of total sales. At 18 per cent, the $130,000 to $159,999 price range was a close second.

The average home remained on the market for just 23 days during March which was four days faster than last month and the same time frame as March 2006.