December Real Estate Update by Winnipeg REALTORS®
Here are the highlights of the December update by Winnipeg REALTORS®.
Total sales of MLS-listed units were 617, which is a 4% decrease over Dec. 2015, but an 11% increase over the 10-year average.
New listings coming to market were down 8% in December, and the overall ‘inventory’ of active listings was under 3,000 an 11% decrease over 2015.
Winnipeg REALTORS® report that December’s sales were disappointing, and blame that fact on the new mortgage rules which were recently implemented, and may be affecting first time buyers more adversely than anyone expected. (2 city-closing blizzards and Mars-like temps may also play a factor here…Bo)
60% of all residential detached home sales are below the $300,000 mark, and the averge days on market for December was 42 days, the same as the previous December.
In condos, the most active price range is (as usual) between $150,000 and $200,000, which accounted for 1/3 of all sales. This was followed by the $200-$250K range, and then by the next higher price range of $250-$300K.
Average days on market before the sale was 52 days, actually 19 days faster than Dec 2015.
Previous Months Reports
November Real Estate Report by Winnipeg REALTORS®
Here are the highlights of the Winnipeg real estate report for November 2016.
November MLS® sales activity was less than 3% off the best November ever in 2015 when it eclipsed 900 sales. This solid result ensures the addition of sales in December to the November year-to-date total will usher in a new all-time annual sales record for WinnipegREALTORS®. It will replace 2007 as the top sales year ever in the association’s 113 years of operation.
The two main property types (Houses and Condos) went in opposite directions in November. Residential-detached or single family home transactions were down 7% while condominiums increased 8%.
The House Market
The most active price range for residential-detached sales in November 2016 was from $250,000 to $299,999 at 20% of total sales. Next busiest is the $200,000 to $249,999 price range at 17%.
- Average Days on Market: 36 days (5 faster than last year)
The Condo Market
The most active price range for condominium sales in November 2016 was from $150,000 to $199,999 at 22% with the second busiest price ranges of $200,000 to $249,999 and $250,000 to $299,999 both representing 16% of total sales.
- Average Days on Market: 54 days (5 days slower than last year)
MLS® inventory going into the final month of 2016 is sitting at just over 4,000 listings and is down 8% compared to the same period last year. The primary reason for the decrease is due to stronger demand for listings in 2016.