WinnipegREALTORS® Press Release, March 5, 2014

WINNIPEG - Whether it be Olympic fever or just plain deep freeze weather that kept buyers at home, the February MLS® results show strong listing activity but less motivation by buyers to get out and take advantage of the good supply and selection of listings. Sales were affected in one way or another and are down 8% from the 10-year average of 743 sales. Property types most negatively impacted this month were vacant lots and duplexes as residential-detached and condominiums, in particular, saw increases over last February.

As a result of more listings coming on the market with less of them being converted to sales than last year at this time, Winnipeg’s MLS® market has moved into balanced conditions. Buyers are now in a more favourable position to get what they want and have more time to do it. The number of residential-detached listings selling for above list price in February was just over 30 per cent, down five percentage...