WinnipegREALTORS® Press Release; August 3, 2012

WINNIPEG- WinnipegREALTORS® noted the 2011 third quarter was quite exceptional so a formidable foe to outperform in 2012. July 2012 proved this point. When it came to the finish lineMLS® sales fell short by less than 2% or 21 sales. Dollar volume was the reverse as July 2012 eked out a narrow victory over July 2011 by a little over $6 million or 2%. Close for sure on both accounts and while neither years’ set all time best sales records for this summer month they both are slightly better than the 10-year running average of 1,223MLS® sales.

Fastest to the finish line in record fashion is the year-to-date dollar volume. Never before has WinnipegREALTORS® in its 109-year history transacted $2 billion inMLS® sales in the first seven months of the year. With five months to go and a cushion of an 8% gain over the same period last year the potential for another annual dollar volume record which will eclipse $3 billion for only the second time is well within reach.

As for year-to-date listings entered on theMLS® system, another tight race is emerging with 2012 just going over 12,000 listings. 2011 was still under 11,800 listings by the end of July.

JulyMLS® unit sales decreased by less than 2% ( 1,225/1,246) while dollar volume was up 2% ($294.4 million/$288.1 million) in comparison to the same month last year.  Year-to-dateMLS® sales are ahead by 3% (8,146/7,906) while dollar volume has increased 8% ($2.00 billion/$1.84 billion) compared to the same period last year.

“Another solid performance turned in by our 1600 strong REALTOR® team in the month of July,” said Shirley Przybyl, president of WinnipegREALTORS®.  “We are moving on a sales pace so far this year that is only slightly behind the fastest one set in 2007.  Even if we do fall short in the end 2012 is shaping up to be one worthy of a Clara Hughes smile.”

The most active price range for residential-detached sales continues to be the $250,000 to $299,999 price range with 23% of total sales. Not far behind are the two lower price ranges from $200,000 to $249,999 and $150,000 to $199,999 with 19 and 17% respectively. July 2012 showed how diverse WinnipegREALTORS® housing market is with house sales of $1,329,000 and $12,500.

Condominium sales activity is most prevalent in the $150,000 to $199,999 price range with 35% of total sales.

Average days on market for July residential-detached sales was 26 days, 2 days slower than last month and a dead heat with July 2011. Average days on market for condominium sales was 41 days, a full two weeks slower than last month and July 2011.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,700 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®,MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.