WINNIPEGREALTORS® PRESS RELEASE, August 6, 2021

WINNIPEG, August 6, 2021 - Despite July sales slipping back from June 2021 and July 2020 record-setting months, year-to-date market activity is on pace to set another annual sales record for the third consecutive year. Sales of 11,797 for the first seven months are up 36% over the same period in 2020 and 43% over 2019. Dollar volume is elevated to nearly 52% over 2020 and close to $4 billion in sales activity thus far in 2021.

July 2021 sales of 1,678 are well off last month’s best ever June result of 1,943 sales and down 12% from the 1,898 sales transacted in July 2020. They are, however, still up 7% over July’s 5-year monthly average. The 2,172 listings entered on the MLS® in July were 10% fewer than in July 2020 while the current supply of 2,919 listings for sale at month’s end are down 34% from a year ago.

“If you look at 2021 as a full year marathon, not shorter runs such as weekly or monthly periods...

WINNIPEGREALTORS® PRESS RELEASE, July 8, 2021

WINNIPEG, July 8, 2021 - June sales of 1,943 edged out last June’s sales of just under 1,900 by 2% and are up 14% over the 5-year average for this month. Dollar volume of $677.5 million jumped 16% over June 2020. New listings coming on to the market in June were down 12% at 2,373, while current inventory of 2,791 at month end decreased 39% from 2020. 

“Sales are coming down off their peak in April 2021, and more closely aligned with 2020. June 2020 was the first month when sales rebounded strongly after the pandemic economic shutdown,” said Kourosh Doustshenas, 2021 president of the Winnipeg Regional Real Estate Board. “2021 dollar volume gains remain in the double-digits and represent strong upward price movement compared to 2020.” 

Year-to-date sales of 10,131, for the first half of 2021, increased 49% over the same period in 2020 and 35% over the 5-year average. Dollar volume of $3.4 billion...

WINNIPEGREALTORS® PRESS RELEASE, June 4, 2021

WINNIPEG, June 4, 2021 - Back-to-back monthly sales of over 2,000 reaffirms 2021 as a year like no other. May 2021 sales of 2,006 increased 46% over May 2020 and 21% above the 5-year average for this month. The 2,006 sales are only surpassed by April 2021 when 2,055 sales were transacted on the Winnipeg Regional Real Estate Board’s Multiple Listing Service® (MLS®).

Dollar volume for May is up 70% over the same month last year with an all-time record monthly total of $692.6 million worth of sales.

Year-to-date MLS® sales of 8,197 have increased 68% while dollar volume of $2.72 billion is up 89% over the same period in 2020. Listings entered on the MLS® this year are ahead of 2020 by nearly 9% with 10,594 listings. 

Despite a 4% increase in new listings entered in May due to this month’s very buoyant sales activity, the active listing supply at month end going into June is down 40% from 4,621 last year...

WINNIPEGREALTORS® PRESS RELEASE, APRIL 7, 2021

WINNIPEG, May 7, 2021 - For the first time in the history of monthly MLS® sales, the Winnipeg Regional Real Estate Board’s April sales tipped over the 2,000 threshold. The 2,055 sales in April edged out last month’s sales of 1,975 and are up 53% over the 5-year average for this month. Dollar volume set a new record monthly high as well in April with $678.3 million transacted in sales — a 65% rise over this month’s 5-year average.

The 2,615 listings remaining at month end are down 41% from the same time last year despite a dramatic fall off in new listings entered in April 2020 due to the pandemic economic shutdown. The good news is that year-to-date cumulative listings of 8,066 represent a 10% increase over 2020 and are less than 1% behind those entered in 2019.

In April, 78% of active MLS® listing supply turned over — and for single-family homes it was an astounding 131% — leaving...

WINNIPEGREALTORS® PRESS RELEASE, APRIL 7, 2021

WINNIPEG April 7 - March 2021 set a new all-time monthly record for MLS^® sales and dollar volume. Sales of 1,975 rose 80% over March 2020 and 60% over the 5-year monthly average for this month. Dollar volume took off as well with $663.9 million transacted - a 98% increase over the same month last year.

Brisk sales activity left listing supply down 42% from 2020 with 2,597 listings available for sale going into April. However, an encouraging sign is the fact new listings coming on the market in March recorded a 14% rise to 2,483 listings. They are also up 11% over the 5-year average.

A clear indicator of how firmly entrenched the Winnipeg Regional Real Estate Board (WRREB) is in a seller’s market is that the equivalent of 76% of all active listings — or current inventory — sold in March. This compares to a more typical conversion of 24% as was the case in 2020.

“Sales percentage increases are well distributed...

I provided the full Winnipeg Regional Real Estate Board March Press Release in my previous post. The full report can be viewed here. But here is a recap of the highlights and a deeper dive into the sales results for the City of Winnipeg, separate from the rest of the metro region.

Total February 2021 MLS® sales of 1240 were up 48.2% over February 2020, and up 71.3% over February 2019.

Drilling down a bit deeper in terms of property type:

1. Single family home sales on MLS® in February were up 45.1% over February 2020, and up 61.2% over February 2019.

2. Condominium sales on MLS® in February were up 46.6% over February 2020, and up 58.9% over February 2019.

Total listings on MLS® at the end of February for the metro region was 2501, 41.4% less than at this same time last year, and 33.0% less than at this time in 2019.

As always, I highlight that these monthly reports from the Winnipeg Regional Real Estate Board are general, overall monthly market statistics for the entire region...

WINNIPEGREALTORS® PRESS RELEASE, MARCH 4, 2021

WINNIPEG -  February continues to show significant increases over the same month last year with 1,240 sales, a 48% rise in early year market activity and 68% in comparison to the 5-year average. The $395 million in dollar volume transacted in February was more pronounced with a 67% jump over February 2020.

Rapid turnover of listings due to heightened market activity resulted in current supply at the end of February down 41% — 2,501 versus 4,266 in 2020. New listings coming on the market in February were 1,661, down less than 3% compared to the same month in 2020 and up 5% over the 5-year average.

“New listings entered on our MLS® in February are in keeping with previous years,” said Kourosh Doustshenas, president of the Winnipeg Regional Real Estate Board. “The difference in 2021, and much like the second half of 2020, is we are experiencing record-setting month over same month sales, so sellers remain...

WINNIPEGREALTORS® PRESS RELEASE, FEBRUARY 4, 2021

Winnipeg Regional Real Estate Board - January Market Release - 2021 picked up right where 2020 left off with MLS® sales brisk and listings still in short supply. MLS® sales in January of 934 increased 28% while dollar volume was up 38% to over $285 million in comparison to the same month last year.

New listings entered on Winnipeg Regional Real Estate Board’s MLS® System in January were down 15% compared to January 2020. The current listing supply at the end of January of 2,410 decreased 40% from the 4,002 listings available last year.

“As we enter 2021, the same tight market supply conditions experienced last year remain firmly entrenched,” said Kourosh Doustshenas, president of the Winnipeg Regional Real Estate Board.

One indicator - or metric - used to gauge market demand strength is the percentage of listings converted to sales every month. January 2021 is leaps and bounds ahead of previous...

I provided the full WinnipegREALTORS® January Press Release in my previous post. The full report can be viewed here, but here are some of the highlights and a deeper dive into the 2020 sales results for the City of Winnipeg, separate from the rest of the metro region

Let's start with the entire metro region:  Total December 2020 MLS® sales of 970 were up 43.9% over December 2019. And total MLS® sales for 2020, all property types, was 16,033, up 17.40% from 2019!

Drilling down a bit deeper in terms of property type:

- Single family home sales on MLS® in December were up 31.9%, and for the year up 16.9%.

- Condominium sales on MLS® in December were up 62.0%, and for the year up 5.5%.

Total listings on MLS® at the end of December for the metro region was 2,316, 37.8% less than at this same time last year.

If we look at Winnipeg only, inventory on MLS® for residential homes (single family homes, SxS’s, town homes, etc.) at the end of December...

WINNIPEGREALTORS® PRESS RELEASE, JANUARY 7, 2021

WinnipegREALTORS® December Real Estate Market Release - December 2020 MLS® sales of 970 elevated year-end total sales to 16,033, a 17% increase over 2019. This year has been a remarkable record-setting one with 7 consecutive months of new highs. December continues this record with sales up 44% over December 2019 and 41% over the 5-year average.

December dollar volume of nearly $290 million increased 46% over December 2019 and pushed dollar volume up to over $4.9 billion, a 21% increase over the previous highest dollar volume year of 2019.

For all of the record sales activity the last 7 months, active listings or inventory going into 2021 is down 38% to 2,316 listings. Residential-attached properties (include single-attached, townhouse and duplexes) help illustrate this point.

In December, the 90 residential-attached sales transacted doubled last year’s total and represented 90% of the supply at month end of 100 listings....

The increase in lumber prices that has impacted new home construction in 2020, will continue into 2021, according to a recent CBC report.

The CBC report quotes mostly national numbers, but increased lumber costs have rippled through our local market as well.  In the Winnipeg area, base pricing on new homes has seen an increase of approximately 5 - 7 %, since June 2020.

When the lumber price increases will slow, or where a plateau in pricing will end up, no one really knows.  But if you are considering a new home build in 2021, my recommendation would be to make a commitment and lock in your pricing sooner than later.  The savings to your bottom line will most likely be significant . . .

WINNIPEGREALTORS® PRESS RELEASE, December 5, 2020

WinnipegREALTORS® November Real Estate Market Release - Six consecutive months of record monthly sales have pushed year-to-date sales over 15,000 for the first time. This total is over 2,000 sales greater than the 11 months of MLS^® market activity in 2019. November sales of 1,193 were up 32% over the same month in 2019. Up until 2020, 900 sales has been the upper limit of this month.

New listings coming on the market in November are down 12% compared to a very active listing month in November 2019. Inventory or current listing supply going into December is 3,136. There were over 5,000 listings available for sale at this time last year.

Year-to-date sales of 15,066 are up 16% over the same period last year while dollar volume of $4.6 billion is ahead of 2019 by 19%. There are 22,646 listings entered on MLS^® this year, down 9% from the number of listings entered last year up until the end of November.

“Momentum...

WINNIPEGREALTORS® PRESS RELEASE, November 5, 2020

WinnipegREALTORS® October Real Estate Market Release - Five consecutive months of record-setting market activity puts an exclamation mark on a year like no other. As a result, the v-shaped recovery from the early spring economic shut-down, which began in earnest in June, brings year-to-date results to a record total of 13,876 sales.

Sales have risen 15% over the same period in 2019 and are ahead of the 13,662 annual total sales record set last year. Similarly, year-to-date dollar volume of $4.24 billion is up 18% over the same period in 2019, and higher than last year’s record dollar volume of $4.06 billion.

October sales of 1,595 increased 36% over October 2019 and dollar volume of $505.3 million eclipsed last October’s total by 48%. New listings of 1,786 entered in October were actually down 8.8% in comparison to October 2019. The 3,545 listings available for sale in November have declined 35% from the same time in 2019....

WINNIPEGREALTORS® PRESS RELEASE, October 8, 2020

WinnipegREALTORS® September Real Estate Market Release - September MLS® sales reaching an all-time high of 1,777 for this month compared to 1,211 in 2019 indicates the resurgence of sales since June continues throughout the third quarter.

Sales dollar volume in September of over half a billion dollars rose 57% compared to September 2019. The higher percentage increase in dollar volume compared to the 47% gain in sales is an indicator of upward pressure on prices. This is due to the accelerated sales activity and the rapid depletion of listings.

Active listings at the end of September are down 34% from 6,012 in 2019 to current inventory of 3,942.

“We are witnessing unprecedented times and certainly our third quarter sales activity of over 5,500 sales is unrivalled from any previous quarter in WinnipegREALTORS® history,” said Catherine Schellenberg, president of WinnipegREALTORS®. “For comparison sake, last...

WINNIPEGREALTORS® PRESS RELEASE, September 9, 2020

WinnipegREALTORS® August Real Estate Market Release - Recovery in sales since June has turned into a strong resurgence in MLS® market activity with August registering 1,845 sales, the third straight month of 1,800 plus sales. Sales in August are up 28% over August 2019 and the five-year average for this month.

Listings however have not rebounded with the same vigour. The 2,374 new listings entered on the market in August are down 1% from last August and dropped 9% in July when compared to the same month in 2019.  As a result, it leaves the current inventory of 4,232 listings down 30% from the same time last year. The number of sales in August represents 44% of the current inventory whereas last August it was 24%.

“Following three months of overall heightened sales activity we are not seeing the same response with listings coming on the market,” said Catherine Schellenberg, president of WinnipegREALTORS...

WINNIPEGREALTORS® PRESS RELEASE, August 11, 2020

WINNIPEG - On record for the first time, WinnipegREALTORS^® market region experienced consecutive months for top monthly MLS^® sales. July MLS^® sales are 1,898 compared to 1,897 in June which outpaced the previous record month in May 2019 of 1,705 sales.

July 2020 MLS^® sales are up 32% over July 2019 while dollar volume ($596.1 million) is up 36% over July 2019. Year-to-date MLS^® sales of 8,672 is 5% ahead of the same period last year and the dollar volume reached $2.61 billion in the first 7 months or a 7% increase over last year.

“We are witnessing a very different market this year, with the record month in July bringing us beyond our year-to-date sales in 2019,” said Catherine Schellenberg, president of WinnipegREALTORS^®. “While WinnipegREALTORS^® forecasted another strong year following a successful 2019 with an expanded rural area, we did not expect such a s...

WINNIPEGREALTORS® PRESS RELEASE, July 9, 2020

WINNIPEG - June sales activity took a major step forward towards bringing year-to-date sales back to last year’s total. Multiple Listing Service® sales in June of 1,897 increased 24% over the same month in 2019 and 15% over the 5-year June average. This monthly sales total of just fewer than 1,900 succeeds the previous best month on record in May 2019 when there were 1,705 sales.

Year-to-date sales at the mid-way point of the year are 6,779, less than 1% or 44 unit sales behind the same period in 2019, and 1% below the 5-year average of 6,865 sales.

“Our sales recovery which began in the second half of May confirms Manitobans are feeling confident in transacting in WinnipegREALTORS® market region,” said Catherine Schellenberg, president of WinnipegREALTORS®. “I give credit to all Manitobans who are doing their part to follow social (physical) distancing protocols and a special note of thanks to essential...

WINNIPEGREALTORS® PRESS RELEASE, June 4, 2020

WINNIPEG - Sales of 1,377 decreased 19% in May compared to the same month last year while just over $400 million worth of dollar volume transactions fell 23% compared to May 2019. The 2,428 new listings entered in May were down 21% from last year. There are still 4,621 listings available for sale in June.

“May market activity was clearly impacted by COVID-19 at the outset of May with MLS® sales down similar to the 30% drop off in April sales by mid-month,” said Catherine Schellenberg, president of WinnipegREALTORS®. “It is worth noting however that recovery took hold in the second half of the month with sales from May 20-26th actually outpacing the number recorded the same week in May 2019. Listings also saw an improvement over April with the percentage decline cut in half.”

Year-to-date MLS® sales are at 4,884, less than 8% off the pace set in 2019 while dollar volume of $1.44 billion is down close...

WINNIPEGREALTORS® PRESS RELEASE, May 7, 2020

WINNIPEG - Following the best first quarter market results in WinnipegREALTORS® history, the shutdown of the economy to flatten COVID-19 put the brakes on the market with a reduction in sales and listings.

Multiple Listing Service® sales of 851 were down 30% while the 1,568 new listings entered on the market in April decreased 42% in comparison to April 2019. A number of prospective sellers and buyers took a wait and see approach to what usually is a big jump in activity to kick off the spring market. Overall inventory of listings available for sale remain at a healthy level of 4,466, slightly down 3% from the 5-year average.

Despite this monthly dip in sales, year-to-date sales of 3,511 are just 2% behind the same period in 2019 and 3% down from the 5-year average. Year-to-date dollar volume of just over $1 billion is down 3% from 2019. Similar to sales, dollar volume was off to its fastest three month start with close to...

As you have seen the from the first three (January, February and March) monthly market reports from the WinnipegREALTORS® Association, the real estate market in the Winnipeg Metro Region started strong in 2020.

But as always, I emphasize that these monthly reports are general, overall monthly market statistics for the entire region and for a variety of property types.

Given what is occurring in the world right now with the COVID-19 pandemic and the economic slowdown, I felt it appropriate to supplement the monthly report with more details as to market conditions within a more specific geographic area and as it pertains to specific property types.

If we look at the city of Winnipeg only, the residential (single family homes, SxS’s, town homes, etc.) MLS® market numbers for the entire month of March look reasonably healthy . . . new listings up 1.4% over the previous year and sales down only 3.4%. Pretty remarkable given all that is going on in the world right now.

But if we...