Market Stats
Winnipeg Free Press Article
By: Murray McNeill
WINNIPEG'S resale homes market produced one of the highest returns on investment in the country over the past 11 years, according to a new report from RE/MAX Canada.
The real estate firm's Housing Barometer Report released Tuesday compared average price increases in 18 major Canadian cities between 2000 and 2010 and calculated the annually compounded rate of return for each market.
It found Winnipeg had the fifth-highest rate of return at 9.01 per cent, with average selling prices jumping from $88,553 in 2000 to $228,706 in 2010.
The only cities with better returns were Regina (9.56 per cent), Edmonton (9.25 per cent) and Saskatoon and Quebec City (both at 9.20 per cent).
The national average was 6.82 per cent.
By comparison, data supplied by Jory Capital in Winnipeg shows that between end of 2000 and the end of 2010 -- a 10-year period -- the S&P/TSX Composite Index showed a rate of return of 88 per cent, or 6.51 per cent annually.
The Re/Max report said one of the main driving forces behind the escalation in house values in Winnipeg was the combination of high demand and tight supply, which sparked multiple offers for many properties in recent years.
"By far the tightest market in the nation was Winnipeg, where sellers ruled the roost for 85 per cent of the decade," it said. "January 2000 marked the last clear-cut buyer's market in the city..."
Alan Ediger, of Re/Max Executives Realty in Winnipeg, said the escalation in property values is good news for homeowners, but not so good for homebuyers who end up paying more for a home, especially first-time buyers.
But even with prices escalating at one of the fastest paces in the country, Ediger said homes here are still more affordable than in most other major Canadian cities.
He said some of the factors that have helped fuel the strong demand for homes in Winnipeg are the influx of new immigrants, many of them skilled workers who could afford to buy a home, and historically low interest rates, which make buying a home more affordable.
The report also said Winnipeg's resale market is off to another strong start in 2011, thanks to a strong economy and low unemployment levels.
PRESS RELEASE
<December 6, 2010
ANOTHER DOLLAR VOLUME RECORD FOR NOVEMBER
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A 10% Increase Over 2009
WINNIPEG - November 2009 may have had better weather and 8 more MLS ® sales than this November, but dollar volume once again in 2010 displayed its unrelenting march to greater heights. It increased nearly 10% over the previous highest November dollar volume in 2009. As a result, WinnipegREALTORS® has achieved its highest annual MLS ® dollar volume on record at $2.58 billion, and there is still a month to go. This eclipses the previous best annual dollar volume record set in 2009 of $2.47 billion.
November MLS ® unit sales were down less than 1% (829/837) while dollar volume rose 10% ($182.2 million/$166.3 million) in comparison to the same month last year. Year-to-date MLS ® sales are virtually deadlocked with last year, up only 0.17% (11,853/11,563) while dollar volume rose 10% (2.58 billion/ $2.34 billion) in comparison to the same period in 2009. Year-to-date listings entered on MLS ® are over 17,000, 2% ahead of last year at this time. However, the conversion of these listings to sales has dropped off 1.4% from 2009.
“In many respects, the first eleven months has a striking resemblance to last year with the exception that prices are continuing to climb as they have been doing year-over-year since 2003,” said Claude Davis, president WinnipegREALTORS®. “Looking ahead to the end of the year, WinnipegREALTORS® has already set a new annual MLS ® dollar volume record and will see MLS ® sales finish over the 12,000 mark – a level only surpassed five times before.
For residential-detached sales in November, the most active price ranges were the $150,000 to $199,999 and the $200,000 to $249,999 with each having 22% of total sales. Interestingly enough, the $100,000 to $149,999 and the $250,000 to $299,999 price ranges also had an equal share of the total market at 13% each. The average days-on-market for residential-detached sales was 32 days, 3 days off the pace set last month and in November 2009.
Condominium sales performed well in November, as they were up 10% over the same month last year. Nearly 70% of all sales were from $100,000 to $249,999. The average days-on-market for condominium sales was 34 days, a week quicker than the same month last year.
Established in 1903, WinnipegREALTORS® is a professional association representing over 1,600 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.

PRESS RELEASE
November 5, 2010
For Immediate Release
YEAR-TO-DATE MLS® SALES EVEN WITH 2009
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October MLS® Sales Down 3%; MLS® Dollar Volume Up 6%
WINNIPEG
– If this was an election it would be too close to call. On the final stretch drive with two months to go it is a dead heat in terms of MLS® sales compared to last year. There are only 28 more MLS® sales in 2010. However dollar volume is a different story. It is up 10% in comparison to 2009 and while sale do drop off at year end there should be no doubt WinnipegREALTORS® will set its 10th consecutive annual MLS® dollar volume record in 2010. 2001 finished with a dollar volume level just shy of the $1 billion mark. Ten years later the final amount could possibly reach $2.7 billion.While sales have risen in the last 10 years the primary reason for the significant jump in dollar volume is price increases. The residential-detached or single-family home average price has gone from $100,000 to $242,000 while condominiums have soared even higher percentage-wise from $79,000 to a 2010 year-to-date average price of $197,000.
For October 2010, dollar volume is the highest on record for the month of October despite being outperformed in sales the previous five years. New MLS® listings in October were ahead slightly and the active MLS® listings or the current inventory going into November has nearly 10 per cent more properties for buyers to choose from than 2009.
October MLS® unit sales were down 3% (949/979) while dollar volume was up 6% ($214.2 million/$201.4 million) in comparison to the same month in 2009. Year-to-date MLS® unit sales are even with last year (10,754/10,726) while dollar volume is up 10% ($2.39 billion/$2.17 billion). Total MLS® listings entered on the MLS® this year are 17,744; an increase of 12% over 2009.
"Relative to many other markets across the country Winnipeg is holding its own so we are clearly viewing our sales activity here as the glass half full," said Claude Davis, president of WinnipegREALTORS®. "If there is disappointment, it is in regard to the lower end of the residential-detached housing market where sales continue to show some appreciable declines over the year before. We are of the opinion provincial land transfer tax relief would be helpful in addressing this development which has emerged more noticeably since 2009."
Backing up WinnipegREALTORS® president’s statement on taking a positive stance on Winnipeg’s October sales in comparison to the same month a year ago, Toronto’s October sales declined 21%, Calgary’s 35%, Edmonton’s 29% and Vancouver’s 37%.
For residential-detached sales in October, the most active price ranges were the $150,000 to $199,999 at 25% of total sales and the $200,000 to $249,999 at 23% of all sales. It is interesting to note for the first time in any month, let alone October, residential-detached sales over $500,000 represented the highest percentage they have ever been at 5% of total sales and
were almost the equal of sales under $100,000. Two of those sales over $500,000 were one on Old Orchard Road in East St. Paul for $1,225,000 and another on River Road in St. Vital for $1,485,000.
The average days on market for residential-detached sales was 28 days, one day faster than last month and the same pace as October 2009. As for condominium sales, the average days on market for sales was 31 days, 2 days quicker than last month and October 2009.
Established in 1903, WinnipegREALTORS® is a professional association representing over 1,600 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.




