FEBRUARY MLS ACTIVITY CONFIRMS REAL ESTATE IS LOCAL
Year-to-Date MLS Statistics Up Slightly
There has been an excess of white noice from all media outlets from across the country about real estate activities in the first two months of the year.
We have been bombarded with new highs and lows from Toronto and Calgary and Vancouver . . . . . . but the real story should address what's happening in Winnipeg.
If you want to know the weather, we don't listen to the Toronto radio and TV feeds-we listen to our local experts.
February MLS listing inventory, the number of properties available or sale in Winnipeg, rose 24%, so buyers have more properties to choose from than last February, with the addition of 1,535 properties.
Year to date numbers are still providing more choice for buyers.
The February numbers helped maintained January's quick start, Year to date numbers are still providing more choice for buyers.
I realize that two months doesn't make a market . . . . . or accurately indicate a direction. But earlier this year our experts told us that 2015 looked as if home prices should increase the same 0-2%. Condo prices should increase a little more at 2-4% while dollar volume should increase slightly - around 1-3%.
The most active residential-detached range in February
was from $ 250,000 to $ 299,999 at 22% of the market while the usuall front runner price range of $ 200,000 to $249,999 fell back to second busiest at 17%.
The average days on market for residential-detached sale was 34 days, one day quicker than February 2014.
For condominiums sales activity in February,
the $150,000 to $ 199,999 price range was the most dominant again at 33% of total sales with the $250,000 to $299,999 range capturing 23% of sales.
The average days on market for condominiums in February was 48 days,
which was 4 days slower than February 2014..