February Leaps Ahead of the Rest
Good Start to January 2016 !
Whether an extra day in February paved the way for a record month is debatable, as the best previous high for this month was 797 in 2007 and there were only 28 days to reach that level.
In Terms of Inventory:
Listings entered on the MLS for the first two months have increased nearly 6%.New Listings coming on to the market were up double-digits as well however the stronger conversion of listings to sales kept the overall inventory close to where it was a year ago.
Rural Sales are Gaining:
One noticeable trend which emerged in the last few years is rural sales are gaining at the expense of the City of Winnipeg. One out of every four MLS home sales in 2015 were in the outlying rural municipalities.
February 2016 was no exception as 28% of all home sales were in outlying rural municipalities.
Buyers have Greater Choice:
New Listings coming onto the market in February vaulted ahead by 14% leaving an inventory of over 3,700 MLS Listings at the end of February, only 2% more than last year at this time.
Buyers can again exercise more due dillegence by vieweing more properties and making offers conditional on financing and home inspections than in the height of the market where demand was always exceeding supply.