MLS® Sales up 2%; MLS® Dollar Volume Rises 6%
WINNIPEG - June 2014 MLS® sales rank third highest on record for this month and have only been eclipsed by 3%
in June 2007 and June 2008.
As a result, year-to-date sales for the first half of 2014 show a slight edge over 2013 at close to 6,500 sales – only 1% off the 10-year average.
Just shy of $416 million, June MLS® dollar volume resulted in the second highest MLS® monthly total ever.
Only last month is higher when $438 million worth of listings was sold on MLS®.
New listings entered in June on MLS® continue to march along on an upward trend in 2014 with a 22% increase over June 2013.
It leaves year-to-date listings placed on MLS® up 13% to 12,052 listings.
There are 1,000 more MLS® listings available going into July than was the case last year at this time.
For the first six months, condominium listings have increased 33% over 2013.
A number of new projects are helping add to the jump in listings this year.
More listings have translated into an 11% rise in condominium sales.Residential-detached listings are up to a lesser extent.
They have risen 12% with sales ahead by 2%.
June MLS® unit sales increased 2% (1,515/1,480) while MLS® dollar volume went up 6% ($415.7 million/$392.4 million) in comparison
to the same month last year. Year-to-date MLS® sales are up less than 1% (6,476/6,431) while MLS® dollar volume has increased less
than 5% ($1.76 billion/ $1.68 billion) in comparison to the same period last year.
One of our better second quarter MLS® results after a slow start to 2014, besides sales activity, June was especially impressive in
the spike in new listings coming on the market.
At the halfway mark in the year, other MLS® property types are mixed in their results.
Single-family attached properties ( side by sides ) have picked up steam this year with a 16% rise in activity over 2013.
They offer more affordability than single family homes or condominiums. Multi-family properties are doing well too with a 17% jump in sales.
On the other hand, vacant lots are well off last year’s sales with a 32% decrease and duplexes are down 27%.
With so many resale properties now available it is safe to assume more buyers are less inclined to buy a lot and build their own home
if they can find an existing home which meets their requirements.
The most active residential-detached price range for sales was the $250,000 to $299,999 one at 25%.
Closest to it were the two price ranges immediately below and above at 18 and 14% respectively.
If you now add in the 12% of sales from $350,000 to $399,999 and another 11% from $150,000 to $199,999,
you capture 80% of total residential-detached sales.
The highest sale price was $1,495,000 and the lowest price being only $35,000 (almost entirely exempt from the provincial land transfer tax).
The busiest condominium price range continues to be from $150,000 to $199,999 at 32%.
However there is a tilt upward with the next two highest price ranges representing 36% of sales activity – evenly split at 18%.
The highest condominium sale price was $715,000.
The average days on market for residential-detached properties was 25 days,
the same pace as last month and 3 days slower than June 2013.
Average days on market for condominiums was 41 days, 11 days off pace set last month and the same result as June 2013.