April housing stats show a high level of local consumer confidence

WinnipegREALTORS reported over 1300 sales through the MLS, only the second time in April when sales have reached this level, and less than three per cent of the 1,355 sales achieved in 2008.

New listings of over 2,000 are the highest for the month since 1998, while dollar volumn eclipsed $300 million for the first time in April.

It is only the 4th time in WinnipegREALTORS 107 year history that the monthly dollar volume leve of $300 million was reached.

"All indicators show consumer confidence remaind high as sellers and buyers are keen to enter our MLS market in large numbers," said Claud Davis, president of WinnipegREALTORS.  "Helping things along are the spring market when activity always heats up, and there is added motivation this year with higher mortgatge rates on the horizon, if not already creating a stir with small incremental rate increases."

Year-to-date MLS sales are up 12% to 3,626 units over the same period in 2009, while dollar volume continued its record-setting pace with an increase of 23 per cent to $797.0 milion.

Active listings or current inventory is only five per cent off last year's of 3,000-plus MLS listings and further ahead of recent years when inventory was closer to a 2,000-unit total.  Nearly one out of two active listings sold in April.

April 2010 also represented the first time WinnipegREALTORS had an average monthly home sale price of $250,000.

"Despite the welcome influx of new residential-detached listings in April, the brisk sales took a notable dent out of the existing inventory, so going into May there are still just a little over two months supply remining if there were no new listings coming onto the market," added Davis.

Information supplied by WREN, May 21, 2010 issue

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Blog Archives