Currently in Winnipeg there is beginning to be widening gap between sales and listings which provides more inventory and choice for buyers. So it appears that the market is beginning to level off. It will be interesting to see what the summer and fall brings for the Winnipeg market.
The most active price ranges were for residential-detached sales:
23% of sales in $200,000 - $249,999
19% of sales in $150,000 - $199,999
14% of sales in $250,000 - $299,999
The average days on market for sales of residential-detached listings was 21 days.
For homes in the $150,000 to $250,000 was 17 days on the market.
The shift to higher price points including the fact there were 43 residential-detached sales over $500,000 this May compared to only 18 in May 2009 helps explain why May 2010 reached the highest monthly dollar volume level on record. It also helped that the average condominium monthly sale price has for the first time on record surpassed the $200,000 mark. In April and May 2010, the average condominium price was $202,000 and $208,000 respectively.
The over 8,000 listings entered on the MLS® this year are up 8% from 2009 and the highest amount in 11 years.
Stay tuned for what the June stats report to see if things continue to level out.