Stats for February 2011...

 Here is a quick compilation of stats for February 2011:

• 1313 new listings were added to our inventory this month...added to the already existing inventory resulted in 2,450 properties available for sale.  That is 16% more than last year's inventory.  

• Since the beginning of the year, there has been 1,347 sales, up`12%  from last year.

• Dollar volume is already at $296 million - up 17% from last year's two month activity. 

• Back in January, forecasters were predicting home prices will increase an average of 7% (7-9 %  for residential detached homes and 6-8% for condos) and it is still pretty early to say, but with all those sales and homes values escalating, our year to date numbers for January and February 2011 seems to be an early confirmation of what our analysts predicted.

Stats exclusive to Residential Detached homes were as follows:

• 20% were under $150,000.

• 22% were above 300,000.

• 58% were selling between $150,000 and $300,000.

• Average "Days on Market" dropped to 26 days (3 days less than February 2010).

• Highest priced property was $880,000.

• Lowest priced property was $25,000.

click on image to enlarge photo

Stats exclusive to the condo market were as follows:

• There were 96 sales this month.

• 20% were under $150,000

• 18% were over $250,000

• 16% were between $150,00 and $250,000.

• Average "Days on Market" was 24 days.  (5 days less than February 2010).

• Highest priced condo sale was $383,000.

• Lowest priced condo sale was $72,000.

 The recently released discussion paper on Manitoba's Rental Housing Shortage (this study is available at http://www.winnipegrealtors.ca/, click on "Resources", then under "documents" click on "Position Papers") identifies that the absence of an active rental market can do nothing but continue to ensure that housing demand will outstrip housing supply and positive numbers for sales, dollar volume and average sale price will continue to climb.  

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~Ciao