Stats for January 2011...

Here is a quick compilation of the stats for January 2011:

There were more listings this January compared to last January.  More listings on the market means more choice to buyers. 

For residential-detached homes, the higher than list price sales decreased from 35% to 31%.  

The most active residential-detached price ranges this month were the $150,000 to $199,999 and the $200,000 to 249,999 with each at 18 % of total sales.  

Sales in the $250,000 to $299,999 was not far behind with 15% market share.

There has also been a notable increase of sales in the $350,000 to $399.999 price range. This January there were 34 sales compared to only 15 in January 2010.

Sales under $100,000 are continuing to decline.

January included two million dollar plus home sales with one home selling for over $1.7 million.

The average days on market to sell a home was 42 day, 9 days slower than the previous month and 10 days off the pace set in January 2010.

The average days on market to sell a condominium was 38 days, 12 days slower than the previous month but 9 days quicker than January 2010.

click on image to enlarge

Of course, these stats are "overall" in nature and there are still a number of areas and highly sought after price ranges where existing inventory and new listings are being depleted quickly so while system-wide statistics show more balance, it by no means applies in all instances.  You need to speak  to a REALTOR® to seek professional advice and counsel on what is happening with respect to your preferred MLS property type, neighbourhood, price range and supply. It will be interesting to see continuing improvement in the supply of listings to help moderate large price increases due to the strong demand for resale homes as a result of immigration and scarcity of good rental options in Winnipeg.

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~Ciao