For the first time in the history of monthly MLS® sales, the Winnipeg Regional Real Estate Board’s April sales tipped over 2,000 in number. The 2,055 sales in April edged out last month’s sales of 1,975 and are up 53% over the 5-year average for this month. Dollar volume continues to rise with $678.3 million transacted in sales, which is a 65% rise over this month’s 5 year average.
The 2,615 listings remaining at month end are down 41% from the same time last year despite a dramatic fall off in new listings entered in April 2020 due to the pandemic economic shutdown. The good news is that year-to-date cumulative listings of 8,066 represent a 10% increase over 2020 and are less than 1% behind those entered in 2019. In other words, we have more supply than last year… but as you can see in the next statement, supply is moving even quicker than last year.
In April, 78% of active MLS® listing supply turned over — and for single-family homes it was an astounding 131% — leaving less than a month’s listing supply going into May. This is a record saturation rate.
Our average days on the market for single family homes (RD) was 3 weeks, and for houses $350k-$399k, they were just 2 weeks. That is fast! Remember, this does not mean all homes will sell right away and for more than you were expecting! It is important to set realistic expectations in your house search, and prepare your house for sale in the best way possible.
Let’s meet in person (or on video) to discuss your 2021 real estate goals. Housing is still essential. See you soon. Stay safe and get outside as much as you can!