Its all good news!

Winnipeg’s resale-homes market rebounded in December, with sales returning to more normal levels after two consecutive months of sharp declines.
A total of 504 properties sold last month through the Winnipeg REALTORS Association’s Multiple Listing Service (MLS), according to new figures released today.
While that was a three per cent reduction from December 2007’s record-setting total of 522 unit sales, it still compares favourably with other Decembers and was a huge improvement over November’s 25 per cent drop and October’s 18 per cent decline.
And despite fewer properties being sold, last month was still the second best December on record for dollar volume of sales. The association said last month’s tally of $91.8 million was second only to December 2006’s $94.7 million.
The strong finish enabled the WRA to establish another new annual record for dollar volume of sales in a single year, at $2.4 billion.
That was a nine-per-cent improvement from 2007’s total of $2.23 billion. It also marked the second consecutive year that sales eclipsed the $2-billion mark, and the seventh consecutive year that they surpassed the $1-billion level.
In terms of unit sales, the slowdown in sales activity in the fourth quarter prevented the association from topping 2007’s record-setting total of 13,079 properties. A total of 12,630 properties changed hands in 2008, which was a three per cent decline from 2007’s total.

Buchanan Blvd

Winnipeg to buck national decline in home prices

Winnipeg’s resilient resale-homes market is expected to buck a national trend with a modest increase in average selling prices this year, according to the latest house prices forecast from Royal LePage Real Estate Services.The real estate firm predicts Winnipeg’s average selling price will climb by four per cent to $204,900 from a projected $197,000 in 2008. Canada’s average selling price, on the other hand, is expected to fall by three per cent to $295,000 from a projected $304,000.Royal Lepage also predicts Winnipeg will see one of the smallest declines in unit sales among the country’s nine major cities. It says sales here are expected to fall by one per cent to 11,780 homes from 11,900 in 2008.That compares to a projected national decline of 3.5 per cent (416,000 compared to 431,000).“Looking ahead, the economic future looks bright for Winnipeg,” says John Froese, a broker with Royal LePage Prime Real Estate in Winnipeg.“As employment rates and population figures increase, consumer confidence is expected to rebound from where it was in the last quarter of 2008,” Froese added. “In turn, Winnipeg’s real estate market is anticipated to spring upwards as well