Wednesday, January 7, 2009

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.

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