WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, NOVEMBER 7, 2023
WINNIPEG, November 7, 2023 – October saw steady gains in All MLS® total sales, listings, average prices, and dollar volume when compared to October of 2022. This marked the first October which saw All MLS® sales increase over the previous year since the record setting October of 2020.
“While our market region is sprinkled with snow as we begin the last quarter of 2023, it is uplifting to see so many increases over last October," said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “Not only were All MLS® total sales up but MLS® sales for residential detached homes were up 5% while condominium sales were up almost 20% over last October. Average prices declined slightly for condominiums and residential attached homes but for the fourth consecutive month, average prices rose for residential detached homes when compared to last year."
All MLS® sales in October were 7% higher than the last October, and 12% below the 5-year average. Active MLS® listings were up 10% from last October and 5% above the 5-year average. The total dollar volume of MLS® sales in October was a little over $397 million which is 9% higher than last October and 7% below the 5-year average.
Of the 776 residential detached MLS® sales across our market region in October, 531 were in Winnipeg while the remaining 245 occurred outside Winnipeg. Of the 2,035 residential detached active MLS® listings, 1,031 were in Winnipeg while 1,004 were outside Winnipeg.
The average price for a residential detached home rose 6% over last October and is up 9% over the 5-year average.
Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold in October followed closely by River Heights. Morden/Winkler was the area outside Winnipeg which saw the most residential detached homes sold in October followed by the Steinbach area. The most active residential detached price range was the $375,000-399,999 range with 62 MLS® sales in October representing 8% of residential detached MLS® sales.
Of the 173 total MLS® condominium sales across the Winnipeg Regional Real Estate Board's market region in October, 147 were in Winnipeg and the remaining 26 occurred outside Winnipeg. Of the 479 active MLS® listings for condominiums, 373 were in Winnipeg and 106 were outside Winnipeg.
The average price for a condominium in October was 1% below last October and 4% above the 5-year average.
Downtown was with neighbourhood in Winnipeg which saw the most MLS® condominium sales in October followed by River Heights and Osborne Village. The most active price range for condominiums was the $150,000-174,999 range with 30 sales in October which represents 17% of all MLS® condominium sales.
Of the 72 total MLS® residential attached home sales in October, 51 were in Winnipeg and the remaining 21 occurred outside Winnipeg. Of the 277 active MLS® listings for residential attached homes, 170 were in Winnipeg and 107 were outside Winnipeg. The average price for a residential attached home was 1% below last October and 6% higher than the 5-year average.
“On behalf of buyers, sellers and REALTORS®, the Winnipeg Regional Real Estate Board places a high priority on advocating to all levels of government on issues that impact the development of housing and real estate," said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Recently, real estate boards, associations, and REALTORS® from across Canada gathered in Ottawa for the Canadian Real Estate Associations Annual Political Action Committee conference to advocate to federal Members of Parliament on the current housing crisis. With expert knowledge on market conditions and consumer interests, REALTORS® continue to make formidable contributions to the discussions on housing policy, increasing housing supply, and affordability, which are top of mind for Canadians from coast to coast to coast."
All MLS® refers to the combined total of all MLS® property types which includes commercial, condominium, duplex, mobile home, residential detached, rural, residential attached, townhouse, vacant land, and vacant land with building.
Active MLS® Listings refer to the total number of homes still available on the market at the end of a given month. This is also referred to as 'inventory'.