Chris Dudeck

Cell: 204-293-3399 |

2020 Real Estate Review - A Deeper Dive

I provided the full WinnipegREALTORS® January Press Release in my previous post. The full report can be viewed here, but here are some of the highlights and a deeper dive into the 2020 sales results for the City of Winnipeg, separate from the rest of the metro region

Let's start with the entire metro region:  Total December 2020 MLS® sales of 970 were up 43.9% over December 2019. And total MLS® sales for 2020, all property types, was 16,033, up 17.40% from 2019!

Drilling down a bit deeper in terms of property type:

- Single family home sales on MLS® in December were up 31.9%, and for the year up 16.9%.

- Condominium sales on MLS® in December were up 62.0%, and for the year up 5.5%.

Total listings on MLS® at the end of December for the metro region was 2,316, 37.8% less than at this same time last year.

If we look at Winnipeg only, inventory on MLS® for residential homes (single family homes, SxS’s, town homes, etc.) at the end of December was 487, down 53.7% from December 2019.  Condominium inventory in Winnipeg at the end of November was 349, down 17.1% from this same time last year. 

Despite lower inventory in the City of Winnipeg, the residential market produced record breaking sales numbers in 2020.

- Residential sales in Winnipeg during December were 462, up 29.8% over 2019 and up 43.0% over 2018.

- For 2020, total residential sales in Winnipeg were up 10.0% over 2019 and up 13.0% over 2018. Once again, wow !!

A consistent lower level of available homes for sale, combined with strong buyer demand, has created seller’s market conditions throughout most Winnipeg neighborhoods.  This has resulted in price increases and in many cases, sales above the asking price.    

The condominium market in Winnipeg was a bit slower to move back to more normal sales numbers, but as the year ended, condominium sales also surpassed previous years’ totals.

- Condominium sales in Winnipeg during December were very healthy at 96, up 54.8% over 2019 and up 43.3% over 2018.

- At the end of December, year to date condominium sales were up 4.5% over 2019 and up 7.5% over 2018. 

As always, I want to highlight that real estate is very local, and market trends vary significantly from neighborhood to neighborhood and with different property types. 

If you would like more information about the market conditions in your neighborhood, or a proper strategy to navigate the market in 2021, please do not hesitate to contact me for guidance and advice as it pertains to your individual real estate needs.

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