Chris Dudeck

Cell: 204-293-3399 |

Multiple Listing Service® (MLS®) Sales Cool Off in January


WINNIPEG – MLS® sales of 690 in January 2022 fell back 25% from last month and decreased 26% from January 2021. Though based on the 5-year average for the coldest and slowest selling month of the year, January 2022 was only down 3% over the 5-year average as last year was exceptional in generating significantly more sales than what you normally see transpire at the beginning of the year.

A major impediment to realizing more sales in January was the limited supply of listing inventory. While not a new development in 2022, it was more pronounced with MLS® listings from 2021 down 26% from 2020 heading into this year.

Where the lack of listing inventory was most impactful was on single-family homes with only 635 listings available at the end of December 2021 compared to 925 in December 2020 and 1,884 in December 2019. Not helping the situation in January was the fact that new single-family listings entered on the market decreased 31% from 2021.​

“The Winnipeg Regional Real Estate Board has to go all the way back to 2008 when it found itself with such a depleted supply of listings on hand to meet buyer demand in our regional market," said Winnipeg Regional Real Estate Board 2022 president Akash Bedi. “Limited supply curtailed sales and this was most apparent in single-family where they were way off previous year's activity."

Tight supply conditions — with much less choice and fewer listings to purchase — led to higher prices as MLS® dollar volume slipped back 10 percentage points below the 26% sales drop in January 2022.

The most obvious result of this constrained market was in the single-family homes property type, with fierce competition for these listings leading to a much higher monthly single-family average sales price. For the first time in WRREB's history, this monthly average sales price reached and eclipsed the $400,000 threshold to finish at $401,216. In comparison, it was $352,185 in January 2021.