February 2023 Regional MLS® Inventory Building for Spring Market
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Winnipeg Market Information
February 2023 Regional MLS® Inventory Building for Spring Market
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Winnipeg Market Information
WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, MARCH 8, 2023WINNIPEG, March 8, 2023 - MLS® inventory in February was higher than the previous pandemic Februarys of 2021 and 2022, while MLS® sales were lower than the record Februarys of the same timeframe. Notably, this February is the eighth consecutive month that inventory was higher than the same month in the previous year after inventory started to rebound in June of 2022.“As we saw last month, housing inventory continues to improve from the lows experienced in 2021 and the first half of 2022, offering more options for prospective buyers," said Akash Bedi, 2022-2023 president of the Winnipeg Regional Real Estate Board. “While February sales were lower than the peaks experienced during 2021 and the first half of 2022, they are in line with those from the Februarys of 2018 and 2019."MLS® inventory of 3,045 in our market region is 67% above last February's 1,822 and only 1% below the 5-year average...Winnipeg Regional Real Estate Market Balances Out For More Choice
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, FEBRUARY 8, 2023Winnipeg, February 8, 2023 - As we enter 2023, all MLS® inventory is much higher when compared to the start of 2022, signaling a continued replenishment of housing choices. At the same time, all MLS® sales are below what they've been for most of the pandemic but more in line with pre-pandemic January results.Winnipeg Regional Real Estate Board's MLS® January 2023 data marks the seventh consecutive month that the percentage increase in active listings has grown over the same month from last year. As an example, over the last 3 months, November's active listings were 53% higher than the previous November and December was 55% higher than the previous December. The active listings for January 2023 are 69% higher than last January.“Last January was a continuation of a trend seen throughout the pandemic of high demand which translated into high MLS® sales and low inventory,"...Strong Finish Despite Slowing Second Half of 2022 MLS® Sales
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, JANUARY 11, 2023WINNIPEG, January 11, 2023 - Slowing 2022 MLS® sales that began in summer continued through December, transitioning the Winnipeg Regional Real Estate Board market region back to a balanced market.The total number of MLS® sales in 2022 was the third highest on record at 14,660, behind only 2021's record-setting 18,575 and 2020's 16,033. To add perspective, the last pre-pandemic year of 2019 had 13,662 sales. The total MLS® dollar volume of all sales for 2022 was the second highest on record at $5.4 billion. Total MLS® dollar volume was increasing every year from 2018 until 2021 put an exclamation point on it. Until 2021, the total MLS® dollar volume had not eclipsed $5 billion in any other year, but 2021 saw a record of $6.3 billion in total sales.“Despite slowing MLS® sales, the strong sales in the first half ultimately carried 2022 to the third highest MLS® total sales...Local Real Estate Market Transitioning Toward Market Stabilization
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, DECEMBER 5, 2022WINNIPEG, December 5, 2022 – A boost in November's year-over-year inventory combined with slowing month-over-month sales have Winnipeg and its regional market performance transitioning toward balanced market stabilization.While some small remnants of a seller's market remain, the continuation of October's slowing MLS® sales into November show a market that is trending more in line with the normal seasonal changes seen before the record years of 2020 and 2021.Total November sales of 870 in our market region are down 30% from last November's 1,244 and down 14% over the 5-year average of 1015. It should be noted that with the record year experienced in 2021 as a result of the pandemic, some perspective can be applied with this November's sales down only 4% from the 902 sales of the last pre-pandemic year of 2019.Active November listings of 3,455 are up 53% over last November's...MLS® Sales Activity Falling More In Line with Pre-Pandemic Levels
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, NOVEMBER 9, 2022WINNIPEG, November 8, 2022 - A slowing MLS® sales trend took root in October 2022 with sales down from October 2021.Beyond the well-documented boom in MLS® sales activity that took place in 2020 and 2021 with buyers advancing their plans to take advantage of historic low interest rates and make moves induced by a pandemic which ignited many Canadians to change their living arrangements, 2022 October sales were impacted by cost of living concerns combined with a rapid rising interest rate environment which saw the Bank of Canada increase its overnight lending rate from 0.25% in March to 3.75% in October 2022.To reference MLS® activity in the past 2 years, October MLS® sales of 1,063 decreased 30% from October 2021 and 33% from the record-setting October in 2020. Before the onset of the pandemic in 2020, the 5-year average for October was 1,105 sales indicating sales this same month...Slower September MLS® Sales Move Market Towards Balance
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, October 6, 2022WINNIPEG, October 6, 2022 - September 2022 sales are no match for the last two exceptionally active Septembers as sales decreased 20% and 32% from 2021 and 2020 respectively. The 1,205 MLS® sales transacted this September are much more aligned with the most immediate prepandemic year of 2019 which had 1,211 sales.While sales decreased 11% over the 5-year average, new listings coming onto the market in September are up 12% from last year and only down 1% over the 5-year average, so the combination of fewer sales and more listings is helping restore balance to a local market that had been well entrenched in sellers' market territory earlier in the year. As a result, active listings — or current inventory of 3,897 at month-end — is up 37%.“September is a continuation of the progression in the third quarter of our market region, transitioning out of a sellers' market to one...August MLS® Sales of 1,375 Drop From July 2022 and Previous August Months
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, September 9, 2022WINNIPEG, September 8, 2022 - August MLS® sales activity showed a drop off from July and previous August months in the last few years. Sales of 1,375 are down 15% from August 2021 and 9% over the 5-year average. Year-to-date MLS® sales of 10,962 decreased 18% from the same period in 2021 but are up 2% over the 5-year average.On the other hand, new listings in August are up 2% compared to August of last year, and in line with the 5-year average which had 2,249 listings, slightly higher than the 2,201 entered this August.Where we are seeing a more pronounced difference is in end-of-month active listings or inventory, as there are 3,764 available listings — a 28% increase over August 2021.“We have seen improvement in our market region's inventory compared to the beginning of the year, as MLS® listings entered for the first 8 months are down less than 6% compared to last year and well ahead of...July 2022 MLS® Shows Moderation in Detached-Home Prices
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WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, AUGUST 9, 2022WINNIPEG, August 9, 2022 – July was a clear departure from previous months in indicating single-family home pricing peaked in May. This is the case now, with 3,700 active listings available at the end of July compared to half that amount in the first four months of 2022.New MLS® listings of 2,359 entered in July are an increase of 9% over July 2021. Strong listing activity since May has reduced the 25% first quarter deficit in listings entered compared to last year to under 7% for the first 7 months.“We are seeing once very tight market conditions loosening up in the second half of 2022,” said Akash Bedi, 2022 president of the Winnipeg Regional Real Estate Board. “Above list price sales for both single-family homes and condominiums are trending down from what they were earlier in the year. July single-family percentages of above list price versus below list price sales are the reverse...June Market Delivers Strong Result at Just Under 1,800 MLS® Sales
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![]() WINNIPEG REGIONAL REAL ESTATE BOARD PRESS RELEASE, JUNE 9, 2022Winnipeg, July 8, 2022 - June is the fourth consecutive month with increased MLS® sales in a year where the spring market has seen a delay when comparing the same months in previous years.The 1,797 sales transacted in June 2022 decreased 7% and 5% respectively from the two previous years and are up 3% over the 5-year average for this month. New listings of 2,867 increased 21% over June 2021 and are up 9% over the 5-year average. The strong uptick in June listings leaves a month-end inventory of 3,477 listings, a 25% jump over the same month last year.“Listings came on strong in June and are having a positive impact on loosening up what has been a supply-challenged market," said Akash Bedi, 2022 president of the Winnipeg Regional Real Estate Board. “More choice and options for buyers settled down in what has been a rising price environment where the single-family home average sales price in June fell...May Finishes Strong with More Sales, Listings and Dollar Volume
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