In a trend that has continued since the start of 2023, the number of MLS® sales has continued to rise but not to the same levels seen last April or over the 5-year average. MLS® sales were down when compared to last year and the 5-year average while the number of active MLS® listings continued to rise, with increases over last month, last year and the 5-year average.
Total April MLS® sales of 1,103 are down 24% from last April’s 1,454 and down 17% over the 5-year average of 1,334. Active MLS® listings of 3,584 in our market region are 70% above last April’s 2,112 and 1% above the 5-year average of 3,548. MLS® sales in April were 90% higher than January, 68% higher than February and 9% higher than March. Active MLS® listings in April were 28% higher than January, 18% higher than February and 6% higher than March.
Of the 1,103 MLS® sales across our market region, 729 were in Winnipeg with 374 in the rural areas outside Winnipeg, and of the 3,584 active MLS® listings in April, 1,600 were in Winnipeg while 1,984 were in the rural areas outside Winnipeg.
“Between inflation and interest rate uncertainty, there is a lot going on within the real estate industry right now. Notwithstanding short-term market fluctuations, however, the belief is that the outlook in our local market region is favourable,” said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “Residential resale for this April was below the peak MLS® sales seen in 2021 and 2022, and 9% below April 2019. While April’s MLS® sales were neutral, it is positive to see trends of continued monthly growth in MLS® sales and active listings since the start of 2023.”
Residential detached homes had MLS® sales of 763 which is down 25% from last April’s 1,016 and 19% down from the 5-year average of 947. Residential detached homes saw active MLS® listings of 1,761 which is up 84% over last April’s 956 and 1% above the 5-year average of 1,748. The average price of a residential detached home in April was $409,286 which is 9% below last April’s $447,295 but 8% above the 5-year average of $380,501.
Of the 763 residential detached MLS® sales across our market region, 508 were in Winnipeg while the remaining 255 occurred in the rural areas outside Winnipeg. Of the 1,761 residential detached active MLS® listings, 822 were in Winnipeg while 939 were in the rural areas outside Winnipeg.
Residential detached homes made up 69% of all MLS® home sales in April. Southwest Winnipeg had the most sales within the city, representing 30% of all Winnipeg residential detached home sales. The rural area outside Winnipeg represented 30% of all MLS® residential detached home sales.
MLS® sales of 171 for condominiums in April were 24% lower than last April’s 224 and 5% below the 5-year average of 180. Active MLS® listings of 484 for condominiums are up 42% over last April’s 341 and 19% below the 5-year average of 598. The average price of a condominium in April was $258,571 which is 1% below last April’s $261,802 and 3% higher than the 5-year average of $251,241.
Of the 171 total MLS® condominium sales across our market region in April, 142 were in Winnipeg and the remaining 29 occurred in the rural area outside Winnipeg. Of the 484 active listings for condominiums, 357 were in Winnipeg and 127 were in the rural area outside Winnipeg.
MLS® sales for residential attached homes of 79 in April were 28% lower than last April’s 109 and 11% below the 5-year average of 89. Active MLS® listings for residential attached homes of 252 are up 107% over last April’s 122 and 39% above the 5-year average of 182. The average price of a residential attached home in April was $326,995 which is 12% below last April’s $370,604 and 6% above the 5-year average of $308,526.
Of the 79 total MLS® residential attached home sales across our market region in April, 53 were in Winnipeg and the remaining 26 occurred in the rural area outside Winnipeg. Of the 252 active listings for residential attached homes, 152 were in Winnipeg and 100 were in the rural area outside Winnipeg.
“Utilizing the power of the MLS® marketing system gives REALTORS® a unique advantage in helping clients with their home buying or selling journey,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “The MLS® is a co-operative real estate selling system that employs high-impact data analytics and is operated by the Winnipeg Regional Real Estate Board. While there are many more benefits of using a REALTOR®, the MLS® is certainly one of the greatest advantages REALTORS® offer.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.