Offering monthly real estate performance updates through our Real Estate Market Matters column is a valuable service for readers who have a keen interest in tracking trends within our market region. Thanks to our access to MLS® statistics and our adept use of technology, the Winnipeg Regional Real Estate Board is able to provide precise and up-to-date insights into the dynamic real estate market.
It's important to note that your REALTOR® stands as a true authority in the market, well-equipped to guide you through the intricacies of buying and selling properties. Their expertise ensures that you receive accurate and relevant market information, enabling you to make informed decisions with confidence.
Let’s review July MLS® statistics — sales decreased from June, last July and the 5-year average. Active MLS® listings rose from last month, last July and to slightly above the 5-year average.
“The last 3 Julys were the top three Julys on record but when taking the 5-year average of Julys from 2015 to 2019 before the pandemic began, we see July 2023 MLS® sales tracking similarly,” said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “The depleted housing availability seen over the last 3 years has balanced out with gains to active listings that are encouraging to see. A healthy housing inventory that spans all different price ranges is important for a balanced market.”
All MLS® sales in July were 15% below June, 11% below July of 2022 and 14% below the 5-year average. Of note, MLS® sales performance for July were 2% below the 5-year average of Julys from 2015-2019 before the pandemic began. Active MLS® listings, on the other hand, were up 3% from June, 16% up from last July and statistically even with the 5-year average.
Residential detached homes had MLS® sales of 971 which is down 13% from last July’s 1,117 and 14% down from the 5-year average of 1,134. Residential detached homes saw active MLS® listings of 2,257 which is up 11% over last July’s 2,039 and 2% above the 5-year average of 2,202. The average price for a residential detached home rose 2% over last July and is up 9% over the 5-year average.
Of the 971 residential detached MLS® sales across our market region, 623 were in Winnipeg while the remaining 348 occurred in the areas outside of Winnipeg. Of the 2,257 residential detached active MLS®listings, 1062 were in Winnipeg while 1,195 were in the areas outside Winnipeg.
MLS® sales of 202 for condominiums in July were 9% below last July’s 221 and 3% below the 5-year average of 209. Active MLS® listings of 489 for condominiums were up 3% over last July’s 473 and 26% below the 5-year average of 659. The average price for a condominium in July was 6% below July of 2022 and even with the 5-year average.
Of the 202 total MLS® condominium sales across the Winnipeg Regional Real Estate Board’s market region in July, 175 were in Winnipeg and the remaining 27 occurred in the area outside of Winnipeg. Of the 489 active listings for condominiums, 357 were in Winnipeg and 132 were in the areas outside of Winnipeg.
MLS® sales for residential attached homes of 82 in July were 4% lower than last July’s 85 and 18% below the 5-year average of 100. Active MLS® listings for residential attached homes of 284 are up 12% over last July’s 254 and 22% above the 5-year average of 232. The average price for a residential attached home was 1% higher than last July and 8% higher than the 5-year average.
Of the 82 total MLS® residential attached home sales in July, 56 were in Winnipeg and the remaining
26 occurred in the areas outside of Winnipeg. Of the 284 active listings for residential attached homes, 178 were in Winnipeg and 106 were in the areas outside of Winnipeg.
“As we enjoy the warmth of August sunshine, some might be hearing the call of the wild and yearning for some time in Lake Country,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Whether you’re looking to enjoy the tranquility that Lake Country offers, or looking to make your tranquil property available for someone else to rent or purchase, REALTORS® are there to help with every step of the process!”
Check back next week for a mid-summer Lake Country real estate market update for those looking to find a retreat.
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.