For the 17th consecutive month, active MLS® listings across the Winnipeg Regional Real Estate Board’s market region showed percentage gains over the previous year. All MLS® sales declined slightly but remained close to last November. MLS® statistics show the average price of residential detached homes and condominiums saw a dip while residential attached homes saw a gain when compared to November of last year.
“While the number of MLS® active listings has fluctuated up and down, percentage increases over the previous year have continued in every month since the market shifted in June of 2022,” said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “Active listings for residential detached homes and condominiums increased over last year while MLS® sales, dollar volume and average prices all saw declines compared to 2022. Residential attached homes, on the other hand, saw increases to active MLS® listings, sales, dollar volume and average prices over last November.”
Active MLS® listings across the Winnipeg Regional Real Estate Board’s market region are up 9% from last November and 7% above the 5-year average while sales for all MLS® property types are 2% below last November, and 16% below the 5-year average. The total dollar volume of MLS® sales in November was a little over $285 million which is 4% below last November and 13% below the 5-year average.
Residential detached homes had MLS® sales of 566 which is down 6% from the 604 last November and 17% down from the 5-year average of 686. Residential detached homes saw active MLS® listings of 1,788 which is up 1% over the 1,771 seen last November and 6% above the 5-year average of 1,683. The average price of $374,394 for a residential detached home decreased 1% over last November’s $378,435 and is up 3% over the 5-year average of $364,732.
Of the 566 residential detached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in November, 379 were in Winnipeg while the remaining 187 occurred outside Winnipeg. Of the 1,788 residential detached active MLS® listings, 880 were in Winnipeg while 908 were outside Winnipeg.
West Kildonan was the neighbourhood in Winnipeg which saw the most residential detached homes sold in November followed closely by Sargent Park. Steinbach was the area outside Winnipeg which saw the most residential detached homes sold in November followed by the Morden/Winkler area. The most active residential detached price range was the $325,000 - $349,999 range with 55 MLS® sales in November representing 10% of residential detached MLS® sales.
“There were 5 residential detached homes sold at $1 million or more in November,” said Prefontaine.
MLS® sales of 120 for condominiums in November were 13% below the 138 seen last year and 17% below the 5-year average of 145. Active MLS® listings of 456 for condominiums were 5% above the 434 seen last November and 15% below the 5-year average of 534. The average price of $245,946 for a condominium in November was 8% below the $266,531 seen last November and statistically even with the 5-year average of $246,378.
Of the 120 total MLS® condominium sales across the Winnipeg Regional Real Estate Board’s market region in November, 99 were in Winnipeg and the remaining 21 occurred outside Winnipeg. Of the 456 active MLS®listings for condominiums, 354 were in Winnipeg and 102 were outside Winnipeg.
The average price for a condominium in November was 8% below last November and statistically equal to the 5-year average.
The Osborne Village area was the neighbourhood in Winnipeg which saw the most MLS® condominium sales in November followed by River Park South. The most active price range for condominiums was the $150,000-174,999 range with 17 sales in November which represents 14% of all MLS® condominium sales.
“November saw the 2nd highest condominium sale of the year in River Park South,” said Prefontaine. “This represents the 3rd condominium sold at or above $1 million in 2023 and matches the total for 2022.”
MLS® sales of 62 for residential attached homes in November were 24% above the 50 seen in November of 2022 and 21% below the 5-year average of 78. Active MLS® listings for residential attached homes of 281 were up 12% over the 251 seen last November and 33% above the 5-year average of 212. The average price of $329,866 for a residential attached home was 4% above the $315,922 seen last November and 8% higher than the 5-year average of $304,174.
Of the 62 total MLS® residential attached home sales across the Winnipeg Regional Real Estate Board’s market region in November, 44 were in Winnipeg and the remaining 18 occurred outside Winnipeg. Of the 281 active MLS® listings for residential attached homes, 168 were in Winnipeg and 113 were outside Winnipeg. The average price for a residential attached home was 4% above last November and 8% higher than the 5-year average.
“As we enter the Holiday Season and family and friends gather, homes take center stage as this is where many memories are made,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “REALTORS® are proud of the roles they play in helping create memories for first time or existing homebuyers. For those looking to buy or sell, licenced professional REALTORS® can be depended on for the tools and know-how to make your real estate transaction run smoothly.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.