By Jeremy Davis
March and the first quarter totals saw increases to MLS® sales and dollar volume when compared to the same periods last year. Average prices for residential detached, condominium and residential attached homes saw a similar real estate market performance with increases over last year for March and through the first quarter.
“The end of March marked the end of the first quarter of 2024 and there were positive real estate market trends seen with MLS® sales, average prices and dollar volume,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “The real estate market performance saw increases to MLS® sales and dollar volume each month from January to March with March and the first quarter totals also up when compared to the same periods last year. When looking at average prices for residential detached, condominium and residential
attached homes in March and in the first quarter of 2024, all were up over last year.”
MLS® sales for all MLS® property types across the Winnipeg Regional Real Estate Board’s market region are up 11% over last March, and 15% below the 5-year average. Active MLS® listings for all MLS® property types are up 1% from last March and 7% above the 5-year average. The total dollar volume of MLS® sales in March was over $420 million which is 21% above last March and 9% below the 5-year average.
Residential detached homes had MLS® sales of 745 which is up 7% from the 695 last March and 17% down from the 5-year average of 900. Residential detached homes saw active MLS® listings of 1,524 which is down 5% over the 1,612 seen last March and 3% above the 5-year average of 1,483. The average price of $418,748 for a residential detached home rose 8% from over last March’s $386,757, and is up 7% over the 5-year average of $391,422.
Of the 745 residential detached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in March, 505 were in Winnipeg while the remaining 240 occurred outside Winnipeg. Of the 1,524 residential detached active MLS® listings, 673 were in Winnipeg while 851 were outside Winnipeg.
Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold in March followed by Island Lakes/Royalwood. The Steinbach area saw the most residential detached homes sold outside Winnipeg in March followed by the
Morden/Winkler area. The most active residential detached price range was the $550,000-$599,999 range with 64 MLS® sales in March representing 9% of all residential detached MLS® sales. There were four residential detached homes sold for over $1 million in March, with the highest priced at $1.25 million.
MLS® sales of 187 for condominiums in March were 26% above the 148 seen last March and 5% below the 5-year average of 196. Active MLS® listings of 409 for condominiums were 8% below the 443 seen last March and 18% below the 5-year average of 497. The average price of $273,676 for a condominium in March was 12% above last March’s $244,119, and 8% above the 5-year average of $253,216.
Of the 187 total MLS® condominium sales across the Winnipeg Regional Real Estate Board’s market region in March, 160 were within Winnipeg and the remaining 27 occurred outside Winnipeg. Of the 409 active MLS® condominium listings, 301 were in Winnipeg and 108 were outside Winnipeg.
For the fifth consecutive month, Osborne Village was the neighbourhood in Winnipeg which saw the most MLS® condominium sales in March followed by Waverley West and St. Vital. The most active price range for condominiums was the $150,000-$174,999 range with 28 sales in March which represents 15% of all MLS® condominium sales. A condominium in St. Charles was the first in 2024 which sold for over $1 million.
MLS® sales of 84 for residential attached homes in March were 15% above the 73 seen in March of 2023 and 16% below the 5-year average of 100. Active MLS® listings for residential attached homes of 245 were statistically even with the 244 seen last March and 33% above the 5-year average of 185. The average price of $373,316 for a residential attached home was 14% above the $326,929 seen last March and 15% higher than the 5-year average
of $325,350.
Of the 84 total MLS® residential attached home sales across the Winnipeg Regional Real Estate Board’s market region in March, 66 were in Winnipeg and the remaining 18 occurred outside Winnipeg. Of the 245 active MLS® listings for residential attached homes, 146 were in Winnipeg and 99 were outside Winnipeg.
“As the weather begins to warm, the spring market season is around the corner and many in our market region will be looking to enter the real estate market,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Whether you’re curious about real estate market trends, pricing, home renovations, or popular neighbourhoods, a REALTOR® will have expert advice to share, along with a network of professionals who can help. For help finding a REALTOR®, MLS® listings and open houses, and a host of real estate market resources, please visit www.winnipegregionalrealestatenews.com.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.