By Jeremy Davis
May saw increases to All MLS® sales and dollar volume when compared to last year and the 5-year averages. All three of the main property types of residential detached, condominium, and residential attached homes saw increases to MLS® sales, dollar volume and average prices over last year and the 5-year averages. Active listings for residential detached, condominium, and residential attached homes were at or below last year, and with only condominiums falling below the 5-year average.
“The upward trend seen last month has continued with the second best May on record in terms of MLS® sales and a second consecutive month when MLS® sales have outpaced the 5-year average,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “This is noteworthy because the best May on record in 2021 and the third best May on record in 2022 are included in the results of the last five years, and this underscores the strength of this May’s real estate market performance. For the sixth consecutive month, residential detached, condominiums, and residential attached homes all saw increases in average prices over last year and the 5-year averages.”
MLS® sales for all MLS® property types across the Winnipeg Regional Real Estate Board’s market region are up 14% over last May, and 4% above the 5-year average. Active MLS® listings for all MLS® property types are up 1% from last May and 12% above the 5-year average. The total dollar volume of MLS® sales in May was over $663 million which is 18% above last May and 10% above the 5-year average.
Residential detached homes had MLS® sales of 1,189 which is up 12% from the 1,064 last May and 1% above the 5-year average of 1,172. Residential detached homes saw active MLS® listings of 1,985 which is down 3% from the 2,042 seen last May and 11% above the 5-year average of 1,789. The average price of $425,380 for a residential detached home rose 4% over last May’s $408,119 and is up 6% over the 5-year average of $400,728.
Of the 1,189 residential detached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in May, 781 were in Winnipeg while the remaining 408 occurred outside Winnipeg. Of the 1,985 residential detached active MLS® listings, 875 were in Winnipeg while 1,110 were outside Winnipeg.
For the third consecutive month, Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold, and for the second consecutive month, it was followed by Crestview. The Morden/Winkler area narrowly beat out the Steinbach area for the most residential detached homes sold outside Winnipeg in May, followed by the Gimli area. Activity in the price range categories were more evenly distributed in May, with the $325,000-$349,999 price range as the most active with 88 MLS® sales representing 7.4% of all MLS® sales. The second most active price ranges were the $350,000-$374,999 and $425,000-$449,999 price ranges with each seeing 87 MLS® sales, representing 7.3% of all residential detached MLS® sales, respectively. There were 18 residential detached homes sold for over $1 million in May, with the highest priced at over $3.5 million. May 2023 had 9 residential detached homes sold for over $1 million, with the highest priced at just over $1.5 million.
MLS® sales of 279 for condominiums in May were 25% above the 223 seen last May and 19% above the 5-year average of 234. Active MLS® listings of 467 for condominiums were 11% below the 525 seen last May and 15% below the 5-year average of 547. The average price of $277,308 for a condominium in May was 4% above last May’s $266,845 and 8% above the 5-year average of $257,908.
Of the 279 total MLS® condominium sales across the Winnipeg Regional Real Estate Board’s market region in May, 230 were within Winnipeg and the remaining 49 occurred outside Winnipeg. Of the 467 active MLS® condominium listings, 368 were in Winnipeg and 99 were outside Winnipeg.
Osborne Village was with neighbourhood in Winnipeg which saw the most MLS® condominium sales in May followed by Linden Woods. The most active price range for condominiums was the $200,000-$224,999 range with 27 sales in May which represents 12% of all MLS® condominium sales. The $150,000-$174,999 range was the second most active price range with 25 sales in May, representing 11% of all MLS® condominium sales.
MLS® sales of 123 for residential attached homes in May were 10% above the 112 seen in May of 2023 and 4% above the 5-year average of 118. Active MLS® listings for residential attached homes of 266 were even with last May and 26% above the 5-year average of 211. The average price of $365,346 for a residential attached home was 10% above the $333,630 seen last May and 13% higher than the 5-year average of $322,598.
Of the 123 total MLS® residential attached home sales across the Winnipeg Regional Real Estate Board’s market region in May, 82 were in Winnipeg and the remaining 41 occurred outside Winnipeg. Of the 266 active MLS® listings for residential attached homes, 164 were in Winnipeg and 102 were outside Winnipeg.
“In the midst of a fast-moving real estate market during our market regions’ busiest season, REALTORS® have the tools to offer peace of mind to buyers and sellers looking to make sense of current market conditions,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “One of the many benefits of using a REALTOR® is gaining access to their ability to analyze real estate market data, trends and analytics. When combining the results of these factors, REALTORS® can offer prospective buyers and sellers expert advice on what they can expect for pricing on their next real estate transaction.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.