By Jeremy Davis
The first-half real estate market results for 2024 saw increases to All MLS® sales, listings and dollar volume when compared to last year. All three of the main property types of residential detached, condominium, and residential attached homes saw increases to MLS® sales, listings, dollar volume and average prices over last year. Decreases seen against the 5-year averages came for All MLS®, residential detached and residential attached home sales, and the number of listings for residential detached and condominiums.
The first-half real estate market results for 2024 across the Winnipeg Regional Real Estate Board’s market region saw All MLS® sales of 7,288 up 13% over 2023. MLS® listings of 12,399 were up 4% while dollar volume of $2.8B was up 20% over 2023. First-half 2024 residential detached MLS® sales of 4,979 were up 11% and the average price of $424,193 was up 6% when compared to last June. First-half 2024 condominium MLS® sales of 1,119 were up 13% and the average price of $277,252 was up 9% over last June while residential attached MLS® sales of 522 were up 15% and the average price of $365,719 up 9% over last year.
“The first-half MLS® sales and dollar volume results for 2024 represent the 3rd best market performance on record with the 2nd best in 2022 and the best in 2021,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “Average prices continued to increase for residential detached, condominiums, and residential attached homes in June and for the first half when compared to last year and the 5-year averages.”
June MLS® sales of 1,585 for all MLS® property types across the Winnipeg Regional Real Estate Board’s market region were down 1% over last June, and 10% below the 5-year average. Active MLS® listings of 4,119 for all MLS® property types were down 1% from last June but 7% above the 5-year average. The total dollar volume of MLS® sales in June was over $624 million which is 5% above last June and 2% below the 5-year average.
Residential detached homes in June had MLS® sales of 1,128 which is statistically even with the 1,129 seen last June and 12% below the 5-year average of 1,277. Residential detached homes saw active MLS® listings of 1,994 which is down 8% from the 2,174 seen last June and 4% above the 5-year average of 1,911. The average price of $437,367 for a residential detached home rose 5% over last June’s $418,185 and is up 8% over the 5-year average of $403,594.
Of the 1,128 residential detached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in June, 737 were in Winnipeg while the remaining 391 occurred outside Winnipeg. Of the 1,994 residential detached active MLS® listings, 843 were in Winnipeg while 1,151 were outside Winnipeg.
For the fourth consecutive month, Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold, and for June, Sargent Park and St. James recorded the next most MLS® sales. The Steinbach area had the most residential detached homes sold outside Winnipeg in June followed by the Morden/Winkler area. The $600,000-$699,999 price range was the most active with 93 MLS® sales representing 8% of all residential detached MLS® sales. The second most active price range being $375,000-$399,999 which saw 83 MLS® sales, representing 7% of all residential detached MLS® sales. There were 22 residential detached homes sold for over $1 million in June, with the highest price at $1.8 million. June 2023 had 12 residential detached homes sold for over $1 million, with the highest priced at just over $1.5 million.
MLS® sales of 209 for condominiums in June were 16% below the 249 seen last June and 6% below the 5-year average of 223. Active MLS® listings of 469 for condominiums were statistically even with the 468 seen last June and 16% below the 5-year average of 561. The average price of $273,303 for a condominium in June was 6% above last June’s $257,413, and 4% above the 5-year average of $263,808.
Of the 209 total condominium MLS® sales across the Winnipeg Regional Real Estate Board’s market region in June, 177 were within Winnipeg and the remaining 32 occurred outside Winnipeg. Of the 469 active MLS® listings for condominiums, 373 were in Winnipeg and 96 were outside Winnipeg.
For the second consecutive month, Osborne Village was the neighbourhood in Winnipeg which saw the most MLS® condominium sales followed by Linden Woods. The most active price range for condominiums was the $175,000-$199,999 range with 40 sales in June which represents 16% of all condominium MLS® sales. The $125,000-$149,999 range was the second most active price range with 26 sales in June, representing 10% of all condominium MLS® sales.
MLS® sales of 100 for residential attached homes in June were 7% below the 108 seen in June of 2023 and 13% below the 5-year average 115. Active MLS® listings for residential attached homes of 259 were 7% below the 279 seen last June and 16% above the 5-year average of 223. The average price of $354,252 for a residential attached home was 2% above the $347,683 seen last June and 11% higher than the 5-year average of $319,027.
Of the 100 total residential attached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in June, 73 were in Winnipeg and the remaining 27 occurred outside Winnipeg. Of the 259 active MLS® listings for residential attached homes, 165 were in Winnipeg and 94 were outside Winnipeg.
“When the time comes to sell your home, REALTORS® know how to market your home so that potential buyers have the opportunity to view your property,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “In addition to their access to the Multiple Listing Service® (MLS®), REALTORS® have a broad network of contacts to engage as many people as possible so that you benefit from the best outcome possible.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.