By Jeremy Davis
The Winnipeg Regional Real Estate Board has access to MLS® statistics, and through our adept use of technology, we are able to provide precise and up-to-date insights into the dynamic real estate market. 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.
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. This is especially relevant when looking at the Lake Country areas which represent their own unique markets, each with their own distinctive market dynamics.
This week’s Real Estate Market Matters column features a market update on Lake Country for the first half of 2024 with data from January to the end of June. There are five Lake Country areas within the Winnipeg Regional Real Estate Board’s market region that will be focused on in this update. They include Lac du Bonnet, Lake Manitoba - East Side, Lake Winnipeg - East Side, Lake Winnipeg - West Side and Winnipeg River. A description of the areas along with a map are shown in the graphic to the right.
“It is often said that all markets are local, and this can be seen very clearly in the specific real estate markets that make up the Lake Country areas,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “While average prices were up in most areas, the number of listings and MLS® sales varied depending on the areas of focus. These differences in local real estate markets are yet another great example of why the experience, data and expertise of a licensed REALTOR® are a great asset for you whether you’re looking to buy or sell in Lake Country!”
The total first-half real estate market results for 2024 across all Lake Country areas in the Winnipeg Regional Real Estate Board’s market region saw all MLS® sales of 381 up 15% over 2023. MLS® listings of 834 were up 3% while dollar volume of $86 million was up 22% over 2023. The average price of $224,662 was up 7% over last year.
Zooming into the first-half 2024 trends seen in each area, MLS® sales were up over last year in Lake Manitoba and both the East and West sides of Lake Winnipeg but down in Lac du Bonnet and Winnipeg River. Only Lake Winnipeg – West Side saw increases over the 5-year average.
First-half 2024 MLS® listings were also up over last year on both the East and West sides of Lake Winnipeg but down in Lac du Bonnet, Lake Manitoba – East Side and Winnipeg River. MLS® listings were up over the 5-year average on both the East and West sides of Lake Winnipeg and Lake Manitoba – East Side while they were down in Lac du Bonnet and Winnipeg River.
Average prices increased in the first half everywhere but Lake Manitoba – East Side when compared to the first half of last year and the 5-year average.
“Spending time in Lake Country during the summer makes the dream of owning a cottage here incredibly enticing," said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. "Our market region offers residents easy access to stunning lakes and forests just a short drive from home. Now is the perfect opportunity to connect with a REALTOR® and discover the numerous beautiful lakes surrounding Winnipeg."
If you’re looking for properties in Lake Country, use the descriptions beside the map when using our search tool found by scanning the QR code below.
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.