By Jeremy Davis
The real estate market results for August 2024 saw increases to all MLS® sales 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 and dollar volume but a decrease in active listings over last year. Residential detached and residential attached homes saw an increase in average prices over last year while average prices for condominiums decreased.
“For the seventh time in eight months of 2024,
MLS® sales across the three main property types of residential detached, condominiums, and residential attached homes increased over last year,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “On a year-to-date basis, MLS® sales for the main three property types are also up over last year. Condominium MLS® sales were the lone property type to rise above the 5-year average, both in August and on a year-to-date basis, signalling steady demand in the condominium market.”
Year-to-date, all MLS® sales of 10,250 were up 11%, total MLS® listings of 16,785 were up 3% while dollar volume of $3.9B was up 18% over 2023. Year-to-date residential detached MLS® sales of 7,046 were up 9% and the average price of $424,164 was up 6% when compared to last August. Condominium MLS® sales of 1,542 were up 11% and the average price of $277,155 was up 7% over last August. Year-to-date residential attached MLS® sales of 716 were up 17% and the average price of $363,940 was up 9% over last year.
August MLS® sales of 1,483 for all MLS® property types across the Winnipeg Regional Real Estate Board’s market region were up 7% over last August, and 4% below the 5-year average. Active MLS® listings of 4,015 for all MLS® property types were down 5% from last August but 5% above the 5-year average. The total dollar volume of MLS® sales in August was over $549 million which is 9% above last August and 4% above the 5-year average.
Residential detached homes in August saw MLS® sales of 1,030 which is 2% above the 1,008 seen last August and 6% below the 5-year average of 1,097. Residential detached homes saw active MLS® listings of 1,929 which is down 10% from the 2,137 seen last August but 2% above the 5-year average of 1,895. The average price of $415,717 for a residential detached home rose 4% over last August’s $401,374 and is up 7% over the 5-year average of $387,449.
Of the 1,030 residential detached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in August, 660 were in Winnipeg while the remaining 370 occurred outside Winnipeg. Of the 1,929 residential detached active MLS® listings, 808 were in Winnipeg while 1,121 were outside Winnipeg.
Weston was the neighbourhood in Winnipeg which saw the most residential detached homes sold with Waverley West recording the next most MLS® sales. The Steinbach area had the most residential detached homes sold outside Winnipeg in August followed by the Gimli area.
The $400,000-$424,999 price range was the most active with 89 MLS® sales representing 9% of all residential detached MLS® sales. The second most active price range was $550,000-$599,999 which saw 83 MLS® sales, representing 8% of all residential detached MLS® sales. There were 12 residential detached homes sold for over $1 million in August, with the highest price at over $1.6 million. August 2023 had 14 residential detached homes sell for over $1 million, with the highest priced at just over $3.4 million.
MLS® sales of 210 for condominiums in August were 8% above the 194 seen last August and 3% above the 5-year average of 204. Active MLS® listings of 460 for condominiums were 4% below the 480 seen last August and 18% below the 5-year average of 558. The average price of $270,575 for a condominium in August was 3% below last August’s $279,055, and 4% above the 5-year average of $261,142.
Of the 210 total condominium MLS® sales across the Winnipeg Regional Real Estate Board’s market region in August, 178 were within Winnipeg and the remaining 32 occurred outside Winnipeg. Of the 460 active MLS® listings for condominiums, 364 were in Winnipeg and 96 were outside Winnipeg.
Osborne Village was the neighbourhood in Winnipeg which saw the most MLS® condominium sales, followed by Richmond West.
The most active price range for condominiums was the $150,000-$174,999 range with 27 sales in August which represents 13% of all condominium MLS® sales. The $175,000-$199,999 range and the $225,000-$249,999 range were the second most active price ranges with 25 sales in August, representing 12% of all condominium MLS® sales. MLS® sales of 102 in July were 24% above the 82 seen in July of 2023 and 2% above the 5-year average of 100.
Residential attached homes saw MLS® sales of 94 which is 22% above last August and 1% above the 5-year average. Active MLS® listings for residential attached homes of 251 were 10% below the 280 seen last August and 11% above the 5-year average of 226. The average price of $362,276 for a residential attached home was 6% above the $340,939 seen last August and 13% higher than the 5-year average of $321,123.
Of the 94 total residential attached MLS® sales across the Winnipeg Regional Real Estate Board’s market region in August, 74 were in Winnipeg and the remaining 20 occurred outside Winnipeg. Of the 251 active MLS® listings for residential attached homes, 164 were in Winnipeg and 87 were outside Winnipeg.
“Using a REALTOR® will ensure you have an expert in real estate transactions on your side, but the expertise of a REALTOR® doesn’t stop there,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “REALTORS® are also experts on real estate financing trends, government legislation, marketing, negotiations, and have a network of experts and industry professionals at their disposal. This helps ensure that all your needs are met when looking at one of the largest financial decisions of your lifetime.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.