By Jeremy Davis
The real estate market results for October 2024 saw increases to All MLS® sales and dollar volume when compared to last year and October 2023. All MLS® active listings were down from October 2023 but higher than the 5-year average. All three of the main property types of residential detached, condominium, and residential attached homes saw results which were at or above 2023 and the 5-year average for MLS® sales, dollar volume and average prices.
“October marks the third month in 2024 when MLS® sales across the three main property types were at or above 2023 and the 5-year average, and the fourth consecutive month with MLS® sales increases over 2023 and 2022,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “October MLS® sales across the main three property types all saw double-digit increases over October 2023 with residential detached homes up 19%, residential attached homes up 27% and condominiums up 24%, resulting in the second-best October on record for condominium MLS® sales. On a year-to-date basis, total MLS® sales through to the end of October are the fourth highest on record.”
October saw All MLS® sales of 1,337 up 7% over September, up 19% over October 2023, and 1% higher than the 5-year average. Active MLS® listings of 3,624 were down 10% and total MLS® dollar volume of over $508 million up 28% over October 2023. Residential detached MLS® sales of 927 were up 19% while the average price of $427,237 was up 7% when compared to October 2023. Condominium MLS® sales of 212 were up 24% and the average price of $265,083 up 2% over last October.
Year-to-date All MLS® sales of 12,822 were up 12%, total MLS® listings of 20,692 were up 2% while dollar volume of over $4.8B was up 18% over 2023. Year-to-date residential detached MLS® sales of of 8,848 were up 10% and the average price of $423,217 was up 6% when compared to last October. Condominium MLS® sales of 1,923 were up 11% and the average price of $275,777 was up 6% over last October. Year-to-date residential attached MLS® sales of 885 were up 18% and the average price of $365,218 was up 10% over last year.
Residential detached homes in October saw MLS® sales of 927, which is 19% above the 776 seen last October and statistically even with the 5-year average of 925. Residential detached homes saw active MLS® listings of 1,665 which is down 18% from the 2,035 seen last October and 1% below the 5-year average of 1,679. The average price of $427,237 for a residential detached home rose 7% over last October’s $399,017 and is up 10% over the 5-year average of $386,856.
For October, Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold with Polo Park recording the second most MLS® sales. Outside Winnipeg, the Steinbach area had the most residential detached homes sold followed by the Morden/Winkler area.
There were 17 residential detached homes sold at or above $1 million in October, with the highest price at just over $2.3 million. October 2023 had 8 residential detached homes sold at or above $1 million.
MLS® sales of 212 for condominiums in October were 24% above the 171 seen last October and 11% above the 5-year average of 191. Active MLS® listings of 404 for condominiums were 16% below the 479 seen last October and 20% below the 5-year average of 504. The average price of $265,083 for a condominium in October was 2% above last October’s $260,552 and 3% above the 5-year average of $258,363.
Osborne Village was the neighbourhood in October which saw the most MLS® condominium sales followed by Waverley West. This month, the R35- Morden/Winkler area recorded the highest number of condominium MLS® sales of any MLS® area in our market region with 19.
Residential attached homes saw MLS® sales of 90 which is 27% above the 71 seen last October and 3% above the 5-year average of 88. Active MLS® listings for residential attached homes of 247 were 11% below the 277 seen last October and 8% above the 5-year average of 228. The average price of $379,310 for a residential attached home was 21% above the $314,525 seen last October and 18% higher than the 5-year average of $322,597.
“Recently in October, REALTOR® Members and staff from the Winnipeg Regional Real Estate Board joined REALTORS®, real estate boards, and associations from across Canada for the Canadian Real Estate Associations’ Political Action Committee (PAC) Days Conference in Ottawa to advocate on the current housing crisis,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “This year’s advocacy to the federal government included recommendations on embracing offsite construction technologies, creating a national housing secretariat, and extending HST/GST relief to non-profit affordable housing providers like Habitat for Humanity. As we navigate the challenges and opportunities in today’s housing market, the Winnipeg Regional Real Estate Board, along with its partner organizations, will continue to contribute meaningful recommendations to address the housing crisis and support the needs of our communities.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.