By Jeremy Davis
November’s real estate market performance saw increases to All MLS® sales, and dollar volume when compared to last November and the 5-year average. All MLS® active listings were down from November 2023 but higher than the 5-year average. With the exception of the 5-year average for residential detached MLS® sales, 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.
“For the first time in 2024, MLS® sales for the main three property types saw increases of at least 20% over 2023,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “November represents the seventh month in 2024, and second consecutive month, when there were double-digit increases for total All MLS® sales for all property types. Average prices for the main three property types were higher than last year and the 5-year average. On a year-to-date basis, total MLS® sales, listings and dollar volume were all higher than last year and the 5-year average.”
November saw All MLS® sales of 1,045 up 24% over November 2023, and 1% higher than the 5-year average. Active MLS® listings of 3,321 were down 12% from last November and total MLS® dollar volume of over $397 million up 40% from November 2023. Residential detached MLS® sales of 678 were up 20% while the average price of $433,968 was up 16% when compared to November 2023. Condominium MLS® sales of 153 were up 28% and the average price of $255,997 was up 4% over last November.
Year-to-date All MLS® sales of 13,859 were up 12%, total MLS® listings of 22,054 were up 2% while dollar volume of over $5.2B was up 20% over 2023. Year-to-date residential detached MLS® sales of 9,520 were up 11% and the average price of $423,969 was up 6% when compared to last November. Condominium MLS® sales of 2,075 were up 13% and the average price of $274,270 was up 6% over last November. Year-to-date residential attached MLS® sales of 970 were up 19% and the average price of $364,776 was up 9% over last year.
Residential detached homes in November saw MLS® sales of 678 which is 20% above the 564 seen last November and 3% below the 5-year average of 697. Residential detached homes saw active MLS® listings of 1,427 which is down 20% from the 1,788 seen last November and 1% below the 5-year average of 1,444. The average price of $433,968 for a residential detached home rose 16% over last November’s $375,223 and is up 12% over the 5-year average of $386,250.
For November, Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold, with West Kildonan recording the second most MLS® sales. Outside Winnipeg, the Steinbach area had the most residential detached homes sold while the second most was tied between the areas of Morden/Winkler and Gimli.
There were 14 residential detached homes sold at or above $1 million in November, with the highest price at just over $3.5 million. November 2023 had 5 residential detached homes sold at or above $1 million.
MLS® sales of 153 for condominiums in November were 28% above the 120 seen last November and 2% above the 5-year average of 150. Active MLS® listings of 397 for condominiums were 13% below the 456 seen last November and 15% below the 5-year average of 467. The average price of $255,997 for a condominium in November was 4% above last November’s $245,946, and 3% above the 5-year average of $247,642.
For November, Downtown was the neighbourhood in Winnipeg which saw the most condo MLS® sales followed by a tie between Osborne Village and West Fort Garry for second most MLS® sales.
Residential attached homes saw MLS® sales of 86 which is 39% above the 62 seen last November and 8% above the 5-year average of 80. Active MLS® listings for residential attached homes of 235 were 16% below the 281 seen last November and 13% above the 5-year average of 208. The average price of $359,889 for a residential attached home was 9% above the $329,866 seen last November and 11% higher than the 5-year average of $322,927.
“While there are many important holidays which involve gatherings of friends and family, there is only one time of year when people say they’re ‘home for the holidays’,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “This is a time when the true value of a home comes into focus and forms the backdrop for great times shared and lifelong memories. If you’re looking for a home this holiday season, remember that REALTORS® will help you find a home that will help you write your next chapter so you can create those festive memories we all hold dear. Happy holidays!”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.