By Jeremy Davis
December 2024’s real estate market performance saw increases to All MLS® sales and dollar volume when compared to last December and the 5-year average. All MLS® active listings were down from December 2023 but even with the 5-year average. Apart from 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.
“Similar to November, total December MLS® sales for all property types represented the third best December result on record,” said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “December represents the eighth month in 2024, and third consecutive month, when there were double digit increases for total All MLS® sales for all property types. December MLS® sales, average prices and dollar volume for the main three property types were higher than last year, while all but residential detached MLS® sales were higher than the 5-year average.”
December saw All MLS® sales of 742 up 19% over December 2023, and 3% lower than the 5-year average. Active MLS® listings of 2,393 were down 19% from last December and total MLS® dollar volume of over $272 million was up 22% from December 2023. Residential detached MLS® sales of 468 were up 15% while the average price of $423,908 was up 4% when compared to December 2023. Condominium MLS® sales of 120 were up 18% and the average price of $272,728 was up 1% over last December.
Year-to-date All MLS® sales of 14,597 were up 13%, total MLS® listings of 22,858 were up 2% while dollar volume of over $5.5B was up 20% over 2023. Year-to-date residential detached MLS® sales of 9,987 were up 11% and the average price of $423,878 was up 6% when compared to last December. Condominium MLS® sales of 2,194 were up 13% and the average price of $274,201 was up 6% over last December. Year-to-date residential attached MLS® sales of 1,039 were up 21% and the average price of $365,965 was up 10% over last year.
Residential detached homes in December saw MLS® sales of 468 which is 15% above the 406 seen last December and 5% below the 5-year average of 491. Residential detached homes saw active MLS® listings of 1,005 which is down 23% from the 1,303 seen last December and 2% below the 5-year average of 1,028. The average price of $423,908 for a residential detached home rose 4% over last December’s $405,895 and is up 10% over the 5-year average of $386,727.
For December, 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 Morden/Winkler area had the most residential detached homes sold while the second most was tied between the areas of Steinbach and West St. Paul.
The $600,000-$699,999 price range was the most active with 48 MLS® sales representing 10% of all residential detached MLS® sales in December. The second most active price range was $400,000-$424,999 which saw 34 MLS® sales, representing 7% of all residential detached MLS® sales in December.
There were 6 residential detached homes sold at or above $1 million in December, with the highest price at almost $2 million. December 2023 also had 6 residential detached homes sold at or above $1 million.
MLS® sales of 120 for condominiums in December were 18% above the 102 seen last December and 1% above the 5-year average of 119. Active MLS® listings of 260 for condominiums were 32% below the 385 seen last December and 26% below the 5-year average of 349. The average price of $272,728 for a condominium in December was 1% above last December’s $269,878, and 8% above the 5-year average of $253,524.
For December, Osborne Village was the neighbourhood in Winnipeg which saw the most condominium MLS® sales followed by Downtown.
The most active price range for condominiums was the $200,000-$224,999 range with 17 MLS® sales which represents 14% of all condominium MLS® sales in December. The $225,000-$249,999 was the second most active with 13 MLS® sales in December, representing 11% of all condominium MLS® sales.
Residential attached homes saw MLS® sales of 70 which is 46% above the 48 seen last December and 4% above the 5-year average of 68. Active MLS® listings for residential attached homes of 176 were 21% below the 224 seen last December and 11% above the 5-year average of 158. The average price of $384,886 for a residential attached home was 12% above the $344,667 seen last December and 16% higher than the 5-year average of $332,428.
“The start of a new year is an exciting time when many people are looking for new beginnings and a fresh start,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Fortunately, REALTORS®
specialize in creating fresh starts and have the tools and expertise at their disposal to not only assist buyers and sellers in getting the best price, but also to help provide professional advice at every step in the process. For anyone looking for a fresh start in a new home in 2025, I encourage you to pick up this week’s issue of the Winnipeg Regional Real Estate News to view listings, open houses, and to find a REALTOR®.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.