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May Real Estate Market Results Show Strong MLS® Sales and Average Prices
Winnipeg, June 11, 2024 – All MLS® sales reported by the Winnipeg Regional Real Estate Board for May 2024 were 1,726, an increase of 22% from April and 14% over last May. When comparing to May of 2023, active MLS® listings of 4,100 were up 1% and total MLS® dollar volume of $663 million up 18%. Residential detached MLS® sales of 1,189 were up 12% while the average price of $425,380 up 4% when compared to last May. Condominium MLS® sales of 279 were up 25% and the average price of $277,308 up 4% over last May. Residential attached MLS® sales of 123 were up 10% and the average price of $365,346 up 10% over last year.
“The upward trend seen last month has continued with the second best May on record in terms of MLS® sales and a 2nd consecutive month when MLS® sales have outpaced the 5-year average," said Daphne Shepherd, 2024-2025 President of the Winnipeg Regional Real Estate Board. “This is noteworthy because the best May on record in 2021 and the third best May on record in 2022 are included in the results of the last five years, and this underscores the strength of this May's real estate market performance. For the sixth consecutive month, residential detached, condominiums, and residential attached homes all saw increases in average prices over last year and the 5-year averages."
Year-to-date residential detached MLS® sales were up 15% to 3,854 when compared to the 3,340 seen through May 2023. Year-to-date residential detached MLS® average prices were up 6% to $420,457 from the $395,068 seen last year. Year-to-date residential detached dollar volume was up 23% to $1.6 billion compared to the $1.3 billion realized in May of 2023.
“In the midst of a fast-moving real estate market during our market regions' busiest season, REALTORS® have the tools to offer peace of mind to buyers and sellers looking to make sense of current market conditions," said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “One of the many benefits of using a REALTOR® is gaining access to their ability to analyze real estate market data, trends, and analytics. When combining the results of these factors, REALTORS® can offer prospective buyers and sellers expert advice on what they can expect for pricing on their next real estate transaction."
May Real Estate Market Results Show Strong MLS® Sales and Average Prices
Winnipeg, June 11, 2024 – May saw increases to All MLS® sales, and dollar volume when compared to last year and the 5-year averages. All three of the main property types of residential detached, condominium, and residential attached homes saw increases to MLS® sales, dollar volume and average prices over last year and the 5-year averages. Active listings for residential detached, condominium, and residential attached homes were at or below last year and with only condominiums falling below the 5-year average.
For the third consecutive month, Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold and for the second consecutive month, it was followed by Crestview.
The Morden/Winkler area narrowly beat out the Steinbach area for the most residential detached homes sold outside Winnipeg in May followed by the Gimli area.
Activity in the price range categories were more evenly distributed in May, with the $325,000-$349,999 price range as the most active with 88 MLS® sales representing 7.4% of all MLS® sales. The second most active price ranges were the $350,000-$374,999 and $425,000-$449,999 price ranges with each seeing 87 MLS® sales, representing 7.3% of all residential detached MLS® sales, respectively.
There were 18 residential detached homes sold for over $1 million in May, with the highest priced at over $3.5 million. May 2023 had 9 residential detached homes sold for over $1 million, with the highest priced at just over $1.5 million.
Osborne Village was the neighbourhood in Winnipeg which saw the most MLS® condominium sales in May followed by Linden Woods.
The most active price range for condominiums was the $200,000-$224,999 range with 27 sales in May which represents 12% of all MLS® condominium sales. The $150,000-$174,999 range was the second most active price range with 25 sales in May, representing 11% of all MLS® condominium sales.
Source: Winnipeg Regional Real Estate Board.
