August 2023 MLS® sales and average prices see gains over 2022
WINNIPEG, September 7, 2023 – August 2023 MLS® sales and average prices increased over August of 2022 stemming from increases seen across the main three property types of residential detached, condominium and residential attached homes.
“August marks the first month in 2023 that MLS® sales performed better than the same month in 2022," said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “This trend was seen across all three of the main property types but mostly due to an increase in residential detached MLS® sales. After months of coming close to 2022 MLS® sales levels, it is good to see performance rise above last year's results."
All MLS® sales in August were 2% higher than July, 2% higher than August of 2022 and 9% below the 5-year average. In keeping with the theme from July's Market Release, the MLS® sales performance for August was 6% above the 5-year average of Augusts between 2015-2019, before the pandemic began. Active MLS® listings on the other hand, were down 2% from July, up 12% from last August and 1% below the 5-year average.
The total dollar volume of MLS® sales in August was almost $511 million and was 5% higher than 2022 and 1% higher than the 5-year average.
Of the 1,013 residential detached MLS® sales across our market region, 649 were in Winnipeg while the remaining 364 occurred outside Winnipeg. Of the 2,137 residential detached active MLS® listings, 994 were in Winnipeg while 1,143 were outside Winnipeg.
The average price for a residential detached home rose 4% over last August and is up 10% over the 5-year average.
“Interestingly, with 14 MLS® sales over $1 million, August became the new best month for MLS® sales in this price range for 2023," said Prefontaine.
Of the 194 total MLS® condominium sales across the Winnipeg Regional Real Estate Board's market region in August, 168 were in Winnipeg and the remaining 26 occurred outside Winnipeg. Of the 480 active MLS® listings for condominiums, 365 were in Winnipeg and 115 were outside Winnipeg.
The average price for a condominium in August was 5% above August of 2022 and 10% above the 5-year average.
“Another interesting statistic for August saw the 2nd condominium of 2023 sold for over $1 million," said Prefontaine.
Of the 77 total MLS® residential attached home sales in August, 51 were in Winnipeg and the remaining 26 occurred outside Winnipeg. Of the 280 active MLS® listings for residential attached homes, 176 were in Winnipeg and 104 were outside Winnipeg. The average price for a residential attached home was 5% higher than last August and 15% higher than the 5-year average.
“For families with children, the beginning of September signifies a transition back into the rhythm of school, daily routines, and a bustling schedule filled with various activities," stated Marina R. James, the CEO of the Winnipeg Regional Real Estate Board. "Families can rely on the expertise and tools provided by REALTORS® to discover neighborhoods that are conveniently located near schools, recreational facilities, and all the essential liveability amenities. REALTORS® possess the necessary resources, data, and experience to help you find the right home in the ideal location!"
Source: Winnipeg Regional Real Estate Board