Manitoba Real Estate Market Update: April 2022

The 1,461 sales in April did not keep pace with the frenzy of sales activity last year in Winnipeg, dropping 29% year over year but increasing slightly by 2% month over month. Still, this was the second-best April on record. Despite a boost in inventory in April, it had marginal impacts on the sales-to-new-listings (STNL) ratio, decreasing to 77% from 78% the previous month. This indicates that a seller’s market continues in the region.  

There were 1,892 homes put on the market in April, which is a 2% month-over-month increase after the substantial boost to new listings in March but represented a decrease of 19% year over year. Active listings increased 16% month over month which is great news for buyers; however, similar to new listings, represented a 19% decrease compared to April 2021.

Double-digit average year-over-year price increases remained for all product types, with detached homes and attached homes seeing the largest gains at 17% each, with condominiums close  behind at 12%. Month-over-month  price gains were smaller, with attached homes seeing the largest gains, up 6% month over month.

The market in Winnipeg continues to be run by larger investments, with the largest percentage of transactions taking place in the $500K-$749K (27%) price range. The $350K-$399K and $400K-$449K ranges each represented 13% of total sales, while the $300K-$349K price range took 11% of the market share.  

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In a seller’s market like Winnipeg's, the guidance of experienced REALTORS® is an invaluable asset for both buyers and sellers. Speak to a FairSquare Group Realty agent to learn about the latest trends in your region and discover how we can help you reach your real estate goals.   

Map of Manitoba showing where FairSquare operates

 The Winnipeg Regional Real Estate Board (WRREB) reports1 2 3

  • Market:Seller's Market    
  • Sales: 1,461 (down 29% year over year and up 2% month over month)  
  • New listings: 1,892 (down 19% year over year and up 2% month over month)  
  • Active listings: 2,112 (down 19% year over year and up 16% month over month)  
  • Sales-to-new-listings ratio: 77% (previous month was 78%)  
  • Average detached selling price: $447,421 (up 17% year over year and up 2% month over month)  
  • Average townhouse selling price: $371,463 (up 17% year over year and up 6% month over month)  
  • Average condo selling price: $261,802 (up 12% year over year and at par month over month)     

Comments from WRREB President Akash Bedi: “The price acceleration for a number of property types is continuing in 2022. It has to do with the supply/demand imbalance where listings are deficient in meeting the brisk demand.”

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FairSquare Group Realty supports Canadians by providing real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive   when they purchase a home with one of our REALTORS®. Call 1-855-953-9533 to learn more. 

Statistics presented herein are rounded to the nearest whole number for readability. Exact statistics can be found using the references provided. *Cash back – How the Home Buying Service cash back works: FairSquare Group Realty will share with the buyer the commission it receives from the seller’s agent up to a maximum of $2,000 in cash back. No cash back if the commission received is lower than $5,000. Where available.

On December 1, 2021, Purplebricks rebranded to FairSquare Group Realty. Blog articles published before this date were created under the Purplebricks brand but remain the property of FairSquare Group Realty.

In January 2019, ComFree Commonsense Network Brokerage rebranded to Purplebricks.