Manitoba Real Estate Market Update: August 2022

Manitoba State of the Market Update: July 2022 Manitoba State of the Market Update: July 2022

August home sales in the Winnipeg1 region declined a further 11% from July to 1,375 sales, while new listings decreased by 7% over the same period to 2,201. With the decline in sales outpacing the decline in new listings, the Winnipeg region shifted closer towards balanced market conditions, while remaining on the edge of a seller’s market. The sales-to-new-listings ratio decreased to 62% in August from 65% in July. 

Average selling prices dropped for both detached homes and condos in a month-over-month comparison, with detached homes dropping by 3% and condos dropping by 2%, while the average selling price of townhomes increased by 1% from July. 

Year over year, average selling price was up in all home categories in August, with condos achieving the highest increase of 11% for an average price of $266,893, and townhomes close behind, with a 10% increase and an average price of $325,569. Detached homes increased by 2% year over year, with an average price in August of $389,592. 

Detached homes make up the majority of the market with 73% of the sales, while condos comprise 14% and townhomes make up 5%.

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In a market like Manitoba’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. Call 1-855-953-9533 to learn more. 

Map of Manitoba showing where FairSquare operates

Winnipeg

The Winnipeg Regional Real Estate Board (WRREB) reports:1 2 3

  • Market:Seller's Market 
  • Sales:1,375 (down 15% year over year and down 11% month over month) 
  • New listings: 2,201 (up 2% year over year and down 7% month over month) 
  • Active listings: 3,764 (up 28% year over year and up 2% month over month) 
  • Sales-to-new-listings ratio: 62% (previous month was 65%) 
  • Average detached selling price: $389,592 (up 2% year over year and down 3% month over month) 
  • Average townhouse selling price: $325,569 (up 10% year over year and up 1% month over month) 
  • Average condo selling price: $266,893 (up 11% year over year and down 2% month over month) 

Comments from WRREB President Akash Bedi: “We have seen improvement in our market region’s inventory compared to the beginning of the year, as MLS® listings entered for the first 8 months are down less than 6% compared to last year and well ahead of 2021 in terms of what is available for sale. The main reason for more listings for sale compared to last year at this time is that sales are well down from 2021’s record-shattering market activity.” 

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FairSquare Group Realty supports Canadians by providing exceptional real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive $2,000 cash back* 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.