Manitoba Real Estate Market Update: December 2020
January 19, 2021
Winnipeg’s real estate market saw a seventh consecutive month of record-breaking monthly sales to end the year on a strong note.
According to the WinnipegREALTORS® December report,1 sales for all property types totalled 970, representing a 44% increase compared to December 2019 and a 19% decrease from November of this year.2 For all of 2020, sales rose 17% over 2019 to 16,033, which is 15% higher than the five-year average.
New listings for December came in at 897, up just 1% year over year and down 35% month over month, helping to bring active listings (or inventory) down a stunning 38% year over year to 2,316. According to Catherine Schellenberg, outgoing 2020 President of WinnipegREALTORS®, “listing supply was easily outstripped by accelerated buyer demand” and “never had a chance to catch up after falling behind earlier in the year.” As proof, the sales-to-new-listings ratio rose from 95% in November to 108% in December, meaning there were 108 sales for every 100 newly listed homes.
Detached homes continue to be in particularly high demand: with 608 transactions accounting for 63% of total residential sales, the average price grew 8% year over year to $342,289. Condominiums saw 149 transactions for 15% of total sales, with an average price of $235,339 (up 3% year over year). Attached homes came in at 90 transactions for 9% of total sales, with an average price of $284,400 (up 1% year over year3).
The most active price ranges for detached residential sales in December were $250,000-$299,999 and $300,000-$349,999, each taking 15% of sales, followed by $200,000-$249,999 with 12%, and, nearly on the opposite end of the spectrum, $500,000-$749,999 with 11%.
If you need to sell or buy a home, a local Purplebricks REALTOR® can help you navigate the market safely and with professional insight. Purplebricks supports Canadians by providing full-service real estate experiences with incredible rewards: our sellers save thousands in commission with our low fixed fee, and our buyers receive $2,000 in cash back* when they purchase a home with one of our REALTORS®. Call 1-855-953-9533 to learn more.