Manitoba Real Estate Market Update: December 2022
591 homes sold in Winnipeg in December, a sharp decline of 32% from November.1 2 3 New listings declined by 48% over the same period to 736. The sharper decline in new listings shifted the sales-to-new-listings ratio from 61%, the inside edge of a seller’s market, to 80% indicating the region experienced strong seller’s market conditions in December. From a year-over-year perspective, home sales were down by 36% while new listings were down by only 3%. There were 2,634 active listings at the close of December, 55% more than last December, but 24% fewer than in November.
The average price of a detached home in Winnipeg was $378,978, which is on par with last month, but 1% below year-ago prices. Attached homes were down 1% month over month to settle at $314,496, 8% below last December. Condos fell the most from November, coming in at $243,749, 9% less than November but at par with last year.
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In a market like Manitoba’s, the guidance of a REALTOR® 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.
Winnipeg
The Winnipeg Regional Real Estate Board (WRREB) reports:1 2 3
- Market: Seller’s Market
- Sales: 591 (down 36% year over year and down 32% month over month)
- New listings: 736 (down 3% year over year and down 48% month over month)
- Active listings: 2,364 (up 55% year over year and down 24% month over month)
- Sales-to-new-listings ratio: 80% (previous month was 61%)
- Average detached selling price: $378,978 (down 1% year over year and at par month over month)
- Average townhouse selling price: $314,496 (down 8% year over year and down 1% month over month)
- Average condo selling price: $243,749 (at par year over year and down 9% month over month)
Comments from WRREB President Akash Bedi: “Real estate remains one of the most important contributors to our well-being and is a strong indicator of the overall local economy. The Winnipeg regional real estate market remains affordable with many options to purchase a home or condominium. It is to be expected that overall sales and inventory have shifted in line with the pre-pandemic trajectory and the normal seasonal changes that the market experiences.”
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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. 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.
