Manitoba Real Estate Market Update: July 2021
Winnipeg is still in a seller’s market! Of the homes that were listed in July, a whopping 57% of them sold within the same month. And 54% of those sold for over asking price! This is causing average selling prices to continue to climb, even though new listings and sales have been declining month over month. There were 8 sales over $1 million and the most active price ranges were from $500,000 to $749,999 and from $300,000 to $349,999.
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 local 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.
The Winnipeg Regional Real Estate Board (WRREB) reports: 1 2
- Market: Seller's Market
- Sales: 1,678 (down 12% year over year and down 14% month over month)
- New listings :2,172 (down 10% year over year and down 9% month over month)
- Active listings: 2,919 (down 34% year over year and up 5% month over month)
- Sales-to-new-listings ratio: 77% (previous month was 82%)
- Average detached selling price: $377,789 (up 7% year over year and down 5% month over month)
- Average townhouse selling price: $321,334 (up 18% year over year and up 7% month over month)
- Average condo selling price: $258,770 (up 10% year over year and up 3% month over month)
Comments from WRREB President Kourosh Doustshenas: "If you look at 2021 as a full year marathon, not shorter runs such as weekly or monthly periods of time, the blistering pace set earlier in the year (e.g., over 2,000 sales in April and May) has evidence of slowing down. Sales are still well on pace to finish the year in record fashion."
Need to sell or buy a home? FairSquare Group Realty can help.
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