Manitoba Real Estate Market Update: March 2022

The 1,436 sales in March did not keep pace with the frenzy of sales activity last year in Winnipeg, dropping 27% year over year but increasing 49% month over month. Still, this was the second-best March on record. If reduced listings did not limit action on the market, the region would have likely produced higher totals. The sales-to-new-listings (STNL) ratio was driven up by the limited amount of supply, increasing to 78% from 71% the previous month. This indicates that a seller’s market continues in the region.

There were 1,848 homes put on the market in March, which is a healthy 37% month-over-month increase, but represents a decrease of 26% year over year. However, considering that active listings fell 27% year over year and remained flat month over month, buyer demand was still strong.

Double-digit average year-over-year price increases remained for both detached and attached homes, with detached homes seeing the largest gain at 14%, with attached homes close behind at 11%.  Month over month price gains were small, at 3% and 2% respectfully for detached and attached homes, while condos dipped 2% versus February 2022.

The market in Winnipeg continues to be run by larger investments, with the largest percentage of transactions taking place in the $500K-$749K (24%) price range. The $350K-$399K range represented 14% of total sales, while the $400K-$449K and $300-$349K price ranges took 13% and 11% of the market share, respectively.

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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:

  • Market: Seller's Market   
  • Sales: 1,436 (down 27% year over year and up 49% month over month) 
  • New listings: 1,848 (down 26% year over year and up 37% month over month) 
  • Active listings: 1,822 (down 27% year over year and at par month over month) 
  • Sales-to-new-listings ratio: 78% (previous month was 71%) 
  • Average detached selling price: $439,535 (up 14% year over year and up 3% month over month) 
  • Average townhouse selling price: $349,074 (up 11% year over year and up 2% month over month) 
  • Average condo selling price: $260,731 (up 5% year over year and down 2% month over month) 

Comments from WRREB President Akash Bedi: “Demand in 2022 remains very brisk, as we experienced in 2021. The difference in 2022 is that we are seeing fewer sellers engaged in our market despite the opportunity they have to take advantage of strong seller’s market conditions.”

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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 $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.