Manitoba Real Estate Market Update: May 2021

June 17, 2021

May was another hot month for Winnipeg real estate with the second-highest sales in history! While supply levels got a boost, prices continue to rise for some home types.  

The Winnipeg Regional Real Estate Board (WRREB) reports 2,006 residential sales in May,[1] surpassing the previous five-year May average by 21% and coming in second only to the record 2,055 sales in April of this year.[2] Thus, sales declined 2% month over month, but compared to May 2020 – when the market was devastated by the first wave of the pandemic – they’re up 46%.  

Map of Manitoba with purple 'pins' indicating real estate listings

New listings, on the other hand, grew 4% from last year and 9% from last month to 2,536 – still 8% below the previous five-year average, but enough to bring the sales-to-new listings ratio (which indicates how many homes were sold per 100 new listings) down substantially from 88% in April to 79%. By month’s end, there were 2,768 active listings available on the market, down 40% year over year and up 6% month over month. 

“Buyers continue to show unwavering enthusiasm for all property types in May, and as a result, it is putting a price premium on many listings that come onto the market for sale,” notes Kourosh Doustshenas, WREB President. 

Indeed, for detached homes, the average selling price grew 18% year over year and 1% month over month to $387,338, and for condos, it was up 12% and 9% over the same periods to $254,928. The only home type to experience declines was attached homes, which saw the average price rise 12% compared to last year but fall 6% from last month to $298,333.[3] As in previous months, the price range in which the most residential transactions occurred was $500,000-$749,999 with 18% of sales. 

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Statistics presented herein are rounded to the nearest whole number for readability. Exact statistics can be found using the references provided.

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.