Manitoba Real Estate Market Update: October 2022

Manitoba Real Estate Market Update: October 2022 Manitoba Real Estate Market Update: October 2022

October home sales in Winnipeg1 2 3 dropped by 12% from September to 1,063, that’s 30% lower than last year. New listings also declined; by 20% from September and by 3% from last year. The larger month-over-month decline in new listings shifted the sales-to-new-listings ratio to 61%, indicating Winnipeg teetered on seller’s market conditions in October. There were 3,687 active listings at the end of October, a 42% bump above last year, though 5% fewer than last month.

The average selling price of a detached home in Winnipeg dropped by 2% between September and October to $377,165. Condos followed suit, dropping to $260,898, while the average selling price of a townhome increased by 1% to $316,254. A year-over-year glance shows that detached homes were down by 1% in October, townhouses were up by 1%, and condos were up by 2%.

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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. 

Map of Manitoba showing where FairSquare operates.

Winnipeg

The Winnipeg Regional Real Estate Board (WRREB) reports:1 2 3

  • Market:Seller’s Market
  • Sales:1,063 (down 30% year over year and down 12% month over month)
  • New listings: 1,730 (down 3% year over year and down 20% month over month)
  • Active listings: 3,687 (up 42% year over year and down 5% month over month)
  • Sales-to-new-listings ratio: 61% (previous month was 56%)
  • Average detached selling price: $377,165 (down 1% year over year and down 2% month over month)
  • Average townhouse selling price: $316,254 (up 1% year over year and up 1% month over month)
  • Average condo selling price: $260,898 (up 2% year over year and down 2% month over month)

Comments from WRREB President Akash Bedi: “I think you would be hard-pressed to find any major city in the country where they have half of their single-family home sales in October 2022 are selling for under $350,000. It is worth noting that our market region condominiums are much more affordable with 70% of sales in October 2022 selling under $300,000.” 

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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. 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.  

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.