Manitoba Real Estate Market Update: September 2021

The Winnipeg real estate market experienced a decline in sales, new listings, and active listings, which are all down year over year and month over month. Despite this, the sales-to-new-listing ratio increased 1% to sit at 78% for the month of September. This continues to lock Winnipeg in a seller’s market as we head into the final quarter of the year.  

Prices for detached homes and condos have increased marginally year over year, but interestingly the price of townhouses increased by a whopping 23% in September. It is notable that first-time buyers are leaning heavily towards condos as a more affordable way to enter the marketplace. This is demonstrated by the month-over-month double-digit price gains for this home type.

If you need to sell or buy a home, a local Purplebricks REALTOR® can help you navigate the market safely and with professional insight. Purplebricks 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.

Winnipeg 

The Winnipeg Regional Real Estate Board (WRREB) reports1 2 : 

  • Market:Seller's Market   
  • Sales:1,501 (down 15% year over year and down 11% month over month)
  • New listings: 1,922 (down 16% year over year and down 12% month over month)
  • Active listings: 2,840 (down 28% year over year and down 3% month over month)
  • Sales-to-new-listings ratio: 78% (previous month was 77%)
  • Average detached selling price: $364,817 (up 4% year over year and down 3% month over month)
  • Average townhouse selling price: $311,188 (up 23% year over year and up 3% month over month)
  • Average condo selling price: $230,796 (up 2% year over year and down 11% month over month)  

Comments from WRREB President Kourosh Doustshenas: “The new peak for annual dollar volume is a combination of increased sales and higher prices. As for condominiums, the growing spread between single-family detached homes and condominium average sale prices in 2021 have made the latter property type an even more affordable option for buyers, especially first-time buyers who do not have the benefit of equity gains from the sale of their existing home. Moreover, residential-attached properties offer another affordable option.” 

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Purplebricks supports Canadians by providing full-service 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. 

Randall Weese is the Director of Compliance and Brokerage Services at Purplebricks, where he is also the licensed Broker of Record for Ontario, Broker for Alberta, and Associate Broker for Manitoba. A REALTOR® with 14 years’ experience in Ontario, Randall has worked in a variety of business models within the real estate industry. He has been a REALTOR® at one of the largest brokerages in Canada, managed a boutique brokerage, and founded and operated his own brokerage in the Greater Toronto Area. Throughout his career, he has acted as a listing agent on thousands of homes across the country.

 

 

*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.