Manitoba Real Estate Market Update: September 2022
Winnipeg1 homes sales declined by 12% between August and September, and with new listings declining by only 2%, the sales-to-new-listings ratio swung out of seller’s market territory to 56%, almost centred in a balanced market. Compared to 2021, homes sales were down 20% in Winnipeg, but new listings were up by 12%. At the end of September there were 3,897 homes available for sale in Winnipeg, a 4% increase over August and a 37% increase over September of last year.
Average selling prices lost a bit of ground over the last month, with detached homes falling by 1% to settle at $384,000, attached homes settling at $314,176, down 4%, and condos falling by 1% to $265,671. In a year-over-year perspective, condo prices were up by 15% over last September while detached homes were 5% higher and row houses were 1% higher.
In a market like Manitoba’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. Call 1-855-953-9533 to learn more.
The Winnipeg Regional Real Estate Board (WRREB) reports:1 2 3
- Market: Balanced Market
- Sales: 1,205 (down 20% year over year and down 12% month over month)
- New listings: 2,154 (up 12% year over year and down 2% month over month)
- Active listings: 3,897 (up 37% year over year and up 4% month over month)
- Sales-to-new-listings ratio: 56% (previous month was 62%)
- Average detached selling price: $384,000 (up 5% year over year and down 1% month over month)
- Average townhouse selling price: $314,176 (up 1% year over year and down 4% month over month)
- Average condo selling price: $265,671 (up 15% year over year and down 1% month over month)
Comments from WRREB President Akash Bedi: “September is a continuation of the progression in the third quarter of our market region, transitioning out of a sellers’ market to one far more balanced and buyer friendly. As we saw in August, above-list-price sales are far fewer now than earlier in the year, with the majority of listings selling for less than list price.”
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.