Winnipeg Real Estate Sales & Market Update - October 2023
Frst October to see All MLS® sales increase over the previous year since the record setting October 2020!
All MLS® sales in October were 7% higher than the last October, and 12% below the 5-year average. Active MLS® listings were up 10% from last October and 5% above the 5-year average. The total dollar volume of MLS® sales in October was a little over $397 million which is 9% higher than last October and 7% below the 5-year average.
“While our market region is sprinkled with snow as we begin the last quarter of 2023, it is uplifting to see so many increases over last October,” said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “Not only were All MLS® total sales up but MLS® sales for residential detached homes were up 5% while condominium sales were up almost 20% over last October. Average prices declined slightly for condominiums and residential attached homes but for the fourth consecutive month, average prices rose for residential detached homes when compared to last year.”
The average price of a residential-detached home in October was $377,189. This figure is 6% higher than last October, and 9% above the 5-year average of $364,574.
The Synopsis on Sales Data from the Winnipeg Real Estate Board in October
“On behalf of buyers, sellers and REALTORS®, the Winnipeg Regional Real Estate Board places a high priority on advocating to all levels of government on issues that impact the development of housing and real estate,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Recently, real estate boards, associations, and REALTORS® from across Canada gathered in Ottawa for the Canadian Real Estate Associations Annual Political Action Committee conference to advocate to federal Members of Parliament on the current housing crisis. With expert knowledge on market conditions and consumer interests, REALTORS® continue to make formidable contributions to the discussions on housing policy, increasing housing supply, and affordability, which are top of mind for Canadians from coast to coast to coast.”
If you are planning on selling it is a great time to engage with a real estate professional who can guide you through the process. Get in touch with our team to learn more!
Contact us to learn more!
If you want to learn more about the real estate market trends in Winnipeg please get in touch with us! The team at Kevin Moist and Associates would love to help you buy or sell real estate in Winnipeg! We look forward to working with you!