Manitoba real estate sales pick up steam in October

New data shows real estate sales across Manitoba picked up steam last month, marking a rise from September sales and the five-year average.

The numbers were released Thursday by the Winnipeg Regional Real Estate Board (WRREB).

"October marks the third month in 2024 when MLS sales across the three main property types were at or above 2023 and the five-year average, and the fourth consecutive month with MLS sales increases over 2023 and 2022,” said Daphne Shepherd, president of the Winnipeg Regional Real Estate Board, in a news release.

According to the data, there were 1,337 total recorded MLS sales in October, which marked a seven per cent rise over September and a 19 per cent improvement from October of last year.

That figure is also one per cent above the five-year average.

Meantime, active listings came in at 3,625 and were down 10 per cent. The total dollar volume was over $508 million, and is up 28 per cent from October 2023.

Residential detached sales were up 19 per cent at an average price of $427,237. That’s up seven per cent compared to October 2023.

Other takeaways – there were 212 condo sales, marking a 24 per cent improvement. The average price was $265,083, which was up slightly over last October.

Year-to-date sales of all MLS property types were at 12,822, up 12 percent, while total listings were down two per cent.

Breaking the numbers down by area, Winnipeg had an eight per cent spike in unit sales year-over-year and a six per cent rise in the average price, which is $436,263.

The biggest rise in unit sales year-over-year was in Steinbach with 439, which was a 21 per cent change. The average property price also rose the highest year-over-year in Steinbach, coming in at $383,131, which marks a 10 per cent climb.

The full October real estate market results can be read on WRREB’s website.