Manitoba’s real estate market kicks off new year with rise in sales, listings

A real estate agent puts up a 'sold' sign in front of a house in Toronto on Tuesday, April 20, 2010. (Darren Calabrese / THE CANADIAN PRESS)

Manitoba’s real estate market kicked off the year with another month of increases, with sales on all property types up 14 per cent over last January.

The Winnipeg Regional Real Estate Board (WRREB) released the January data Thursday, noting sales, listings, dollar volume and average prices across all of the main three residential property types were up compared to last year.

This comes on the heels of similar increases in December of 2023.

“It was interesting to see 2023 close out with increases across many statistical categories but even more compelling to see a start to 2024 that builds on that statistical trend,” said Rena Prefontaine, board president.

While sales did post a 14 per cent increase in January, it is still eight per cent below the five-year average.

Listings for all property types were up seven per cent compared to last year and eight per cent above the five-year average.

The total volume of sales was over $236 million which is 26 per cent above last January and two per cent above the five-year average.

Of the 443 residential detached sales across the Winnipeg market in January, the bulk, 287, were in Winnipeg, while the remaining were outside the city. East Transcona led the way with the most residential detached homes sold in January, followed closely by Waverley West.

Meantime, the Steinbach area saw the most residential detached homes sold outside Winnipeg, followed by the Morden-Winkler area.

The most active residential detached price range in January was $325,000 to $349,999, representing eight per cent of all residential detached sales.

A close second was the $550,000 to $599,999 price range.

There were seven residential detached homes sold at $1 million or more in January 2024, whereas three were sold in January 2023.

Meantime, 99 condos sold in January, 86 of which were in Winnipeg.

Osborne Village saw the most condo sales, followed by downtown.