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  • Winnipeg Tribune

Winnipeg Real Estate Market Witnesses Resilient September Performance


WINNIPEG, October 9, 2023 - In a market characterized by remarkable consistency, the Winnipeg real estate scene experienced notable developments in September, with average home prices surpassing figures from the previous year and the 5-year averages across the three primary property types: residential detached, condominium, and residential attached. The Winnipeg Regional Real Estate Board reported that MLS sales in September maintained their steady performance for the month and throughout the first three quarters of 2023.


Rena Prefontaine, the 2023-2024 President of the Winnipeg Regional Real Estate Board, commented in a release on the situation, saying, "September was marked by its steady MLS sales performance for this month and through the first three quarters of 2023. With the record-breaking years seemingly in the rearview mirror, a return to consistency for MLS sales volumes in our market region is an encouraging development. Average prices continued an upward trend across the three main property types for the second consecutive month."


MLS sales in September were marginally down by 2% compared to the Septembers of both 2019 and 2022, and they lagged behind the 5-year average by 14%. Active MLS listings increased by 8% compared to the previous September and exceeded the 5-year average by 1%. The total dollar volume of MLS® sales in September amounted to just over $411 million, representing a 1% increase from September 2022 and a 6% dip below the 5-year average.


MLS sales for the first three quarters of 2023 trailed by 14% compared to 2022 and the 5-year average, but they were only 4% lower than the figures from 2019.


The third quarter of 2023 witnessed the most robust MLS sales performance when compared to 2022, with the first and second quarters lagging by 27% and 15%, respectively. The third quarter's MLS sales numbers were only 4% below those of 2022.


In September, 813 residential detached MLS sales were recorded in the market region, with 519 taking place in Winnipeg and the remaining 294 outside the city. Among the 2,179 active residential detached MLS listings, 1,083 were located in Winnipeg, while 1,096 were situated outside the city. The average price for a residential detached home increased by 4% compared to the previous September and marked a 10% rise above the 5-year average.


During the first three quarters of 2023, Waverley West emerged as the leader in total residential detached MLS sales, with 251 transactions, followed by River Park South with 154. Outside Winnipeg, the Steinbach area led with 333 sales, followed closely by Morden/Winkler with 300.


Prefontaine noted, "September saw the second-highest residential detached home sale ever in Winnipeg, at $4.7 million, in the River Heights neighborhood. The highest residential detached home sale ever came last year at $5 million in the Charleswood neighborhood."


Of the 169 total MLS condominium sales across the Winnipeg Regional Real Estate Board's market region in September, 137 took place in Winnipeg, with the remaining 32 occurring outside the city. Among the 449 active MLS listings for condominiums, 349 were located in Winnipeg, and 100 were outside the city. The average price for a condominium in September was 2% above the previous September and 9% higher than the 5-year average.


In the first three quarters of 2023, Osborne Village led the way with 140 condominium MLS sales, followed by Downtown with 78. Outside Winnipeg, Morden/Winkler took the lead with 67 sales, closely followed by the Steinbach area with 55.


Regarding residential attached homes, there were 66 total MLS sales in September, with 52 in Winnipeg and the remaining 14 outside the city. Of the 289 active MLS listings for residential attached homes, 179 were in Winnipeg, and 110 were outside the city. The average price for a residential attached home was 8% higher than the previous September and 15% higher than the 5-year average.

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