Winnipeg Real Estate Market Statistics - October 2024

October 2024 Real Estate Market Report for Manitoba

The Winnipeg real estate market showed strong performance in October 2024, with gains across All MLS® sales, average prices, and dollar volume compared to the previous month and October 2023. Winnipeg saw active demand, with notable increases in residential detached homes, condominiums, and residential attached properties, setting the stage for one of the most dynamic months of 2024.

October 2024 Key Metrics:

• All MLS® Sales: 1,337, a 7% increase over September and a 19% increase from October 2023.
• Total MLS® Dollar Volume: Over $508 million, marking a 28% increase from last October.
• Active Listings: 3,624, down 10% from October 2023 but still above the 5-year average.

Residential Property Performance

Residential Detached Homes:

• • Sales: 927, up 19% from October 2023.
  • Average Price: $427,237, representing a 7% increase year-over-year.
  • Popular Price Range: The $600,000-$699,999 range was the most active, accounting for 10% of sales (90 homes).

Condominiums:

• • Sales: 212, a 24% increase from October 2023.
  • Average Price: $265,083, an increase of 2% over last October.
  • Top Sales Locations: Osborne Village and Waverley West recorded the highest condominium sales.
  • Popular Price Range: $150,000-$174,999, representing 12% of total sales. 

Residential Attached Homes:

• • Sales Growth: Up 27% over October 2023, continuing to drive increased market activity and demand.

 Year-to-Date (YTD) Metrics (January to October 2024)

• Total MLS® Sales: 12,822, up 12% from 2023.
• Total Listings: 20,692, up 2% from the previous year.
• Total Dollar Volume: Over $4.8 billion, up 18% year-over-year.
• Residential Detached: 8,848 sales YTD, with an average price of $423,217, up 6%.
• Condominiums: 1,923 sales YTD, with an average price of $275,777, up 6%.
• Residential Attached: 885 sales YTD, with an average price of $365,218, up 10%.

Market Insights and Advocacy Efforts

The Winnipeg Regional Real Estate Board has continued its advocacy work, joining other Canadian real estate boards at the Canadian Real Estate Association’s PAC Days Conference in Ottawa. The Winnipeg Regional Real Estate Board emphasized solutions to the current housing crisis, including recommendations for offsite construction, national housing initiatives, and extending tax relief to non-profit housing providers. Marina R. James, CEO of Winnipeg Regional Real Estate Board, reaffirmed the board's commitment to addressing housing affordability and supporting meaningful community solutions.

Notable Neighborhoods in October

• Waverley West recorded the highest residential detached sales within Winnipeg, followed by Polo Park.
• Outside of Winnipeg, Steinbach and Morden/Winkler were the leading areas for detached home sales.
• Osborne Village led in condominium sales, with Waverley West close behind.

Luxury Market

There were 17 residential detached homes sold at or above $1 million in October, nearly doubling from 8 in October 2023. The highest sale reached just over $2.3 million.

Summary

October 2024 was one of the most active months on record, reflecting Winnipeg's strong market fundamentals and buyer interest across property types. Continued growth in both urban and suburban areas, coupled with proactive market support from Winnipeg Regional Real Estate Board, positions Winnipeg as a thriving and resilient market moving into the final months of 2024.