Winnipeg Real Estate Market Statistics - September 2024

As we move into the fall season, Winnipeg's real estate market shows dynamic shifts, with noticeable trends shaping buying and selling opportunities.

Drawing on data from Winnipeg Real Estate News, this September 2024 update breaks down the latest market statistics, including pricing trends, inventory changes, and key takeaways for those looking to make a move this season. 

Whether you’re a homeowner considering selling or a buyer eager to enter the market, this update will provide the insights you need to navigate Winnipeg’s current real estate landscape.

Highlights

• Residential Detached Market: With 1,987 active listings and 884 sales, the average price for a detached home is $410,004, and the average size is 1,342 square feet.

• Condominium Market Trends: There are 469 active listings, with 174 sales. The average price for a condo is $277,334, and the average size is 1,058 square feet.

• Residential Attached Homes: There were 262 active listings and 79 sales of residential attached homes, with an average price of $360,739 and an average size of 1,329 square feet.

• Year-over-Year Regional Sales Growth: Across the MLS areas, average prices increased by 5% to $422,589, and sales increased by 9%. Steinbach had an 11% price increase, while Niverville/Ritchot saw a 26% growth in unit sales.

• Residential Attached - Inside vs. Outside Winnipeg: Sales of attached homes inside Winnipeg were up 12%, with an average price increase of 9% to $376,675. Outside Winnipeg, sales rose by 50%, though the average price dropped by 3% to $316,724.

Winnipeg Regional Real Estate Board

The Winnipeg Regional Real Estate Board, founded in 1903, is one of Canada's oldest. It serves over 2,400 licensed professionals in Winnipeg, offering resources to enhance professionalism and support industry growth.

As a collective voice for residential and commercial REALTORS®, it is governed by an elected voluntary Board of Directors. It plays a key role in advancing the real estate industry while enriching local communities.

WRREB's September Market Release Video

The real estate market results for September 2024 saw increases in both MLS® sales and dollar volume compared to 2023 and September 2022.

This video is hosted by 2024-2025 Winnipeg Regional Real Estate Board President Daphne Shepherd, who provides an overview of the latest trends in the region's real estate landscape.

Residential Detached MLS Sales for September 2024

The chart illustrates the September residential-detached MLS® sales fluctuations from 2015 to 2024. After reaching a peak in 2020, sales dipped in the following years, with 2023 marking a significant decline.

However, 2024 shows a recovery, with sales bouncing back close to the levels seen before the pandemic. This rebound highlights a renewed buyer interest in the detached housing market in Winnipeg despite the variations seen in recent years.

The overall trend over this period reflects the market's resilience, particularly following the disruptions of 2020 and 2021.

Strong Sales and Price Growth in September 2024

The September 2024 market data shows notable growth across the Winnipeg Regional Real Estate Board’s residential-detached market. Prices have increased across all MLS® areas by 5%, with an average price of $422,589.

Winnipeg saw a 6% rise in prices, while areas outside the city experienced a 5% increase. Sales have also surged significantly, with total unit sales up by 9%, led by Steinbach’s impressive 18% growth in unit sales.

Niverville/Ritchot stood out with a 26% increase in unit sales, reflecting a strong demand in these regions. Overall, the year-to-date numbers indicate a robust housing market, with both prices and sales trending upward.

Residential Attached Market Sees Mixed Trends in September 2024

In September 2024, the residential attached market showed a mixture of growth and declines across Winnipeg and surrounding areas.

Active listings decreased by 9% compared to 2023, but sales jumped 20%, reaching 79 total transactions.

Average prices also increased by 6%, now sitting at $360,739. Inside Winnipeg, sales were up 12%, while prices rose 9%. However, active listings outside Winnipeg dropped significantly by 22%, even as sales surged by 50%.

Despite this growth in sales, the average price outside the city fell by 3%, highlighting some price softening in these regions.

Residential Detached Market Shows Solid Price Growth in September 2024

The September 2024 data for the residential-detached market reveals a strong performance in sales and prices despite a drop in active listings. Across the market, active listings were down by 9%, but sales rose by 9% to 884 units.

The average price also saw a modest 3% increase, now at $410,004.

Inside Winnipeg, active listings were down by 22%, but sales increased by 10%, with the average price rising by 5% to $432,925. In areas outside Winnipeg, sales grew by 9%, with the average price increasing by 1%, reaching $368,805. While listings remain tight, the steady rise in prices and sales indicates a resilient detached housing market.

Steady Growth in September 2024 Condominium Market

In September 2024, the condominium market saw moderate gains in listings, sales, and prices. Active listings increased by 4%, and sales rose by 3%, totalling 174 units sold. The average price of a condominium reached $277,334, a 2% increase compared to last year.

In Winnipeg, active listings climbed 11%, while sales improved by 7%, with the average price up by 1% to $276,399. Outside Winnipeg, active listings dropped by 17%, and sales decreased by 13%, but the average price saw a 5% increase, reaching $282,211.

These numbers reflect a stable and growing condo market in Winnipeg, though there is some softening activity outside the city areas.

Winnipeg Real Estate Market Insights Across Property Types

The Winnipeg real estate market in September 2024 clearly shows the price and size dynamics across various property types, including condominiums, residential attached, and residential detached homes.

These insights give an overview of the average prices and sizes for different property types, helping buyers and sellers understand the market's state.

Below is a summary of key statistics for each category.

Residential Attached Market Insights

The Winnipeg residential attached market remains active with solid performance across year-to-date and monthly sales, showing slight but notable differences in price and size.

• Year-to-Date 2024
  • Average Price: $363,622
  • Average Size: 1,311 sq. ft.
  • Insight: Year-to-date sales highlight solid pricing and moderate square footage, reflecting overall stability in the market.
• September 2024
  • Average Price: $360,739
  • Average Size: 1,329 sq. ft.
  • Insight: The September snapshot shows a slight decrease in average price compared to the year-to-date average, but a small increase in the average home size.

Residential Detached Market Insights

The residential-detached market in Winnipeg continues to exhibit solid pricing and home size averages, with slight variations between year-to-date and monthly data.

• Year-to-Date 2024

  • Average Price: $422,589
  • Average Size: 1,371 sq. ft.
  • Insight: The year-to-date average price and size show a strong market with high demand for spacious homes.

• September 2024

  • Average Price: $410,004
  • Average Size: 1,342 sq. ft.
  • Insight: While prices dipped slightly in September, home sizes remained close to the year-to-date averages, reflecting stable buyer interest.

Condominium Market Insights

The condominium market in Winnipeg maintained consistent pricing and square footage averages between year-to-date figures and September's monthly data.

• Year-to-Date 2024

  • Average Price: $277,196
  • Average Size: 1,052 sq. ft.
  • Insight: The year-to-date data reflects steady pricing and moderate home sizes, showing a balanced condo market for 2024.

• September 2024

  • Average Price: $277,334
  • Average Size: 1,058 sq. ft.
  • Insight: In September, prices remained virtually unchanged from the year-to-date average, while home sizes slightly increased, indicating stable demand.

Summary

The Winnipeg real estate market remained stable in September 2024 across various property types, with minor variations between monthly and year-to-date data.

Residential attached homes had an average year-to-date price of $363,622, slightly higher than September's average of $360,739, and home sizes showed a small increase in the same period. Residential detached homes maintained strength, with a year-to-date average price of $422,589 and a slightly lower September average of $410,004, while home sizes stayed close.

The condominium market was particularly consistent, with year-to-date and September average prices nearly identical at around $277,000, and home sizes increasing slightly in September.

Overall, these insights indicate a stable and resilient market, with steady demand across all property types in Winnipeg.

For more detailed market statistics and updates, visit Winnipeg Regional Real Estate News.