As the Winnipeg real estate market continues to evolve, staying informed about the latest trends is essential. In this blog post, I’m excited to provide you with a comprehensive overview of July’s MLS® sales in Winnipeg. Additionally, I’ll delve into a Mid-Summer Lake Country Real Estate Market Update, focusing on key areas within the Winnipeg Regional Real Estate Board’s market region. Whether you’re a buyer, seller, or simply interested in the local real estate scene, this post will offer valuable insights.
July MLS® Sales Overview
The data reveals that July’s MLS® sales in Winnipeg experienced a slight decrease compared to the previous month, last July, and the 5-year average. However, the perspective shifts when considering the 5-year average of Julys before the pandemic. According to Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board, July 2023 MLS® sales are tracking similarly to the 5-year average, signifying a balanced market.
A Closer Look at MLS® Sales
All MLS® sales in July were 15% lower than June, 11% lower than July 2022, and 14% below the 5-year average. Notably, July’s MLS® sales performance was just 2% below the 5-year average from 2015 to 2019, pre-pandemic. Active MLS® listings, however, increased by 3% from June, 16% from last July, and were statistically on par with the 5-year average.
Residential Detached and Condominium Sales
Of the 971 residential detached MLS® sales, 623 occurred in Winnipeg, and the remaining 348 in areas outside of Winnipeg. Meanwhile, condominium sales totaled 202 across the Winnipeg Regional Real Estate Board’s market region, with 175 in Winnipeg and 27 outside. The average price for a residential detached home rose by 2% over last July, while the condominium average price was 6% below July 2022.
Mid-Summer Lake Country Market Update
In addition to the MLS® sales update, we’re excited to present a Mid-Summer Lake Country Real Estate Market Update. Explore trends in areas like Lac du Bonnet, Lake Manitoba – East Side, Lake Winnipeg – East Side, Lake Winnipeg – West Side, and Winnipeg River. Gain insights into increased listings, average prices, and days-on-market trends, as well as expert perspectives from Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board.