MLS® Active Listings and Sales Rise in March 2023
According to the WRREB, March saw 3,368 active MLS® listings across the market region, with 1,565 in Winnipeg and 1,803 in rural areas outside of the city. This number is up from last year, but still has room to grow before reaching the pre-pandemic levels.
In terms of sales, there were 1,014 MLS® sales across the market region in March, with 664 in Winnipeg and 350 in rural areas. Although these figures fall short of the record sales totals set in March 2021 and 2022, they exceed pre-pandemic levels.
Residential Detached Listings and Sales in Winnipeg
Out of the 1,612 residential detached MLS® active listings across the market region, 773 were in Winnipeg and 839 in rural areas. As for sales, there were 698 residential detached MLS® sales, with 471 in Winnipeg and the remaining 227 in rural areas.
Condominium Listings and Sales in Winnipeg
When it comes to condominiums, there were 443 active listings across the market region, with 315 in Winnipeg and 128 in rural areas. March recorded 149 MLS® condominium sales, with 122 in Winnipeg and 27 in rural areas.
Expert Insights from WRREB Leaders
Akash Bedi, outgoing 2022-2023 WRREB President, expressed satisfaction with the growth in MLS® sales and active listings at the end of the first quarter of 2023. He also noted that March marked the first time since the market shift in mid-2022 that MLS® sales surpassed pre-pandemic levels.
Bedi’s tenure as the WRREB President will soon come to an end, with Rena Prefontaine taking over for the 2023-2024 term. Prefontaine will provide monthly MLS® market updates to keep buyers and sellers informed throughout the year.
The Role of REALTORS® in the Spring Real Estate Market
As the spring real estate market unfolds, WRREB CEO Marina R. James emphasizes the importance of leveraging the expertise of REALTORS® in navigating neighborhood trends and providing valuable market intelligence. With professional advice and objective feedback, REALTORS® help alleviate the stress for buyers and sellers during one of the most significant financial decisions of their lives.
If you are planning to sell this spring, or have more questions about the Winnipeg Real Estate market as a whole, contact Gino Cipriano at 204-955-5853