Market Update June 2023: First half MLS® sales pace close to those from 2019 and 2020!

                                                       Detached                Attached           Condominiums

WINNIPEG, July 12, 2023 – MLS® sales in June rose slightly from last month while falling short of last June and the 5-year average. Active listings rose from last month and last June while coming to within 1 percentage point below the 5-year average.

 June MLS® sales grew to 8% below the 5-year average while beating out 2019, the last year before the pandemic began, by 6%.

 Total MLS® sales for the first half of 2023 were below the record years of 2021 and 2022 but were only 5% and 4% below the first halves of 2019 and 2020, respectively. Meanwhile, condominium sales for June were the highest on record, beating out the previous record set in June of 2021 by 8%."

 The number of MLS® listings for the first half of 2023 came in at 11,904 which is 2% above the first half of 2022 and 6% below the 5-year average.

                       
                                Residential-Detached
                       June 2023      vs. 2022      vs. 5-Year Avg.
Active Listings       4,134        20.54% (3,77)     -1% (4,200)
Total Sales           1614         -10% (1,792)      -8% (1,751)


 Of the 1,133 residential detached MLS® sales across our market region, 774 were in Winnipeg while the remaining 359 occurred 
in the rural areas outside Winnipeg. Of the 2,174 residential detached active MLS® listings, 984 were in Winnipeg while 1,190 were in the rural areas outside Winnipeg.

 The average price for a residential detached home fell 2% over June of last year but is up 9% over the 5-year average. Meanwhile, the average price for the first half of 2023 is down 8% over the first half of 2022 but is up 7% over the 5-year average.

 Residential detached MLS® sales saw 58% sold under list price compared to the 37% that sold under list in June 2022.

 Residential detached homes made up 70% of all MLS® sales in June. Southwest Winnipeg had the most sales within the city, representing 21% of all Winnipeg residential detached home sales. The rural area outside Winnipeg represented 32% of all MLS® residential detached home sales.

                                 Residential-Attached                       
                     June 2023     vs. 2022      vs. 5-Year Avg.
Active Listings      279           21%(231)        22%(229) 
Total Sales          110           -19%(136)       -11%(89) 
Average Price        $346,843      2%($339,230)    15%($300,555) 

 Of the 110 total MLS® residential attached home sales in June, 81 were in Winnipeg and the remaining 29 occurred in the rural areas outside Winnipeg. Of the 279 active listings for residential attached homes, 165 were in 
Winnipeg and 114 were in the rural areas outside Winnipeg.    
                            
                                  Condominiums

                     June 2023     vs. 2022      vs. 5-Year Avg. 
Active Listings      468           -2%(478)        -29%(659) 
Total Sales          251           10%(229)        16%(216) 
Average Price        $258,170      -7%($278,266)   0%($258,236)

 Of the 251 total MLS® condominium sales across the Winnipeg Regional Real Estate Board's market region in June, 210 were in Winnipeg and the remaining 41 occurred in the rural area outside Winnipeg. Of the 468 active listings for condominiums, 348 were in Winnipeg and 120 were in the rural areas outside Winnipeg.

 The average price for a condominium in June was 7% below June of 2022 and even with the 5-year average. The average price in the first half of 2023 was 3% below the first half of 2022 and 3% higher than the 5-year average.

 MLS® condominium sales saw 69% sold under list price compared to the 46% that sold under list in June 2022.

 Southwest Winnipeg led the way in MLS® condominium sales, with the most sales coming in the Osborne Village/Crescentwood neighbourhood.

 MLS® condominium sales continued their strong performance with a first half result that ranks 3rd best in history!On a monthly basis, MLS® condominium sales in June resulted in 10% more sales than the same month last year. Although the average condominium price has come down from last June, it remains consistent with the 5-year average.

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This information is courtesy of
Michael Leclerc Royal LePage
Top Producers Winnipeg MB
Phone (204) 792-6453