Market Stats 18 May 2021

April 2021 – Winnipeg Market Stats

For the first time in the history of monthly MLS® sales, the Winnipeg Regional Real Estate Board’s April sales tipped over the 2,000 threshold. The 2,055 sales in April edged out last month’s sales of 1,975 and are up 53% over the 5-year average for this month. Dollar volume set a new record monthly high as well in April with $678.3 million transacted in sales — a 65% rise over this month’s 5-year average.

The 2,615 listings remaining at month end are down 41% from the same time last year despite a dramatic fall off in new listings entered in April 2020 due to the pandemic economic shutdown. The good news is that year-to-date cumulative listings of 8,066 represent a 10% increase over 2020 and are less than 1% behind those entered in 2019.

Year-to-date MLS® sales after 4 months are 6,197, a 76% gain over the same period in 2020 while dollar volume of $2.0 billion increased 96% compared to 2020. The conversion of listings to sales is another metric indicating a supercharged market with 77% of all listings being sold. In the previous 5 years, this percentage has never attained 50% and you have to go back to 2004 and 2005 when the conversion percentage was as high as it is this year.

As for house prices, April was notable for a few reasons.

The southwest area of Winnipeg saw its average residential detached sales price go over $500,000 to end up at $521,625 and also be at the half million dollar mark for the first 4 months. Given this area of Winnipeg has a significant portion of sales within the city, it is not surprising Winnipeg’s average residential detached sales price was skewed upward to reach just under $400,000 in April. The region outside Winnipeg ended up at $351,000.

April also ushered in 13 one-million plus sales with nine selling in southwest Winnipeg, including the highest one at $2,250,000. Higher priced house sales were also evident in the price range sales activity chart with the $500,000 to $749,999 capturing the most sales activity at 17%. A close second was from $300,000 to $349,999 at 16%.

The brisk condominium sales in April saw the most sales activity at nearly 30% of total sales from $150,000 to $199,999 with the next busiest price range of $200,000 to $249,999 well behind at 18%. And not shockingly with all the bidding wars and lack of detached housing options, many buyers are looking at condominiums as alternatives. This likely explains why they have seen the biggest gain thus far with a 115% increase in sales over the same period last year.

If you have any questions about the real estate market, don’t hesitate to reach out.

Justin Pokrant
Winnipeg Realtor
www.justinpokrant.com
204.997.5876

Market Stats 8 April 2021

March 2021 – Winnipeg Market Stats

The Winnipeg real estate market is on fire and once again breaking records for new all-time monthly record for MLS® sales and dollar volume.

Check out some of these statistics:

  • Average sale price is up 16% to $370,000 for detached homes year-to-date compared to last year and up to $384,000 for the month of March.
  • Active listings are down 46% compared to March 2020 = little inventory to choose from.
  • 1 out of 2 homes are selling above asking price compared to 1 out of 5 in 2020.
  • 1975 sales – an 80% increase over 2020.
  • For the first time ever the most active price range was from $500,000 to $749,999 with nearly 18% of total sales.
  • Dollar volume took off as well with $663.9 million transacted – a 98% increase over the same month last year.
  • Condominium sales in March increased 116% over March 2020 and are up 81% for the first three months over the same period last year.

If you have been thinking about selling, now may be the perfect time for you to do it. With low inventory and low mortgage rates, there are very motivated buyers out there waiting for a place to pursue aggressively.

And if you are looking to avoid the crazy bidding wars happening right now where homes are selling for way above asking price, there are many condominiums still available as a very affordable alternative.

If you have any questions about the current real estate market in Winnipeg or need help buying or selling a property, send me a message or give me a call at 204.997.5876

Justin Pokrant
Winnipeg Realtor
Century 21 Bachman & Associates
204.997.5876
www.justinpokrant.com