Looking at the numbers, it's hard to argue contrary to the fact that the Winnipeg real estate market is heating up. There are many homes seeing multiple offer scenarios. I have seen homes sell $100K over list price. Buyers may interpret this as not so good news. Sellers, on the other hand, will have a positive outlook. Even with the BOC keeping interest rates steady, and some doom and gloom naysayers, Winnipeg is still one of the most affordable cities in Canada.
Here is what Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board, has to say about February's '24 Winnipeg real estate market:
“For the third consecutive month, total MLS® sales, listings, dollar volume and average prices increased over the previous year, marking a positive trend in our market region. When compared to last year, February 2024 saw residential detached MLS® sales rise 15%, condominium MLS® sales rise 21% and residential attached MLS® sales rise 62%. Average prices for these property types also rose over last year and the 5-year average. MLS® sales for all MLS® property types across the Winnipeg Regional Real Estate Board's market region are up 22% over last February, and 11% below the 5-year average. Active MLS® listings for all MLS® property types are up 8% from last February and 10% above the 5-year average. The total dollar volume of MLS® sales in February was over $276 million which is 26% above last February and 7% below the 5-year average."
CLICK HERE to read the full market release.
