Winnipeg Real Estate Market : MLS Map & 2022 Statistics

The real estate market is ever-changing; it's highly important to keep up-to-date with key statistics regarding realty. Throughout the pandemic, Winnipeg saw a lot of variation in transaction levels and prices have steadily been on the rise. That's not to say we won't see sales level out and prices decrease again, but you'll want to keep checking the statistics if you're looking to buy, especially for investment opportunities.

Our team of realtors will do our best to keep the real estate market statistics updated and relevant as they change. Please scroll to the bottom of the page if you're looking for the MLS Map with correlating neighbourhoods.

2022 Average House Prices by Zone

The average Winnipeg property prices are based on sales during Oct 2022 (Oct 1st - 31st):

South West Region of Winnipeg	South East Region of Winnipeg
Residential Detached: $497,194.00	Residential Detached: $464,160.00
Residential Attached: $418,577.00	Residential Attached: $350,390.00
Condos: $270,752.00	Condos: $299,072.00
North Region of Winnipeg	North East Region of Winnipeg
Residential Detached: $302,007.00	Residential Detached: $325,997.00
Residential Attached: $291,676.00	Residential Attached:$315,352.00
Condos: $237,483.00	Condos: $290,111.00
West Region of Winnipeg
Residential Detached: $313,558.00
Residential Attached: $267,166.00
Condos: $163,250.00

 

2022 Real Estate Market Statistics 

In October, there were a few market changes relating to MLS listings and average home prices: 

* October sales were impacted by cost of living concerns combined with a rapid rising interest rate environment which saw the Bank of Canada increase its overnight lending rate from 0.25% in March to 3.75% in October 2022.

* To reference MLS® activity in the past 2 years, October MLS® sales of 1,063 decreased 30% from October 2021 and 33% from the record-setting October in 2020.

* Single-family home activity was most active under $400,000 with 50% of sales occurring under $350,000 and another 13% from $350,000 to $399,999. The highest sale price was $1,550,000 and the lowest was $19,900.

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In September, there were a few market changes relating to MLS listings and average home prices: 

* Septembers as sales decreased 20% and 32% from 2021 and 2020 respectively. The 1,205 MLS® sales transacted this September are much more aligned with the most immediate prepandemic year of 2019 which had 1,211 sales.

* New listings coming onto the market in September are up 12% from last year and only down 1% over the 5-year average.

* Thirty-four distinct MLS® areas had percentage conversions of 89% or higher in 2021 compared to only three this year. The highest one this year at 93% conversion is Tyndall Park. Second was Mandalay West at 90%.

* The average sale price in Winnipeg for September 2022 was $361,338, representing a 6.3% year-over-year increase and 10% lower than in June 2022.

* Condo's average price increased by 15% year-over-year to $266k.

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In August, there were a few market changes relating to MLS listings and average home prices: 

* The Winnipeg Regional Real Estate Board reports that August MLS® sales activity showed a drop off from July and previous August months in the last few years. Sales of 1,375 are down 15% from August 2021 and 9% over the 5-year average. 

* New listings are slightly up in August, but we're still seeing fewer above-list price offers. 

* The total dollar volume of $515 million, on 1,496 sales, was down 14.3% from July and 10.8% from last August.

* Average sq. ft. for detached houses is 1,333, for attached houses, it's 1,252, and for condos is 1,074.

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In July, there were a few market changes relating to MLS listings and average home prices: 

* At the end of July there were 3,700 active MLS listings available, compared to half that amount in the first four months of 2022.

* There were less sales in July than June: 124 - detached, 84 - attached, and 221 - condominiums. 

* It is also worth noting that the 221 condominiums sold in July were only two fewer than July 2021, and year-to-date sales of 1,457 are much closer in sales activity to 2021 than other property types with respect to last year at this time.

* Akash Bedi from the Winnipeg Regional Real Estate Board reports “Above list price sales for both single-family homes and condominiums are trending down from what they were earlier in the year. July single-family percentages of above list price versus below list price sales are the reverse of the year-to-date ones with below list price sales this month at 55% when they are 35% for the year.”

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So far, Winnipeg has had a strong real estate market for 2022 and it's projected to have modest growth throughout the year. If you're looking to buy a home this year, keep these statistics in mind (YTD May 2022):  

* The average price of residential property in 2022 has exceeded $400,000. Which is a first for the city of Winnipeg.  

* Detached home prices increased by 14% year-over-year to $440k (14% increase year-over-year) 

* Attached home prices increased by 11% year-over-year to $349k (11% increase year-over-year) 

* Condo prices increased by 5% year-over-year to $261k (5% increase year-over-year) 

* Across Canada, Winnipeg is seen as a more affordable housing market and that could attribute to our rapid population growth.   

* Currently, the Bank of Canada's key policy rate is set at 1.50%, as of June 2022. We may see it increase to as much as 2.0% before the end of the year.

 

FAQs about MLS Listings

What does MLS stand for and what is the purpose? 

MLS: Multiple Listing Service. MLS is a database full of properties for sale. Real estate agents can advertise homes, condos, vacant land, etc., that are for sale. Realtors also browse these listings to make recommendations for buyers. 

Can anyone post an MLS listing? 

No, you must be a licensed realtor to publish MLS listings.  

Where can I find recent MLS Listings for Winnipeg? 

You have a few options. You can browse Ed Dale's team listings. If you haven't found your dream house there, check out our Brokerage's MLS listings. Ideally, it's best to reach out to a real estate agent directly and they can recommend specific MLS listings based on your requirements. Although, there are many websites that advertise houses for sale that pull from MLS listings. 

Are websites like Zillow.com and Realtor.com MLS?

Nope! They're popular websites that showcase and advertise homes for sale and display MLS listings. 

Are there benefits to buying houses that are MLS listed? 

Not really. MLS is a database that realtors can utilize, the platform doesn't offer any special offers or benefits to the public directly. Although, only licensed realtors can publish listings. Therefore, the information is deemed to be more accurate and official. 

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