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Home sales slowing says Winnipeg Regional Real Estate Board

The Winnipeg Regional Real Estate Board captures a glimpse of how the housing market is doing in Manitoba, with the release of its November 2023 market report. Jonathan Hayward / THE CANADIAN PRESS

Sales of homes across the Winnipeg region are slowing down, according to a new report by the local real estate board.

Issued by the Winnipeg Regional Real Estate Board on Thursday, the report highlights a decline in the number of sales for the month of November. The numbers affect condominiums and residential detached houses, compared to the same period last year, show a 13 per cent and 6 per cent decline respectively.

Across the market, there were 843 sales last month. 545 of them were within the city, while the remaining 298 listings were outside Winnipeg.

According to the report, the average price of a detached home was a little over $374,000. For condominiums, that number sat at nearly $246,000, while an attached home had the average price of just under $330,000.

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Unlike detached homes and condos, the region’s outlook with attached homes have fared better. The sale of attached units went up 24 per cent compared to the previous year, along with a 4 per cent increase in the average price.

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“While the number of MLS active listings has fluctuated up and down, percentage increase over the previous year have continued in every month since the market shifted in June of 2022,” stated Rena Prefontaine, president of the real estate board, in the report.

The report further notes that five residential detached units sold at or over $1 million. As for condominiums, November marked the third unit sold at or over $1 million.

The West Kildonan neighbourhood marked the most sales of detached homes for the month.

The real estate board, founded in 1903, serves over 2,500 licensed brokers and salespersons.

Click to play video: 'October real estate report'
October real estate report

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