Manitoba real estate market to grow in January 2024

Manitoba's real estate market started the year with another month of growth, with sales across all property types up 14 percent last January.

The Winnipeg Regional Real Estate Board (WRREB) released data for January on Thursday, showing sales, listings, dollar volume and average prices for all three major housing types were up year-over-year.

This follows similar increases in December 2023.

“It was exciting to see 2023 end with growth in many statistical categories, but it was even more exciting to see 2024 begin based on this statistical trend,” said Board President Renae Prefontaine.

While sales rose 14 percent in January, that's still eight percent below the five-year average.

Listings across all property types were seven percent higher than last year and eight percent higher than the five-year average.

Total sales topped $236 million, up 26 percent from last January and two percent above the five-year average.

The bulk of the 443 residential sales on the Winnipeg market in January, with 287 in Winnipeg and the rest outside the city. Transcona East led the way with the most single-family homes sold in January, followed by Waverly West.

Meanwhile, the Steinbach area saw the most single-family home sales outside of Winnipeg, followed by the Morden-Winkler area.

The most active single-family home price range in January was $325,000 to $349,999, accounting for eight percent of all single-family home sales.

A close second was the $550,000 to $599,999 price range.

There were seven single-family homes that sold for $1 million or more in January 2024, and three in January 2023.

Meanwhile, 99 condos were sold in January, 86 of which were in Winnipeg.

Osborne Village saw the most apartment sales, followed by downtown.