Article content
The Winnipeg Regional Real Estate Board reported robust figures for the May 2024 real estate market, demonstrating a substantial increase in multiple listing sales and average prices compared to the same period last year.
Article content
According to the latest report released on Tuesday, there were 1,726 MLS sales for May 2024, marking a 22% surge from April and a solid 14% rise over May 2023. Active MLS listings reached 4,100, a slight 1% increase from the previous year, while the total MLS dollar volume soared to $663 million, representing an 18% uptick compared to May 2023.
Residential-detached MLS sales jumped 12%, with 1,189 transactions, accompanied by a 4% rise in the average price to $425,380 compared to the same period last year. Similarly, condominium MLS sales experienced a substantial 25% surge, with an average price of $277,308, up 4% over May 2023. Meanwhile, residential attached MLS sales saw a 10% rise, with an average price increase of 10% to $365,346 over the previous year.
Article content
Daphne Shepherd, the 2024-25 president of the Winnipeg Regional Real Estate Board, emphasized the continuation of the upward trend in the market.
“This is noteworthy because the best May on record in 2021 and the third best May on record in 2022 are included in the results of the last five years, and this underscores the strength of this May’s real estate market performance,” Shepherd said. “For the sixth consecutive month, residential-detached, condominiums, and residential-attached homes all saw increases in average prices over last year and the five-year averages.”
Year-to-date figures for residential-detached MLS sales reflected a robust 15% increase, totalling 3,854 transactions compared to May 2023. The average prices for residential-detached properties surged by 6% to $420,457, while the year-to-date residential-detached dollar volume witnessed a remarkable 23% rise to $1.6 billion compared to the same period last year.
As the real estate market in Winnipeg continues to demonstrate resilience and strength, stakeholders are optimistic about the outlook for the remainder of the year, buoyed by sustained growth and a favourable economic landscape.
Share this article in your social network