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Manitoba Real Estate Market Update: July 2021

Winnipeg is still in a seller’s market! Of the homes that were listed in July, a whopping 57% of them sold within the same month. And 54% of those sold for over asking price! This is causing average selling prices to continue to climb, even though new listings and sales have been declining month over month. There were 8 sales over $1 million and the most active price ranges were from $500,000 to $749,999 and from $300,000 to $349,999.

In a seller’s market like Manitoba’s, the guidance of experienced REALTORS® is an invaluable asset for both buyers and sellers. Speak to a local Purplebricks REALTOR® to learn about the latest trends in your region and discover how we can help you reach your real estate goals.  

The Winnipeg Regional Real Estate Board (WRREB)  reports: 1 2

  • Market: Seller's Market   
  • Sales: 1,678 (down 12% year over year and down 14% month over month) 
  • New listings :2,172 (down 10% year over year and down 9% month over month) 
  • Active listings: 2,919 (down 34% year over year and up 5% month over month) 
  • Sales-to-new-listings ratio: 77% (previous month was 82%) 
  • Average detached selling price: $377,789 (up 7% year over year and down 5% month over month) 
  • Average townhouse selling price: $321,334 (up 18% year over year and up 7% month over month) 
  • Average condo selling price: $258,770 (up 10% year over year and up 3% month over month) 

Comments from WRREB President Kourosh Doustshenas: "If you look at 2021 as a full year marathon, not shorter runs such as weekly or monthly periods of time, the blistering pace set earlier in the year (e.g., over 2,000 sales in April and May) has evidence of slowing down. Sales are still well on pace to finish the year in record fashion."  

Purplebricks supports Canadians by providing full-service real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive $2,000 cash back* when they purchase a home with one of our REALTORS®. Call 1-855-999-9740 to learn more.

Randall Weese is the Director of Compliance and Brokerage Services at Purplebricks, where he is also the licensed Broker of Record for Ontario, Broker for Alberta, and Associate Broker for Manitoba. A REALTOR® with 14 years’ experience in Ontario, Randall has worked in a variety of business models within the real estate industry. He has been a REALTOR® at one of the largest brokerages in Canada, managed a boutique brokerage, and founded and operated his own brokerage in the Greater Toronto Area. Throughout his career, he has acted as a listing agent on thousands of homes across the country.

Statistics presented herein are rounded to the nearest whole number for readability. Exact statistics can be found using the references provided. The Canadian Real Estate Association calculates benchmark prices using the MLS® Home Price Index (HPI), which uses data from a region to define a “typical” home. Benchmark prices can reflect the changes to a region’s property value far more accurately than average or median prices. Statistics presented herein are rounded to the nearest whole number for readability. Exact statistics can be found using the references provided.