Smart Moves in Winnipeg Real Estate

📈 December 2024: Strong Finish for the Market

December 2024 ended on a high note with 742 MLS® sales, up 19% compared to December 2023. While sales were slightly 3% below the 5-year average, this was still the third-best December on record, showing how resilient Winnipeg’s real estate market has been.

Active listings dropped to 2,393, a 19% decline year-over-year. This tightening inventory created buyer competition, driving up total dollar volume to over $272 million, a 22% increase from last December.

Breaking it down:

• Residential-detached homes: 468 sales, up 15%, with an average price of $423,908, a 4% increase year-over-year.

• Condominiums: 120 sales, up 18%, with an average price of $272,728, a modest 1% increase.

Both property types performed well, with detached homes remaining the top choice for families. Condos continued to attract first-time buyers and downsizers.

📊 2024 Year-End Numbers Show Continued Growth

The entire year of 2024 proved to be remarkable for Winnipeg real estate. Total MLS® sales reached 14,597, up 13% from 2023. The total dollar volume exceeded $5.5 billion, a 20% increase, showcasing the strength of demand and rising property values.

Here’s a closer look at the year’s top performers:

• Detached homes: 9,987 sales, up 11%, with an average price of $423,878, a 6% increase from 2023.

• Condos: 2,194 sales, up 13%, with an average price of $274,201, also up 6%.

• Attached homes: 1,039 sales, up 21%, with prices rising 10% to an average of $365,965.

These numbers reflect a firm market across all property types, with growing demand and rising prices benefiting sellers throughout the year.

🌟 Spring 2025: A Seller’s Market is Coming

All signs point to Spring 2025 being a strong seller’s market. Here’s why:

• Lower interest rates make it easier for buyers to qualify for mortgages, increasing competition for available homes.

• The market’s momentum from November and December will likely carry into the new year.

• Spring is historically the busiest time of year for real estate, as more homes come to market and buyers are eager to move before summer.

For sellers, this is an excellent opportunity to maximize your return:

• Prepare your home early: Clean, stage, and make small updates to stand out in a competitive market.

• Price your home strategically: The right price can attract multiple offers and even spark bidding wars.

For buyers, the key will be acting quickly:

• Get pre-approved: This will give you a competitive edge when making an offer.

• Work with an experienced agent to identify properties when they hit the market.

With tight inventory, rising prices, and strong demand, Spring 2025 could be one of Winnipeg’s most competitive seasons in recent memory.

🚀 Don’t Miss Out on the Opportunities Ahead

Winnipeg’s real estate market thrives, offering opportunities for buyers and sellers alike. Whether you want to purchase your dream home or sell for top dollar, now’s the time to move.

👉 Read the Full Market Report Here

📊 Year-End Totals: 2024 at a Glance (comp. to 2023)

📈 14,597 MLS® Sales in 2024 (+13%)
💸 5.5 Billion Dollar Volume (+20%)

🏠 Detached Homes:

• 9,987 Sales (+11%)

• Average Price: $423,878 (+6%)

🏢 Condos:

• 2,194 Sales (+13%)

• Average Price: $274,201 (+6%)

🏡 Attached Homes:

• 1,039 Sales (+21%)

• Average Price: $365,965 (+10%)

Why First-Time Buyers Should Think Outside the Box 🏡

When buying their first home, many buyers are drawn to well-known neighborhoods like St. Vital, St. Boniface, and the south end of Winnipeg. These areas are undeniably desirable but have a downside: intense competition.

High demand in these neighborhoods often leads to bidding wars, skyrocketing prices, and frustration for first-time buyers trying to stay within their budget.

But here’s the good news: Winnipeg is full of excellent neighborhoods with affordability, community charm, and great amenities—without the stress of competing with dozens of other buyers.

Instead of following the crowd, consider areas that may not be on everyone’s radar. East Kildonan, Transcona, The West End, The Maples, and Garden City are fantastic options for first-time buyers. These neighborhoods combine:

• Affordable home prices: Stretch your budget further while finding a place you love.

• Family-friendly communities: Schools, parks, and recreation facilities are plentiful.

• Convenience: Shops, restaurants, and easy commuting options are all within reach.

Choosing one of these up-and-coming neighborhoods can mean less stress, more value, and even room to grow your investment over time. Plus, you’ll have the chance to explore areas with unique character and vibrant communities.

Don’t let the allure of trendy neighborhoods lead to frustration or overextending your budget. Take a closer look at Winnipeg’s hidden gems—they might surprise you!

👉 Explore the Best Neighborhoods for First-Time Buyers

Make your first home-buying experience a positive one by thinking strategically. The perfect neighborhood—and home—is out there waiting for you! 🏠✨

🎙️ Love Real Estate Tips? Tune In to Winnipeg's Real Estate Podcast - 2025 and Beyond!

Dive deeper into Winnipeg’s real estate market with expert insights, tips, and strategies for buyers, sellers, and homeowners. Whether you’re a first-time buyer or a seasoned investor, there’s something for everyone!

👉 Listen Now and stay ahead in the market! 🏡✨