Winnipeg May Real Estate Report

WINNIPEG — This past May — with the exception of the over 2,000
sales transacted in May 2021 — was an outstanding month as it
outperformed every other May previously. The 1,723 sales were a
decrease of 14% from the same month in 2021 but are up 4% over
the 5-year average.
May’s dollar volume of $690.4 million is another story as this total
even held its own against May 2021 which was the highest dollar
volume month on record at $692.6 million. This development alone
shows the ascendancy of prices from a year ago, with the average
price for all MLS® sales now being $400,707 versus $345,269 in
2021.
“While playing some catch-up this spring on one that has been
delayed from a harsh, long winter, prices have been well ahead of
2021 from the very beginning. Rising interest rates are
upon us with more to come, and that, in combination with a healthy
injection of new listing supply, should help slow the pace of price
increases as evident already from this month.”
Both active listings, or current inventory, and new listings coming
on the market in May, caught up with last year as until now they
had been lagging considerably. In April, for example, both active
and new listings were off by 19% compared to the same month in
2021 with only 1,892 new listings.
In May, active listings of 2,747 are down less than 1% from last year,
while the 2,658 new listings are an increase of 5%. Early June shows
active listings total over 3,000.