Manitoba Real Estate Association MLS® home sales grow stronger in September
The number of homes sold through MLS® Systems of real estate boards in Manitoba totaled 1,365 units in September 2024. This was a sizable gain of 11.8% from September 2023.
Home sales were 4.8% below the five-year average and 1.7% above the 10-year average for the month of September.
On a year-to-date basis, home sales totaled 12,448 units over the first nine months of the year. This increased by 9.5% from the same period in 2023.
“The strength in home sales demand continued in September, with activity coming in at more typical levels for this time of year but also posting the third best September on record,” said Sandy Donald, President of the Manitoba Real Estate Association. “New listings have been more or less flat overall over the past year while sales have been on the rise. As a result, overall inventory levels have gradually declined, and our provincial market has tightened noticeably. With demand outstripping supply it’s no surprise that average prices have posted an almost consecutive string of gains over the past 12 months.”
The average price of homes sold in September 2024 was $362,137, a modest gain of 3% from September 2023.
The more comprehensive year-to-date average price was $369,087, up by 5.3% from the first nine months of 2023.
The dollar value of all home sales in September 2024 was $494.3 million, an increase of 15.2% from the same month in 2023.
The number of new listings saw a moderate gain of 4.2% from September 2023. There were 2,090 new residential listings in September 2024.
New listings were 0.6% below the five-year average and 3.4% below the 10-year average for the month of September.
Active residential listings numbered 3,736 units on the market at the end of September, decreasing by 7.8% from the end of September 2023.
Active listings were 2% below the five-year average and 19.2% below the 10-year average for the month of September.
Months of inventory numbered 2.7 at the end of September 2024, down from the 3.3 months recorded at the end of September 2023 and below the long-run average of 3.5 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
BOARD & ASSOCIATION INFORMATION
Founded in 1949, the Manitoba Real Estate Association represents more than 2,600 real estate professionals throughout the province. MREA uses its expertise to build, empower and uphold a trusted and sustainable real estate profession to ensure Manitobans value the role that REALTORS® have in building stronger communities, and in helping Manitobans through the most financially impactful decisions of their lives.
REALTOR® is a trademark, that identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.
For more information,
please contact:
Manitoba Real Estate Association
1873 Inkster Blvd
Winnipeg, MB, R2R 2A6
Tel: 204-772-0405
Web: https://realestatemanitoba.com/
Sandy Donald
