Looking to make a move in the Manitoba housing market but unsure about timing? Let's dive into the current trends to help you make informed decisions.

In 2024, with the Bank of Canada holding the rate steady at 5%, we've witnessed a notable increase in sales, listings, and dollar volume. Specifically, comparing January 2023 to January 2024, there's been a remarkable double-digit percentage surge in Multiple Listing Service (MLS) sales for both residential and condominium properties.

Across the Winnipeg region, Multiple listing services ( MLS)property sales have risen by 14% since January 2023, with active listings increasing by 7% year-over-year and surpassing the 5-year average by 8%. The total dollar volume of MLS sales in January 2024 exceeded $236 million, marking a substantial 26% increase over January 2023 and a 2% rise above the 5-yearaverage

Notable residential areas like East Transcona and Waverley West have emerged as leaders in January's home sales, with the average price for residential detached homes climbing by 8% compared to January 2023 and surpassing the 5-year average by the same margin. Condominiums have seen even more significant growth, with prices soaring by 20% year-over-year and exceeding the 5-year average by 16%. This surge in demand has led to a 10%increase in sales and a 20% hike in average prices compared to last year

These trends indicate a market where house prices are continuing to rise, prompting buyers to act with urgency and strategically to secure properties. Sellers, on the other hand, find themselves in an advantageous position, given the scarcity of inventory and the upward trajectory of prices.

Whether you're considering buying or selling, I'm here to provide expert guidance and support tailored to your needs. Let's discuss your objectives and develop a plan to navigate this dynamic market together.