The average residential sale price in the Winnipeg housing market has increased by 7.7 per cent year-over-over across all property types between January 1 and July 31, 2025 from $438,351 to $471,934. The number of sales increased by 5.9 per cent for the same time period from 4,391 to 4,650. Average sales prices across all property types are expected to increase by three to five per cent through the end of 2025, slightly stronger than last year’s, with the number of sales projected to also increase, by three percent.
Trends in the Winnipeg Housing Market
The Winnipeg housing market in Q4 2024 experienced a balanced market, leaning towards seller for the remainder of the year. Inventory is low (in the average price range), and the market is a balanced market. The region has experienced a balanced market generally for the past few years, seeing high demand for houses (semi-attached & detached) under $500,000. Higher priced properties are following the national trend of taking a little longer time on the market.
New Canadians are the primary drivers of sales in the Winnipeg housing market, a trend expected to continue through the rest of the year. Move up buyers are also becoming more active in the market. Relatively affordable housing compared with major urban centres, good access to employment and commuter routes, family-friendly neighbourhoods with quality schools, and vibrant community networks. In addition, the area’s recreational amenities, parks, and safe, walkable neighbourhoods offer a lifestyle that combines convenience with quality of life, making it an attractive choice for buyers looking to upgrade or relocate. The region’s biggest challenge remains a lack of quality inventory that meets buyers’ needs – while properties are available on the market, many do not match what buyers are actively seeking.
In some price ranges, there is a surplus of listings in the Winnipeg housing market, sitting due to perceived lack of affordability and declining consumer confidence. With slightly longer times on the market, sellers are understanding that the region needs better buyer terms for them to close, such as lower interest rates and lower pricing. For those who are making decisions based on needs, it doesn’t make as much of a difference, however, for those looking to make a purchase based on investment, it has made a difference. With less buyers there is less competition. Consumer confidence is a little low, as there is uncertainty in the market, and some are questioning whether the ROI will be there.
The average age range of a first time buyer in Winnipeg is 30 to 32 years old, the region is seeing slightly older ‘first time buyers’ for the first time. An estimated 30 per cent of first time buyers are relying on their family to enter the market, including parents and grandparents for financial support with their downpayment.
There has been an increase in conditional sales, particularly for higher-priced properties ($800,000 and above). The main driver is financing approval, as lenders are being more diligent and cautious, taking on less risk when buyers are making a significant upward move in lifestyle or property value.
Several up-and-coming neighbourhoods in the region are gaining popularity due to affordability, accessibility, and appealing property types:
- Parkview Point: Known for its family-friendly atmosphere, good schools, and convenient access to local amenities, making it attractive for young families and first-time buyers.
- Bison’s Run: Offers a mix of modern housing options and proximity to employment hubs, appealing to move-up buyers and those seeking a balance of lifestyle and convenience.
- Summerlea: Known for its recreational amenities and green spaces, drawing buyers who value community engagement.
Winnipeg’s housing market has generally been stable and balanced. While the region doesn’t experience the sharp highs and lows seen in some other markets, it tends to follow national real estate trends to some extent. This stability provides a predictable environment for buyers and sellers, with steady demand, moderate inventory levels, and fewer sudden price fluctuations, making it easier to plan and make informed decisions.
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