Winnipeg Housing Market Outlook 2025
Table of contents
Winnipeg Housing Market Report Summary
- The average selling price of a home in Winnipeg increased by 6.9% year-over-year to $386,700 in July 2025.
- The average selling price of a single-family home in Winnipeg increased by 6.9% year-over-year to $408,200 in July 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 5% year-over-year to $335,300 in July 2025.
- The average selling price of a condo in Winnipeg increased by 5.1% year-over-year to $237,500 in July 2025.
- The average rent in Winnipeg decreased by 2% year-over-year to $1,619 for July 2025.
- August 19, 2025: Today’s lowest mortgage rate in Winnipeg is
for a 5-year fixed.
Composite Home Prices
The average selling price of a home in Winnipeg was $386,700 for the month of July 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 6.9% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $408,200 for the month of July 2025, that’s decreased by 0.9% compared to the previous month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 6.9% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Winnipeg was $335,300 for the month of July 2025, that’s increased by 0.6% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 5% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $237,500 for the month of July 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 5.1% over the last 12 months.
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Winnipeg Housing Market Summary
Data from the Winnipeg Regional Real Estate Board (WRREB) indicates that the average price of resale residential homes sold across Winnipeg in July 2025 was $386,700, and it increased of 6.9% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 76%, indicating a Sellers in Winnipeg for July 2025.
Winnipeg Home Sales Up 9% as Listings Drop 12%
According to the Winnipeg Regional Real Estate Board (WRREB), Winnipeg’s housing market posted substantial gains in July, with 1,620 MLS sales, up 9% from last year and 6% above the 5-year average. Active listings fell to 3,678, down 12% from July 2024, creating tighter market conditions. Total MLS dollar volume reached over $646 million, 12% higher YoY and the highest July figure on record.
Detached sales totalled 1,131, up 9% from last year, with an average price of $443,635, 2% higher annually. Condominium sales rose 12% to 238 units, with the average price holding steady at $284,845.
- Home sales: 1,620 total, up 9% YoY
- Active listings: 3,678, down 12% YoY
- Detached homes: 1,131 sales, average price $443,635, up 2% YoY
- Condominiums: 238 sales, average price $284,845, flat YoY
- Residential attached: 114 sales, average price $374,496, up 6% YoY
How Property Segments Performed in July
Detached home sales inside Winnipeg rose 6% to 721, with prices up 3% to $461,342. Outside Winnipeg, detached sales jumped 15% to 410, with prices up 1% to $412,496. Condominium activity was strongest in Winnipeg, where sales rose 17% to 195, while outside the city, condo sales fell 7% to 43 units. Residential attached sales increased 13% YoY, with those inside the city posting a 12% price gain to $388,267.
Why Market Conditions Are Favouring Sellers in Winnipeg’s Key Segments
Lower active listings and steady demand are giving sellers more leverage, especially in the $400K to $499K range for detached homes, which accounted for 24% of total home sales. High-value sales also remained strong, with 20 detached homes selling at or above $1 million in July. The attached home market in Winnipeg and high-demand suburban areas is also benefiting from above-average price growth.
How This Shift Affects Buyers, Sellers, and Mortgages in Winnipeg
Homebuyers face more competition in the most active price bands, but those targeting condos or detached homes outside Winnipeg may find more negotiating room. Sellers are well-positioned in both detached and attached markets, where supply is limited. Renewers are likely to see higher appraisals in most segments, while homeowners looking to refinance may have stronger home equity positions to leverage. For the Bank of Canada, Winnipeg’s record dollar volume and price resilience indicate that rate policy is not dampening demand here as much as in other major markets, which could weigh into broader policy discussions.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 1,795 during July 2025, that’s decreased by 4.8% compared to the previous month. On a year-over-year basis, sales in Winnipeg have increased by 9.2% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 2,362 during July 2025, that’s decreased by 2.3% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have increased by 3.2% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 76% during July 2025, indicating a Sellers. On a monthly basis, that’s decreased by 2.6% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has increased by 5.8% over the last 12 months.
The sales to new listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in Winnipeg
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Winnipeg Market Rents Summary
The average rent in Winnipeg was $1,619 for the month of July 2025, which decreased by 2% on a year-over-year basis.
The average rent for a bachelor apartment in Winnipeg was $0 for the month of July 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Winnipeg was $1,446 for the month of July 2025, which unchanged by 0% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,776 for the month of July 2025, which decreased by 2% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Winnipeg was $1,446 for the month of July 2025, which decreased by 2% on a year-over-year basis.
How Does Renting Compare with Homeownership in Winnipeg?
Each $100,000 in mortgage balance costs an average of $528.19 per month on nesto’s lowest fixed 5-year rate at
Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.75%, and nesto’s prime rate is set to 4.95%.
Rental Price Changes by City
Rental Price Changes by Province
Rental Price Growth by Housing Type
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Frequently Asked Questions on Winnipeg Housing Market Outlook for 2025
Will Winnipeg home prices increase in 2025?
Winnipeg’s home prices are expected to remain stable, with a slight upward movement in 2025. The market’s affordability and growing demand will support moderate price gains.
Is Winnipeg a good city to buy a home in 2025?
Winnipeg offers some of Canada’s most affordable housing options, making it ideal for first-time buyers and investors looking for substantial value.
How will mortgage rates impact Winnipeg’s housing market?
Declining mortgage rates will improve affordability, allowing more buyers to enter the market and driving demand for single-family homes.
What trends will shape Winnipeg’s housing market in 2025?
Key trends include affordability, demand for family-sized homes, and population growth driven by increased immigration.
How does Winnipeg’s home affordability compare to other Canadian cities?
Winnipeg remains one of Canada’s most affordable housing markets, with prices well below the national average. This affordability will continue to attract buyers in 2025.
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