Winnipeg Housing Market Outlook 2025
Table of contents
Winnipeg Housing Market Report Summary
- The average selling price of a home in Winnipeg increased by 8.0% year-over-year to $385,300 in April 2025.
- The average selling price of a single-family home in Winnipeg increased by 8.0% year-over-year to $407,200 in April 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 6.1% year-over-year to $334,400 in April 2025.
- The average selling price of a condo in Winnipeg increased by 5.9% year-over-year to $233,400 in April 2025.
- The average rent in Winnipeg unchanged by 0.0% year-over-year to $1,618 for April 2025.
- June 9, 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 $385,300 for the month of April 2025, that’s increased by 0.2% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 8.0% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $407,200 for the month of April 2025, that’s unchanged by 0.0% compared to the previous month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 8.0% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Winnipeg was $334,400 for the month of April 2025, that’s increased by 2.2% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 6.1% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $233,400 for the month of April 2025, that’s increased by 0.6% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 5.9% 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 April 2025 was $385,300, and it increased of 8.0% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 69%, indicating a sellers market in Winnipeg for April 2025.
Winnipeg Kicks Off Spring with Strong April Sales and Rising Detached Prices
According to the Winnipeg Regional Real Estate Board (WRREB), Winnipeg’s housing market entered the spring season with renewed momentum, posting one of its best Aprils on record. Total MLS sales for April 2025 reached 1,523 units, up 8% from April 2024 and slightly above the 5-year average. Despite ongoing affordability concerns in other Canadian markets, Winnipeg continues to show steady price growth in its detached segment and healthy year-to-date performance across key indicators.
Winnipeg Home Sales Rebound as Spring Activity Accelerates
Residential activity in Winnipeg is heating up, with April 2025 becoming the second-best April ever for total sales and dollar volume. Detached home sales, which account for most activity, rose 7% year-over-year, while total MLS dollar volume surged 12% to over $623 million. Overall, market activity is robust, even as active listings dropped 13% compared to last April, pointing to tightening supply conditions.
- April sales (All MLS): 1,523 (↑ 8% YoY)
- Detached sales: 1,043 (↑ 7% YoY)
- Condo sales: 206 (↓ 4% YoY)
- Active listings: 3,339 (↓ 13% YoY)
- Dollar volume: $623 million (↑ 12% YoY)
Detached Home Prices Near Record Highs
Detached properties continue to lead the market in both price appreciation and volume. The average detached home price reached $465,402 in April, up 7% from the same month last year and just shy of the record set in March. Condo prices, however, declined modestly, with an average of $274,483 (↓ 4% YoY), reflecting changing buyer demand and potential affordability constraints within that segment.
- Average price (detached): $465,402 (↑ 7% YoY)
- Average price (condos): $274,483 (↓ 4% YoY)
Winnipeg Market Year-to-Date Overview
The momentum in April contributed to strong year-to-date performance. All MLS sales for the first 4 months of 2025 totalled 4,313 (↑ 8% YoY), while dollar volume rose 15% to over $1.7 billion. Detached home sales climbed 6% YoY, with average prices up 9%. Condo sales also grew 6% YoY, though prices fell slightly, down 2% compared to 2024.
- YTD sales (All MLS): 4,313 (↑ 8% YoY)
- YTD listings: 7,347 (↓ 2% YoY)
- YTD dollar volume: $1.7B+ (↑ 15% YoY)
- YTD average price (detached): $457,125 (↑ 9% YoY)
- YTD average price (condos): $271,059 (↓ 2% YoY)
Winnipeg Has Room to Run for the Detached Segment
Winnipeg’s spring market is off to a strong start, with rising detached home prices and steady sales suggesting continued momentum in that segment. While condo activity remains mixed, the broader market benefits from a healthy mix of listings and active buyers. With supply levels tightening and prices relatively affordable compared to other major Canadian markets, Winnipeg remains one of the more balanced and accessible markets heading into the peak buying season.
Winnipeg’s spring housing market is gaining traction with strong detached sales, firm prices, and solid year-to-date growth. Whether buying, selling, or considering your next steps, favourable pricing and local demand trends make this an opportune time to act.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 1,674 during April 2025, that’s increased by 28.9% compared to the previous month. On a year-over-year basis, sales in Winnipeg have increased by 18.0% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 2,430 during April 2025, that’s increased by 3.2% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have decreased by 9.7% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 69% during April 2025, indicating a sellers market. On a monthly basis, that’s increased by 24.8% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has increased by 30.6% 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 $1,618 for the month of April 2025, which unchanged by 0.0% on a year-over-year basis.
The average rent for a bachelor apartment in Winnipeg was $0 for the month of April 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Winnipeg was $1,447 for the month of April 2025, which increased by 5.0% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,786 for the month of April 2025, which increased by 1.0% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Winnipeg was $1,447 for the month of April 2025, which increased by 1.0% on a year-over-year basis.
How Does Renting Compare with Homeownership in Winnipeg?
Each $100,000 in mortgage balance costs an average of $533.43 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
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.
Housing Market Glossary and Definitions
MLS® Home Price Index (HPI)
The MLS® Home Price Index (HPI) is a real estate price index compiled by the Canadian Real Estate Association (CREA) that tracks the price of homes in your neighbourhood. It’s a quick way for Canadians to compare home prices in different parts of Canada and between different periods without having to factor in the unique characteristics of a particular property.
While market prices can vary from one month to the next based on seasonal factors, the Home Price Index (HPI) provides a more consistent view and tracks price trends over an extended period. The Home Price Index (HPI) is updated annually in May to reflect changes in real estate markets.
MLS® HPI is the most comprehensive and precise way to track a neighbourhood’s home price level and trends. MLS HPI uses over 15 years of data from the MLS® System and advanced statistical models to create a “typical” home based on the characteristics of homes purchased and sold. This benchmark home is tracked across all Canadian neighbourhoods and various types of homes.
Strata insurance
Strata insurance is insurance that a strata or condominium uses to cover damages to common areas, assets and liabilities to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. Strata insurance can cover the following:
- Buildings and structures on the strata’s property, including common areas such as the garage, roof, lobby, pool, etc.,
- Liabilities for any property damage or bodily harm due to an injury suffered on a strata property,
- Which also includes fixtures in the standard unit or part of the original make of each unit.
Strata insurance generally does not cover personal belongings and appliances in a condo unit. Damage caused by individual unit owners (e.g., water damage due to a unit owner’s negligence) is typically covered under personal condo insurance.
Property Types
Detached homes, also known as single-family homes, are residential properties that stand alone and are not connected to other buildings. They are legal single residential units on their own parcel of land and have a separate title.
Semi-detached homes are characterized by their unique architectural design. Two houses are built side by side and share a common wall. Although sharing a building, semi-detached homes have their own parcel of land and separate legal titles.
Townhouses are residential dwellings typically characterized by narrow, tall structures, often sharing walls with neighbouring units. Although they may share yards or common elements with their neighbours, townhouses will have separate legal titles from any adjoining building. Townhouses can be purchased as freehold or leasehold within a condo or strata and may come with their own land parcel. Townhouses can be part of a low-rise or high-rise building.
Condo apartments, also known as condominiums, are residential properties that combine elements of apartments and individual homes. It is a unit within a larger building or complex owned by an individual who also shares ownership of common areas and amenities with other residents. Condo apartment owners have legal ownership of their units and can modify them within the guidelines set by the condominium association. Unlike a townhouse, condos do not offer exclusive use of outdoor space unless they come with a balcony or terrace. Condos can be part of a low-rise or high-rise building.
Plexes or multiplexes are unique residential buildings constructed into 2 to 6 units within a single structure. Traditionally, they have been designed as low-rise residential buildings where any unit is accessible via an external entrance with higher floors connected by staircases. Each unit will have a separate registration and title but may share common elements and co-ownership fees with the other multiplex owners. Plexes are common in Québec and older parts of Toronto.
Property Ownership Classes
A freehold is a type of property ownership where an individual or entity has complete and indefinite ownership rights over a property and its parcel of land. Common freehold property types include detached houses, semi-detached houses, farms, and townhouses not part of condominium corporations.
A condominium or condo is a distinct type of property class that combines apartment living and individual homeownership elements. In a condominium, individual units are owned by the residents, while the common areas and amenities are shared among all the unit owners. This type of ownership gives you rights to your specific unit and some rights and responsibilities to the common areas, such as the hallways, elevators, garage, pool and rooftop patios.
A leasehold is a legal arrangement where a person or entity holds the right to use and occupy a property for a specific period, typically through a lease agreement. In some cases, the leaseholder may own the building or unit and rent the land from the landowner (landlord).
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