Winnipeg Housing Market Outlook 2025
Winnipeg Housing Market Report Summary 2026
- The average selling price of a home in Winnipeg increased by 5.3% year-over-year to $378,300 in November 2025.
- The average selling price of a single-family home in Winnipeg increased by 5.1% year-over-year to $398,500 in November 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 1.8% year-over-year to $334,400 in November 2025.
- The average selling price of a condo in Winnipeg increased by 6.5% year-over-year to $232,300 in November 2025.
- The average rent in Winnipeg is now $1,662 for November 2025.
- December 25, 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 $378,300 for the month of November 2025, that’s decreased by 0.2% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 5.3% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $398,500 for the month of November 2025, that’s decreased by 0.3% compared to the previous month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 5.1% 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 November 2025, that’s increased by 0% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 1.8% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $232,300 for the month of November 2025, that’s increased by 0.8% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 6.5% 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 November 2025 was $378,300, and it increased of 5.3% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 74%, indicating Sellers market conditions in Winnipeg for November 2025.
Winnipeg Sees Strong Year-to-Date Performance Despite November Cooling
According to the Winnipeg Regional Real Estate Board (WRREB), Winnipeg’s housing market continued to outperform year-to-date in November, even as monthly activity eased in line with seasonal trends. Total MLS sales reached 14,431 through November, up 4% from last year, while total dollar volume climbed 10% to more than $5.7B, marking one of the strongest years on record.
Winnipeg Market Snapshot for November
- All MLS home sales totalled 935, down 10% YoY
- Active listings declined 5% to 3,165
- Total dollar volume fell 12% for the month, to roughly $349M
- Residential detached sales decreased 7% to 630
- Detached average price slipped 3% YoY to $420,121
- Condominium sales fell 15%, while average condo prices rose 6% to $272,718
Year-to-Date Strength Remains the Defining Trend
Despite the slowdown in November, annual performance remains notably strong. Year-to-date detached sales are up 3%, with average prices rising 6% to $451,137, while condo prices are up 3% to $283,498. Detached and condominium prices both set new November records earlier in the year, underscoring the market’s underlying resilience.
Why Winnipeg Market Conditions Are Shifting
November marked the first month this year during which detached prices did not set a new monthly record, reflecting cooling momentum rather than weakening fundamentals. Lower sales and dollar volume point to seasonal caution, while stable listings continue to support balanced conditions across most home price ranges.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 991 during November 2025, that’s decreased by 30.7% compared to the previous month. On a year-over-year basis, sales in Winnipeg have decreased by 11.1% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 1,339 during November 2025, that’s decreased by 25.2% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have increased by 2.8% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 74% during November 2025, indicating a Sellers. On a monthly basis, that’s decreased by 7.2% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has decreased by 13.6% 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 $1,662 for the month of November 2025.
The average rent for a 1-bedroom apartment in Winnipeg was $1,404 for the month of November 2025, which decreased by 2.3% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,816 for the month of November 2025, which increased by 0.9% on a year-over-year basis.
How Does Renting Compare with Homeownership in Winnipeg?
Each $100,000 in mortgage balance costs an average of $520.07 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 2.25%, and nesto’s prime rate is set to 4.45%.
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 home prices in Winnipeg 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 seeking 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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