Winnipeg Housing Market Outlook 2025
Table of contents
Winnipeg Housing Market Report Summary
- The average selling price of a home in Winnipeg increased by 6.2% year-over-year to $384,200 in August 2025.
- The average selling price of a single-family home in Winnipeg increased by 6.1% year-over-year to $405,100 in August 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 3.8% year-over-year to $332,900 in August 2025.
- The average selling price of a condo in Winnipeg increased by 5.8% year-over-year to $239,700 in August 2025.
- The average rent in Winnipeg increased by 1% year-over-year to $1,618 for August 2025.
- October 8, 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 $384,200 for the month of August 2025, that’s decreased by 0.6% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 6.2% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $405,100 for the month of August 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 6.1% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Winnipeg was $332,900 for the month of August 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 3.8% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $239,700 for the month of August 2025, that’s increased by 0.9% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 5.8% 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 August 2025 was $384,200, and it increased of 6.2% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 73%, indicating a Sellers in Winnipeg for August 2025.
Winnipeg Home Sales Down as Prices Hit Record Highs
According to the Winnipeg Regional Real Estate Board (WRREB) for August 2025, the market recorded 1,402 sales, down 5% compared with August 2024 and 3% below the 5-year average. Despite softer sales, both detached and condominium prices reached their highest August levels on record.
Residential detached sales totalled 970 in August, down 5% annually, while the average price climbed 8% to $450,596. Condominium sales fell 3% YoY to 204 units, but the average price rose 4% to $280,143. These increases continued a trend in which every month of 2025 has set a new detached price record for that month, and 6 out of 8 months have set condo price records.
- August home sales were 1,402, down 5% YoY
- Detached average price: $450,596, up 8% annually
- Condominium average price: $280,143, up 4% annually
- Active listings: 3,624, down 10% from 2024
- Total dollar volume: $561 million, up 3% annually
Through the first 8 months of 2025, Winnipeg recorded 10,773 sales, a 5% increase over the same period last year. Total dollar volume exceeded $4.3 billion, up 12% YoY. Detached sales rose 5% to 7,367 units with an average price of $456,726, up 8%. Condominium sales increased 2% to 1,571 units with an average price of $281,261, up 2%.
Inventory Down 10% As Winnipeg Market Remains Seller-Leaning
Active listings stood at 3,624 in August, down 10% from last year. With supply declining while prices set records, Winnipeg remains one of the tighter Prairie markets compared with Edmonton and Calgary, where inventory has built up. The city’s balanced-to-seller-leaning conditions are helping sustain price growth even as home sales soften.
RBC Economics noted that while many Canadian cities are under pressure from high inventory, balanced conditions in Winnipeg are driving property values higher. This positions Winnipeg as one of the strongest Prairie markets, with continued room for growth despite affordability challenges.
Build Canada Homes To Deliver Affordable Housing In Winnipeg
The federal Build Canada Homes program will direct part of its $13 billion budget to Winnipeg, where projects on federal land will support the construction of new modular and factory-built housing. Winnipeg is one of 6 cities prioritized in the plan to build 4,000 homes nationally, with construction expected to begin in 2026.
Mortgage Impact for Buyers and Sellers in Winnipeg
- Buyers face higher entry costs as both detached and condo prices continue to rise, but limited supply means competition remains strong. Acting quickly on mortgage pre-approvals is crucial to securing a favourable price.
- Sellers benefit from record prices and reduced competition, though softer sales growth suggests realistic pricing will attract faster offers.
- Mortgage holders may soon see relief as the Bank of Canada returns to a monetary easing stance. Homeowners looking to renew and refinance in Winnipeg could lock in slightly lower rates while leveraging record home equity.
Winnipeg’s housing market continues to defy broader national trends, with home sales easing but prices climbing to new highs. Strong demand, limited supply, and incoming federal housing projects will shape affordability and opportunity heading into 2026.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 1,548 during August 2025, that’s decreased by 13.8% compared to the previous month. On a year-over-year basis, sales in Winnipeg have decreased by 4.1% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 2,108 during August 2025, that’s decreased by 10.8% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have decreased by 4% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 73% during August 2025, indicating a Sellers. On a monthly basis, that’s decreased by 3.4% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has decreased by 0.1% 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 August 2025, which increased by 1% on a year-over-year basis.
The average rent for a bachelor apartment in Winnipeg was $0 for the month of August 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Winnipeg was $1,439 for the month of August 2025, which increased by 3% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,775 for the month of August 2025, which unchanged by 0% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Winnipeg was $1,439 for the month of August 2025, which unchanged by 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 $520.08 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 2.50%, and nesto’s prime rate is set to 4.70%.
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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