Winnipeg Housing Market Outlook 2025
Table of contents
Winnipeg Housing Market Report Summary
- The average selling price of a home in Winnipeg increased by 7.5% year-over-year to $389,800 in June 2025.
- The average selling price of a single-family home in Winnipeg increased by 7.5% year-over-year to $411,800 in June 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 5.1% year-over-year to $333,400 in June 2025.
- The average selling price of a condo in Winnipeg increased by 5.2% year-over-year to $239,100 in June 2025.
- The average rent in Winnipeg decreased by 2% year-over-year to $1,625 for June 2025.
- July 30, 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 $389,800 for the month of June 2025, that’s increased by 0.5% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 7.5% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $411,800 for the month of June 2025, that’s increased by 0.5% compared to the previous month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 7.5% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Winnipeg was $333,400 for the month of June 2025, that’s decreased by 1.1% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 5.1% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $239,100 for the month of June 2025, that’s increased by 1.3% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 5.2% 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 June 2025 was $389,800, and it increased of 7.5% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 78%, indicating a Sellers in Winnipeg for June 2025.
Record June Prices in Winnipeg Cap Off a Strong First Half of the Year
According to the Winnipeg Regional Real Estate Board (WRREB), Winnipeg experienced another solid month in June, with sales and home prices continuing to rise across most property types. A total of 1,671 homes were sold through MLS, marking a 6% increase from June 2024. While still slightly below the five-year average, market momentum remained strong, especially in higher-priced detached homes and condominiums.
- All MLS sales: 1,671 (up 6% year-over-year)
- Active listings: 3,716 (down 10% year-over-year)
- Total dollar volume: $707.6 million (up 14% year-over-year)
- Detached average price: $473,131 (up 8% year-over-year)
- Condo average price: $291,647 (up 7% year-over-year)
Price Gains Set New Records for Detached Homes and Condos
Both the detached and condo segments reached record-high average prices in June. Detached homes averaged over $473,000 while condos came in just under $292,000. Most detached properties continued to sell above list price, and luxury demand remained strong, with a 48% increase in sales of homes priced at $1 million or more compared to last June.
Across the first half of 2025, average prices for both residential detached homes and condominiums were higher than in the same period last year and well above the five-year trend. The region has also surpassed $3.1 billion in total dollar volume year-to-date, representing a 14% increase from 2024.
Detached sales rose 8% over last year, supported by shrinking inventory and growing demand. The most active price range was $400,000 to $499,999, which accounted for nearly a quarter of all detached home sales. Winnipeg neighbourhoods like Waverley West and River Park South led activity, while Steinbach and Gimli were top sellers outside the city. The highest year-over-year price jump came from La Salle, where average values rose 45% to $755,200.
Condo sales increased by 10% year-over-year, with the most vigorous activity in Osborne Village, Waverley West and Crestview. Outside the city, Niverville, La Salle and Morris saw the most volume. Prices also continued to rise, with the average condo selling for $291,647 in June. The most popular price range remained between $200,000 and $299,999, accounting for one-third of all condo transactions.
Residential attached homes saw a 14% increase in sales compared to June 2024. Home prices also moved higher, averaging $372,937 across the region. Activity remained strongest in Winnipeg, with listings up 11% and average prices increasing by 6%. Outside the city, active listings dropped sharply, but sales still rose 19% year-over-year.
Takeaways For Your Mortgage Strategy in Winnipeg
Winnipeg’s market remains strong heading into summer, with record prices and steady sales across all major home types. Even with slightly lower inventory, buyer interest remains high, particularly in the mid- to upper-price ranges.
Homebuyers may face tougher competition in the detached and condo segments, especially in popular neighbourhoods and price bands. Elevated prices prompt some to consider the condo or attached home market, where conditions are still manageable. Renewers will need to budget for higher interest rates, but can take comfort in substantial home equity and rising values. Refinancers may benefit from price appreciation, especially in areas such as La Salle, Waverley West, and Steinbach, where equity gains have been substantial. If inflation continues easing, the Bank of Canada may consider one more rate cut by year’s end, which would support affordability in Winnipeg’s still-active housing market.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 1,886 during June 2025, that’s decreased by 7.1% compared to the previous month. On a year-over-year basis, sales in Winnipeg have increased by 8% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 2,418 during June 2025, that’s decreased by 14.4% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have increased by 0.1% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 78% during June 2025, indicating a Sellers. On a monthly basis, that’s increased by 8.6% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has increased by 7.8% 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 $1,625 for the month of June 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 June 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Winnipeg was $1,454 for the month of June 2025, which increased by 1% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,785 for the month of June 2025, which decreased by 3% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Winnipeg was $1,454 for the month of June 2025, which decreased by 3% on a year-over-year basis.
How Does Renting Compare with Homeownership in Winnipeg?
Each $100,000 in mortgage balance costs an average of $522.77 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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