Winnipeg Housing Market Outlook 2025
Table of contents
Winnipeg Housing Market Report Summary
- The average selling price of a home in Winnipeg increased by 5.2% year-over-year to $381,500 in September 2025.
- The average selling price of a single-family home in Winnipeg increased by 5.2% year-over-year to $401,900 in September 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 2.7% year-over-year to $332,900 in September 2025.
- The average selling price of a condo in Winnipeg increased by 4.8% year-over-year to $239,000 in September 2025.
- The average rent in Winnipeg increased by 2.5% year-over-year to $1,691 for September 2025.
- October 28, 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 $381,500 for the month of September 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 5.2% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $401,900 for the month of September 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 5.2% 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 September 2025, that’s unchanged by 0% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 2.7% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $239,000 for the month of September 2025, that’s decreased by 0.3% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 4.8% over the last 12 months.
We’re curious…
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 September 2025 was $381,500, and it increased of 5.2% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 65%, indicating a Sellers in Winnipeg for September 2025.
Winnipeg Home Sales and Prices Continue to Rise
The Winnipeg Regional Real Estate Board (WRREB) reported strong results for September 2025, with market performance showing notable improvement from last year and surpassing 5-year averages. Home sales reached 1,391, marking a 12% increase compared to September 2024 and 7% higher than the 5-year average. Total sales dollar volume exceeded $547 million, up 17% year over year, while active listings declined 8% to 3,704.
WRREB President Michael Froese observed, “Like the weather, September’s real estate market performance warmed up with increases to MLS sales, dollar volume and average prices. Residential detached and condominium average prices reached new records for the month of September and totals through three quarters of 2025.”
Residential Detached and Condominium Prices Reached New Records
Detached home sales climbed 6% compared to last year, reaching 935 transactions. The average detached home price rose to $436,507, up 6% from the previous year. Condominium sales increased 16% to 201 units, while the average condo price climbed 7% to $297,213, also setting a new September high.
Active Listings Declined but Remain Broadly Balanced
Despite robust sales, total active listings dropped 8% year over year. Detached listings decreased 12%, while condominium listings fell 7%. This tightening in available inventory helped support price stability across most property categories.
Market Summary by Property Type
The following breakdown highlights how each property type contributed to the region’s September performance and year-to-date momentum.
- Residential Detached Homes: Sales increased by 6% compared to September 2024, with 935 transactions recorded. The average price rose to $436,507, marking a 6% annual gain and a 10% increase compared to the 5-year average. Detached sales in Winnipeg reached 587 units, with an average price of $449,568 (up 4%), while outside the city, 348 homes sold for an average of $414,477 (up 12%).
- Condominiums: Sales jumped 16% to 201 units. The average price reached $297,213, up 7% compared to last year and 11% above the 5-year average. Within Winnipeg, condo prices averaged $296,786 (up 7%), while outside the city, prices averaged $299,169 (up 6%). The most active price range for condos was $200,000–$299,999, representing 34% of total transactions.
- Residential Attached Homes: Attached home sales surged 47% to 116 units, while the average price rose 9% to $393,062. In Winnipeg, attached home prices averaged $388,739 (up 3%), and outside the city, the average reached $407,309 (up 29%). This category saw the sharpest sales growth and continues to benefit from buyers seeking mid-range affordability.
- All MLS Composite: Total MLS activity reached 1,391 sales, up 12% year over year, with average prices up 6%. Dollar volume grew 17% to $547.5 million, making September one of the strongest months of 2025.
Winnipeg Real Estate Outlook for Late 2025
Winnipeg’s housing market is poised to remain active heading into the final quarter of 2025. Declining mortgage rates, steady population growth, and strong employment fundamentals continue to support buyer demand. Limited supply in detached and entry-level condo segments will likely keep home prices elevated through year-end.
For homebuyers, Winnipeg’s stability and moderate price growth provide an accessible entry point compared to larger markets. If the Bank of Canada follows through with another rate reduction in 2025, Winnipeg’s affordability advantage could strengthen further, supporting sustained sales growth and moderate appreciation in 2026.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 1,497 during September 2025, that’s decreased by 3.3% compared to the previous month. On a year-over-year basis, sales in Winnipeg have increased by 19.7% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 2,291 during September 2025, that’s increased by 8.7% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have increased by 3.3% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 65% during September 2025, indicating a Sellers. On a monthly basis, that’s decreased by 11% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has increased by 15.8% 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
We’re curious…
Winnipeg Market Rents Summary
The average rent in Winnipeg was $1,691 for the month of September 2025, which increased by 2.5% on a year-over-year basis.
The average rent for a bachelor apartment in Winnipeg was $0 for the month of September 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Winnipeg was $1,443 for the month of September 2025, which increased by 1.6% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,900 for the month of September 2025, which increased by 5.4% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Winnipeg was $1,443 for the month of September 2025, which increased by 5.4% 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 2.50%, 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
We’re curious…
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.
Why Choose nesto
At nesto, our commission-free mortgage experts, certified in multiple provinces, provide exceptional advice and service that exceeds industry standards. Our mortgage experts are non-commissioned, salaried employees who provide impartial guidance on mortgage options tailored to your needs and are evaluated based on client satisfaction and advice quality. nesto aims to transform the mortgage industry by providing honest advice and competitive rates using a 100% fully digital, transparent, seamless process.
nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.
Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.
Ready to get started?
In just a few clicks, you can see our current rates. Then apply for your mortgage online in minutes!
