Winnipeg Housing Market Outlook 2026

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Winnipeg Home Prices Rise While Sales Slow

Winnipeg’s housing market entered 2026 with a clear split between pricing and activity. Home prices across key segments increased compared to last year, yet MLS sales volumes declined. This combination signals a market that remains structurally supported by demand but is beginning to normalize after a stronger period of activity.

Overall MLS sales were lower than both last year and the 5-year average, while average prices for residential detached and condominium properties increased. Active listings declined slightly across the broader market, but trends vary by segment, creating different conditions for buyers and sellers depending on property type.

Winnipeg Detached Market Shows Price Resilience Despite Lower Sales

In Winnipeg, detached home prices continued to rise year over year, even as unit sales declined. Activity was strongest in mid-range price bands, particularly between $300,000 and $499,999, showing that demand remains concentrated in more accessible ownership tiers.

Sales volumes inside Winnipeg declined moderately, while areas outside Winnipeg saw steeper drops in transactions. However, prices outside the city rose faster than in Winnipeg, suggesting ongoing demand for comparatively affordable suburban and regional markets.

Inventory for detached homes remains below historical averages, which helps explain why prices are holding up despite lower sales. When supply remains tight and borrowing conditions gradually improve, pricing tends to remain supported even as transaction volumes cool.

Winnipeg Condominium Market Sees Rising Prices And Mixed Supply Signals

Condominium prices increased year over year, even as sales volumes declined. Within Winnipeg, active condo listings increased compared to last year, indicating more choice for buyers in that segment.

Sales activity in condos remains softer than in detached homes, yet pricing gains suggest that demand has not disappeared. Instead, buyers are moving more selectively, focusing on specific neighbourhoods and price bands. The most active condo price ranges remain below $300,000, reinforcing Winnipeg’s relative affordability compared to larger Canadian cities.

Winnipeg Housing Starts And Rental Market Point To Gradual Rebalancing

Winnipeg housing starts rose strongly in 2025 and are expected to remain elevated in 2026. Ground-oriented construction continues to reflect sustained ownership demand, while rental apartment development remains supported by policy incentives and financing programs.

Winnipeg’s rental vacancy rate is projected to rise as new supply enters the market and immigration-driven demand moderates. Rent growth is expected to slow, and landlords may face greater competition in newer, higher-priced buildings.

What Housing Trends Mean For Buyers And Sellers in Winnipeg

Winnipeg’s housing market in early 2026 is not weakening, but it is shifting. Prices are still increasing in key segments, yet sales volumes have softened. That pattern suggests a transition toward more balanced conditions rather than a correction.

Buyers in Winnipeg now have slightly more negotiating power in select segments, especially condominiums and higher-priced detached homes. Sellers can still benefit from relatively firm pricing, but expectations must align with slower transaction volumes.

Overall, Winnipeg remains one of the more affordable and resilient housing markets among major Canadian cities, with stable fundamentals and gradual normalization shaping the year ahead.

Winnipeg Housing Market Highlights

• The average selling price of a home in Winnipeg increased by 5.6% year-over-year to $382,100 in January.
• The average selling price of a single-family home in Winnipeg increased by 6% year-over-year to $405,100 in January.
• The average selling price of a townhouse/multiplex in Winnipeg decreased by 3.2% year-over-year to $320,200 in January.
• The average selling price of a condo in Winnipeg increased by 1.5% year-over-year to $221,600 in January.
• The average rent in Winnipeg is now $1,664 for January.
• February 20, 2026: Today’s lowest mortgage rate in Winnipeg is for a 5-year fixed.

Data from the Winnipeg Regional Real Estate Board (WRREB) indicates that the average price of resale residential homes sold across Winnipeg in January was $382,100, and itincreased of 5.6% compared to a year ago.

WRREB also reported a sales-to-new-listings ratio (SNLR) of 49%, indicating Balanced market conditions in Winnipeg for January.

Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Transactions –  Number of Sales

New Listings

Real Estate Market

The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% suggests a buyer’s market, where buyers have the upper hand and greater 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 Snapshot

The average rent in Winnipeg was $1,664 for the month of January.

The average rent for a 1-bedroom apartment in Winnipeg was $1,409 for the month of January, which decreased by 0.1% year over year.

The average rent for a 2-bedroom apartment in Winnipeg was $1,796 for the month of January, which increased by 3.1% year over year.

Rental Price Changes by City

Rank	CITY	Total Average	1 Bedroom	2 Bedrooms	Year-over-Year Change
1	North Vancouver	$2,958	$2,469	$3,287	−2.2%
2	Vancouver	$2,650	$2,362	$3,279	−4.8%
3	Oakville	$2,502	$2,216	$2,576	−19.3%
4	Toronto	$2,504	$2,183	$2,801	−8.6%
5	North York	$2,528	$2,127	$2,688	−1.9%
6	Burnaby	$2,505	$2,144	$2,809	−6.7%
7	Coquitlam	$2,524	$2,107	$2,765	−3.9%
8	Mississauga	$2,446	$2,043	$2,454	−8.6%
9	Etobicoke	$2,382	$2,102	$2,562	−8.3%
10	Kanata	$2,412	$2,238	$2,502	−17.3%
11	Brampton	$2,361	$1,910	$2,208	−7.2%
12	Kingston	$2,315	$1,968	$2,502	22.0%
13	Scarborough	$2,318	$1,910	$2,417	−5.6%
14	Vaughan	$2,266	$2,082	$2,499	−6.7%
15	Greater Sudbury	$2,067	$1,918	$2,167	−2.4%
16	Langley	$2,344	$2,071	$2,465	−1.8%
17	Burlington	$2,376	$2,065	$2,443	−5.0%
18	Ajax	$2,248	$1,814	$2,229	−4.5%
19	Halifax	$2,270	$2,052	$2,500	0.10%
20	Victoria	$2,224	$1,942	$2,605	−5.1%
21	Guelph	$2,159	$1,979	$2,291	−4.0%
22	Kelowna	$2,015	$1,686	$2,124	−10.8%
23	Surrey	$2,124	$1,818	$2,249	−8.5%
24	Ottawa	$2,127	$1,945	$2,458	−2.8%
25	New Westminster	$2,120	$1,872	$2,611	−7.4%
26	Waterloo	$2,230	$2,028	$2,367	−2.7%
27	Oshawa	$2,121	$1,753	$2,052	−5.4%
28	Nanaimo	$2,055	$1,820	$2,328	8.20%
29	Barrie	$2,154	$1,904	$2,184	−1.2%
30	East York	$2,302	$1,963	$2,554	−4.3%
31	Hamilton	$2,069	$1,753	$2,086	0.40%
32	Brossard	$2,066	$1,794	$2,169	1.60%
33	Cambridge	$2,057	$1,797	$2,101	−6.4%
34	Kamloops	$1,992	$1,805	$2,161	5.60%
35	Airdrie	$1,954	$1,450	$1,739	−0.9%
36	Laval	$2,098	$1,710	$2,348	11.00%
37	Kitchener	$2,013	$1,819	$2,130	−4.5%
38	Brantford	$1,979	$1,802	$2,058	0.50%
39	Niagara Falls	$1,929	$1,684	$1,899	−9.4%
40	Montreal	$1,913	$1,710	$2,216	−1.3%
41	London	$1,916	$1,650	$2,051	−4.5%
42	Gatineau	$1,885	$1,655	$2,072	−4.7%
43	Calgary	$1,871	$1,535	$1,850	−3.9%
44	Peterborough	$1,973	$1,677	$1,991	−2.3%
45	St. Catharines	$1,827	$1,608	$1,945	−1.2%
46	Welland	$1,675	$1,506	$1,823	−0.4%
47	Windsor	$1,658	$1,523	$1,839	−0.1%
48	Sarnia	$1,728	$1,508	$1,833	−3.9%
49	Winnipeg	$1,664	$1,409	$1,796	3.10%
50	Côte Saint-Luc	$1,535	$1,402	$1,787	−21.4%
51	Edmonton	$1,591	$1,279	$1,619	−2.6%
52	Saskatoon	$1,566	$1,350	$1,554	4.50%
53	Lethbridge	$1,528	$1,369	$1,570	0.70%
54	Quebec City	$1,485	$1,364	$1,646	−12.3%
55	Red Deer	$1,529	$1,219	$1,489	5.90%
56	Regina	$1,466	$1,255	$1,538	4.80%
57	Fort McMurray	$1,370	$1,167	$1,419	−1.3%
58	Medicine Hat	$1,372	$1,217	$1,395	0.10%
59	Lloydminster	$1,235	$1,025	$1,340	7.70%
60	St. John's	$1,238	$1,086	$1,250	−6.4%

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Rental Price Changes by Province

Rental Price Growth by Housing Type

How Does Renting Compare with Homeownership in Winnipeg?

Each $100,000 in mortgage balance costs an average of $509.35 per month on nesto’s lowest fixed 5-year rate at and $495.28 per month on nesto’s lowest adjustable 5-year rate at .

For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.23. The rates used for calculation are those offered for insured purchases with less than a 20% downpayment and a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is set to 4.45%.

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Frequently Asked Questions on Winnipeg Housing Market Outlook for 2026

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