Winnipeg Housing Market Outlook 2026
Winnipeg Sets Price Records on the Thinnest July Sales in Years
According to the Winnipeg Regional Real Estate Board (WRREB), July 2026 produced new average price records for both detached homes and condominiums, even as total MLS sales fell 9% from July 2025. It is an unusual combination: record prices arriving on some of the thinnest sales activity Winnipeg has posted in years.
- The average price for detached residential properties reached $454,264, up 2% year-over-year and 6% above the 5-year average, a new record for July. Condominium average prices climbed to $290,522, up 2% annually and 5% above the 5-year average, also a July record.
- All MLS sales totalled 1,475, down 9% from last July and 1% below the 5-year average. Detached sales fell 7% to 1,054, while condominium sales dropped 21% to 187, the steepest decline of any property type.
- Active MLS listings climbed to 4,005, up 9% year-over-year, while total dollar volume of just over $601 million was down 7% from last July despite the higher average prices, a direct result of the lower sales volume.
Winnipeg Regional Real Estate Board president Dan O’Brien attributed the price records to detached and condominium values increasing over both last year and the 5-year average, even as sales activity cooled. Months of supply sat at 2.7, still consistent with a seller’s market overall, but the sharp 21% drop in condominium sales stands out against a detached market that has held up far better. Royal LePage forecasts Winnipeg prices to rise 5% for the full year, tied with Montreal as the strongest showing among the major markets it tracks, a notable result for a market that has long competed on affordability rather than rapid appreciation.
Record home prices on thinner sales are a market that rewards buyers who move decisively when the right property appears. Compare current mortgage rates in Winnipeg and speak with our nesto mortgage experts to get your financing ready.
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Winnipeg Housing Market Highlights
- The average selling price of a home in Winnipeg increased by 3% year-over-year to $397,000 in June.
- The average selling price of a single-family home in Winnipeg increased by 2.8% year-over-year to $418,400 in June.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 2.9% year-over-year to $345,800 in June.
- The average selling price of a condo in Winnipeg increased by 2.9% year-over-year to $239,400 in June.
- The average rent in Winnipeg decreased by 0.1% year-over-year to $1,663 for June.
- August 21, 2026: Today’s lowest mortgage rate in Winnipeg is 4.24% 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 June was $397,000, and it increased by 3% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 71%, indicating Sellers market conditions in Winnipeg for June.
Average Home Prices in Winnipeg by Property Type
Composite Home Prices
The average selling price of a home in Winnipeg was $397,000 for the month of June, that’s decreased by 1.5% month-over-month. On a year-over-year basis, Winnipeg home prices have increased 3% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $418,400 for the month of June, that’s decreased by 1.8% month-over-month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 2.8% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Winnipeg was $345,800 for the month of June, that’s increased by 0.6% month-over-month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 2.9% year-over-year.
Condo Prices
The average selling price of a condo in Winnipeg was $239,400 for the month of June, that’s decreased by 0.1% month-over-month. On a year-over-year basis, the price of a condo in Winnipeg has increased 2.9% year-over-year.
Winnipeg Home Sales, New Listings and Market Conditions
Transactions and Number of Sales
The number of sales in Winnipeg was 1,649 during June, that’s decreased by 12.9% month-over-month. On a year-over-year basis, sales in Winnipeg have decreased by 8.1% year-over-year.
New Listings
The number of new listings in Winnipeg was 2,317 during June, that’s decreased by 13.1% month-over-month. On a year-over-year basis, new listings in Winnipeg have decreased by 1.9% year-over-year.
Sales-to-New-Listings Ratio (SNLR)
The sales-to-new-listings ratio (SNLR) in Winnipeg was 71% during June, indicating a Sellers. On a monthly basis, that’s increased by 0.2% month-over-month. Winnipeg’s yearly sales-to-new-listings ratio has decreased by 6.3% year-over-year.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% indicates a buyer’s market, where buyers hold 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 $1,663 for the month of June, which decreased by 0.1% year-over-year.
The average rent for a 1-bedroom apartment in Winnipeg was $1,463 for the month of June, which increased by 1.6% year-over-year.
The average rent for a 2-bedroom apartment in Winnipeg was $1,759 for the month of June, which decreased by 0.3% year-over-year.
Average Rent by City in Canada
| Rank | City | Total Average | 1 Bedroom | 2 Bedrooms |
|---|---|---|---|---|
| 1 | North Vancouver | $3,039 | $2,588 | $3,458 |
| 2 | Vancouver | $2,686 | $2,377 | $3,255 |
| 3 | Toronto | $2,580 | $2,234 | $2,947 |
| 4 | North York | $2,565 | $2,188 | $2,743 |
| 5 | Burnaby | $2,543 | $2,159 | $2,802 |
| 6 | Coquitlam | $2,526 | $2,134 | $2,753 |
| 7 | Oakville | $2,517 | $2,198 | $2,819 |
| 8 | Kanata | $2,514 | $2,230 | $2,751 |
| 9 | Etobicoke | $2,439 | $2,094 | $2,624 |
| 10 | Halifax | $2,372 | $2,071 | $2,616 |
| 11 | Burlington | $2,370 | $2,075 | $2,448 |
| 12 | Mississauga | $2,357 | $2,052 | $2,445 |
| 13 | Vaughan | $2,319 | $2,048 | $2,580 |
| 14 | Victoria | $2,307 | $2,016 | $2,682 |
| 15 | Brampton | $2,285 | $2,001 | $2,379 |
| 16 | Langley | $2,239 | $1,899 | $2,457 |
| 17 | Ajax | $2,234 | $1,878 | $2,218 |
| 18 | Guelph | $2,217 | $1,905 | $2,280 |
| 19 | Scarborough | $2,213 | $1,872 | $2,288 |
| 20 | New Westminster | $2,190 | $1,880 | $2,656 |
| 21 | Surrey | $2,167 | $1,794 | $2,239 |
| 22 | Ottawa | $2,164 | $1,960 | $2,449 |
| 23 | Barrie | $2,155 | $1,863 | $2,108 |
| 24 | Waterloo | $2,118 | $1,915 | $2,234 |
| 25 | Kingston | $2,100 | $1,827 | $2,271 |
| 26 | Laval | $2,096 | $1,732 | $2,356 |
| 27 | Nanaimo | $2,092 | $1,835 | $2,290 |
| 28 | Kelowna | $2,091 | $1,808 | $2,248 |
| 29 | East York | $2,050 | $1,791 | $2,312 |
| 30 | Cambridge | $2,042 | $1,847 | $2,139 |
| 31 | Greater Sudbury | $2,021 | $1,708 | $2,072 |
| 32 | Oshawa | $2,002 | $1,740 | $2,017 |
| 33 | Airdrie | $1,987 | $1,441 | $1,804 |
| 34 | Peterborough | $1,977 | $1,742 | $1,957 |
| 35 | Brossard | $1,970 | $1,722 | $2,199 |
| 36 | Kamloops | $1,956 | $1,731 | $2,042 |
| 37 | Montreal | $1,941 | $1,769 | $2,255 |
| 38 | Niagara Falls | $1,940 | $1,600 | $1,980 |
| 39 | Brantford | $1,936 | $1,807 | $2,043 |
| 40 | Hamilton | $1,929 | $1,654 | $2,235 |
| 41 | London | $1,924 | $1,670 | $2,058 |
| 42 | Kitchener | $1,908 | $1,684 | $2,078 |
| 43 | Calgary | $1,883 | $1,513 | $1,847 |
| 44 | St. Catharines | $1,817 | $1,558 | $1,931 |
| 45 | Welland | $1,779 | $1,522 | $1,985 |
| 46 | Gatineau | $1,775 | $1,592 | $1,852 |
| 47 | Côte Saint-Luc | $1,704 | $1,441 | $1,997 |
| 48 | Windsor | $1,685 | $1,492 | $1,921 |
| 49 | Sarnia | $1,680 | $1,495 | $1,728 |
| 50 | Winnipeg | $1,663 | $1,463 | $1,759 |
| 51 | Edmonton | $1,617 | $1,282 | $1,638 |
| 52 | Red Deer | $1,536 | $1,293 | $1,509 |
| 53 | Lethbridge | $1,519 | $1,342 | $1,571 |
| 54 | Quebec City | $1,516 | $1,279 | $1,611 |
| 55 | Saskatoon | $1,514 | $1,310 | $1,537 |
| 56 | Regina | $1,444 | $1,300 | $1,540 |
| 57 | Fort McMurray | $1,412 | $1,221 | $1,426 |
| 58 | Medicine Hat | $1,359 | $1,237 | $1,380 |
| 59 | Lloydminster | $1,348 | $1,072 | $1,386 |
| 60 | St. John's | $1,215 | $1,105 | $1,314 |
Source: Rentals.ca Network Data & Urbanation Inc.
Average Rent by Province in Canada
Rental Price Growth by Housing Type
How Does Renting Compare With Homeownership in Winnipeg?
Each $100,000 in mortgage balance costs an average of $530.91 per month on nesto’s lowest fixed 5-year rate at 4.24% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.45%.
For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.42. The interest rates used for calculation are those offered on insured purchases with less than a 20% down payment on a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.
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Frequently Asked Questions (FAQ) About the Winnipeg Housing Market in 2026
Are Winnipeg Housing Market Conditions Favouring Buyers or Sellers in 2026?
Winnipeg housing market conditions still favour sellers overall in 2026, with months of supply at 2.7 in July, consistent with a seller’s market by conventional thresholds. Active MLS listings climbed 9% year over year to 4,005, giving buyers somewhat more choice than in recent years, but sales activity also fell, so the balance between supply and demand has not shifted as decisively toward buyers as the higher inventory alone might suggest.
Are Winnipeg Home Prices Going Up or Down in 2026?
Winnipeg home prices are rising in 2026, and July set new monthly records. The detached home average price reached $454,264, up 2% year over year and a new July high, while the condominium average climbed to $290,522, also a July record, up 2% year-over-year. Royal LePage forecasts Winnipeg prices to rise 5% for the full year, tied with Montreal as the strongest showing among the major markets it tracks.
Why Are Winnipeg Prices Rising While Sales Fall?
Winnipeg prices are rising while sales fall because the homes that continue to trade skew toward higher-value properties, even as overall transaction volume thins out. All MLS sales fell 9% year over year in July, with condominium sales down a steeper 21%, yet both detached and condominium average prices set new July records. That combination points to firm demand for the properties buyers are pursuing, even as the total number of transactions declines.
Which Winnipeg Property Type Is Weakest in 2026?
Condominiums are the weakest property type in Winnipeg in 2026 on a sales-volume basis. Condominium sales fell 21% year over year in July to 187 transactions, more than double the 7% decline in detached sales. The condominium average price still rose to a record $290,522, so the weakness so far is showing up in transaction volume rather than in price, unlike the sharper price declines seen in the condo segments of Calgary, Edmonton, and Vancouver.
Is Winnipeg Still One of Canada’s Most Affordable Major Markets?
Winnipeg remains one of Canada’s most affordable major markets in 2026, with a detached average price of $454,264 that sits well below Calgary, Edmonton, and every major Ontario or British Columbia market. That affordability, combined with a 5% price-growth forecast for the year from Royal LePage, has been drawing renewed attention to Winnipeg from buyers priced out of larger centres, even as local sales volume has cooled.
What Is Limiting Winnipeg Housing Demand in 2026?
Thinner overall transaction volume, rather than affordability, is the main factor limiting Winnipeg housing demand in 2026. All MLS sales fell 9% year over year in July, even as prices set records, suggesting fewer buyers were active in the market rather than buyers being priced out. Qualification remains a secondary constraint, since the mortgage stress test requires borrowers to qualify at a rate higher than the one they will actually pay, regardless of how affordable a market appears on a headline basis.
Is It Cheaper to Rent or Buy in Winnipeg in 2026?
Buying is more competitive than renting in Winnipeg in 2026, given the city’s comparatively low average detached home price of $454,264. With prices setting records even on thinner sales, the cost gap between renting and owning here is narrower than in markets like Toronto or Vancouver. Which option costs less over time depends on how long it takes to save the down payment, how long you plan to stay, and the mortgage rate you qualify for.
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