Winnipeg Housing Market Outlook 2025
Winnipeg Housing Market Report Summary
- The average selling price of a home in Winnipeg increased by 5.4% year-over-year to $380,800 in October 2025.
- The average selling price of a single-family home in Winnipeg increased by 5.3% year-over-year to $401,000 in October 2025.
- The average selling price of a townhouse/multiplex in Winnipeg increased by 2% year-over-year to $333,900 in October 2025.
- The average selling price of a condo in Winnipeg increased by 5.1% year-over-year to $236,500 in October 2025.
- The average rent in Winnipeg increased by 1.7% year-over-year to $1,628 for October 2025.
- December 5, 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 $380,800 for the month of October 2025, that’s decreased by 0.2% compared to the previous month. On a year-over-year basis, Winnipeg home prices have increased 5.4% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Winnipeg was $401,000 for the month of October 2025, that’s decreased by 0.2% compared to the previous month. On a year-over-year basis, single-family home prices in Winnipeg have increased by 5.3% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Winnipeg was $333,900 for the month of October 2025, that’s increased by 0.3% compared to the previous month. On a year-over-year basis, the price of a townhouse in Winnipeg has increased by 2% over the last 12 months.
Condo Prices
The average selling price of a condo in Winnipeg was $236,500 for the month of October 2025, that’s decreased by 1% compared to the previous month. On a year-over-year basis, the price of a condo in Winnipeg has increased 5.1% 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 October 2025 was $380,800, and it increased of 5.4% compared to a year ago.
WRREB also reported a sales-to-new-listings ratio (SNLR) of 80%, indicating a Sellers in Winnipeg for October 2025.
Winnipeg Sets New Price Records as Sales Rise and Inventory Declines in October
According to the Winnipeg Regional Real Estate Board (WRREB), October 2025 marked another strong month for the region, with average prices continuing to set new benchmarks for both monthly and year-to-date performance. The market recorded 1,344 MLS sales, up 1% from October 2024 and 6% above the 5-year average. Active listings fell 3% year over year to 3,519, contributing to steady price gains across key property types.
Winnipeg October 2025 Market Highlights
• 1,344 sales, up 1% year over year
• 3,519 active listings, down 3% year over year
• Total monthly dollar volume above $540 million, up 7% annually
• Residential detached average price at $442,104, up 4% annually
• Condominium average price at $297,428, up 12% year over year
• Detached sales down 1% annually
• Condo sales down 19% annually
Detached and Condo Prices Continue Their Record-Setting Trend
Winnipeg’s residential detached homes set new monthly and year-to-date average price records for the 10th consecutive month in 2025. October’s average price of $442,104 was 4% higher than last year, supported by steady demand and fewer available listings. Condominiums also posted significant price gains, with the average price rising 12% annually to $297,428, even as sales volume declined.
Winnipeg Year-to-Date Momentum Strengthens
Year-to-date MLS activity reflected a robust performance, with 13,502 total sales up 5% and dollar volume surpassing $5.4 billion, a 12% increase over 2024. Residential detached sales reached 9,213, up 4% annually, while the average price rose 7%. Condominiums recorded 1,941 sales, up 1%, with average pricing up 3%. Regional results varied but remained broadly positive, with Winnipeg’s detached market up 3% in sales and 6% in average price, and several surrounding regions recording notable price appreciation.
Regional Snapshot Across the Winnipeg Market Area
• Winnipeg: average detached price $464,089, up 6%; sales up 3%
• Outside Winnipeg: average detached price $433,476, up 9%; sales up 7%
• Lake Country: average detached price $250,790, up 7%; sales flat
• Steinbach: average detached price $407,670, up 6%; sales up 2%
• Morden/Winkler: average detached price $371,946, up 13%; sales down 12%
• Gimli: average detached price $305,167, up 6%; sales down 4%
• Morris: average detached price $258,200, down 1%; sales up 11%
• Niverville/Ritchot: average detached price $522,587, up 4%; sales down 5%
What These Trends Mean for Winnipeg Homebuyers and Homeowners
Homebuyers in Winnipeg continue to face a market shaped by firm pricing and steady demand, especially in the residential detached segment, where values remain on an upward trend. Sellers benefit from sustained price strength and balanced inventory, creating conditions that support well-prepared listings across most regions. Homeowners looking to refinance have built up equity over the last year to move forward with their plans.
Month-over-Month Market Expectations for Winnipeg
Transactions – Number of Sales
The number of sales in Winnipeg was 1,429 during October 2025, that’s decreased by 4.5% compared to the previous month. On a year-over-year basis, sales in Winnipeg have increased by 6.9% over the last 12 months.
New Listings
The number of new listings in Winnipeg was 1,791 during October 2025, that’s decreased by 21.8% compared to the previous month. On a year-over-year basis, new listings in Winnipeg have decreased by 0.7% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Winnipeg was 80% during October 2025, indicating a Sellers. On a monthly basis, that’s increased by 22.1% compared to the previous month. Winnipeg’s yearly sales to new listings ratio has increased by 7.7% over the last 12 months.
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 Summary
The average rent in Winnipeg was $1,628 for the month of October 2025, which increased by 1.7% on a year-over-year basis.
The average rent for a bachelor apartment in Winnipeg was $0 for the month of October 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Winnipeg was $1,402 for the month of October 2025, which increased by 1.6% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Winnipeg was $1,837 for the month of October 2025, which increased by 3.2% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Winnipeg was $1,402 for the month of October 2025, which increased by 3.2% on a year-over-year basis.
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
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 2.25%, and nesto’s prime rate is set to 4.45%.
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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