While Canada’s housing market is slowing down in many areas, Winnipeg is doing its own thing. The Winnipeg Regional Real Estate Board (WRREB) says that prices for houses, condos, and townhouses have all been going up this year. This makes Winnipeg an interesting place right now. It’s still cheaper than bigger cities in Canada, but it’s growing fast and attracting buyers. Let’s check out Winnipeg Real Estate Market 2025: Trends, Prices & Forecast
Here is Winnipeg Real Estate Market 2025: Trends, Prices & Forecast
What’s Happening with Prices?
Overall Home Prices
In October 2025, the average price of a home in Winnipeg was about $380,800, which is 5.4% higher than last year.
Some months were wilder. In February 2025, the average price for a detached house was $458,064, a jump of 14% from the year before! That was the highest it’s ever been in a month.
Overall, 2025 has been breaking price records for houses and condos.
Houses: Still the Most Popular
Houses are still the hottest properties.
In October 2025, the average house cost $442,104, up 4% from October 2024.
Back in February, the record of $458,064 showed how much people want houses – especially families, people moving up, and those who just want more space.
Condos & Townhouses: Growing, but Not as Fast
Condo prices in October 2025 were about $297,428, which is a 12% increase from last year. But, fewer condos were sold (down about 19%).
This means that while fewer condos are being sold, the ones that do sell are more expensive. Maybe people are picking the newer condos or ones in good locations.
Townhouses and duplexes are also getting more attention. Some months have shown more sales and higher prices, even though there aren’t as many available.
Not Enough Homes: Sellers Have the Advantage
The number of homes available has been going down. In October 2025, there were about 3,519 homes listed, which is 3% less than last year.
Because there aren’t many homes for sale and people still want to buy, it’s a good time to be a seller – especially if you have a house or family-friendly property in the mid-price range.
Basically, there’s a good amount of interest, not enough homes, and prices are going up. That’s a seller’s market.
Why Is This Happening?
A few things are going on in Winnipeg’s housing scene:
- Cheaper than Big Cities: Winnipeg is still more affordable than places like Toronto or Vancouver. This brings in first-time buyers, families, and people moving from other cities.
- Not Enough Homes: It’s hard to find a home, especially a house. So, buyers have fewer choices, which makes prices go up.
- People Want Houses: Houses with yards and space are still popular with families and those who want to upgrade.
- Stable Economy: Winnipeg’s job market is pretty steady, and people are making a bit more money (compared to some other places). This helps people buy homes.
What’s Going to Happen?
Experts think Winnipeg’s housing market will stay pretty strong, but it probably won’t grow as fast as it did in 2025.
One report says that home prices in Winnipeg might go up about 3% in 2026.
Home sales probably won’t increase as much – maybe only 0.5%.
If interest rates don’t change much and some new apartments/condos are built, there might be more homes available. This could take some pressure off the house market. We might also see more rentals and townhouses being built.
For buyers: This could be a good time to buy before prices increase too much.
For sellers: 2025 was a great year, but don’t expect the same growth.
For investors: Look at apartments or rentals. They might be a better investment than trying to make money off rising house prices.
What Could Go Wrong?
Things could change if:
- Interest rates go up (or mortgages get more expensive). This would make it harder for people to afford homes.
- A bunch of new condos/rentals flood the market. Then there would be too many homes and not enough buyers, which could lower prices.
- The economy slows down or people lose their jobs. This would make people less confident about buying homes.
- Things get shaky in Canada or the world. Problems with the economy, interest rates, or people moving to different places could affect Winnipeg’s housing market.
What This Means for You
- For Buyers: It’s still a seller’s market, but 2026 might be a little better for buyers. If you want a house, start looking now before prices go up even more. Condos and townhouses might be cheaper ideas if you don’t need a lot of room.
- For Sellers: If you’re thinking about selling, now is a good time. You might want to sell soon before the market cools down. But if you’re not in a rush, you could still make a little more money as prices go up.
- For Investors: Apartments, rentals and townhouses seem like good investments right now, especially if people keep wanting rentals or cheaper homes. Houses might still be good, but they might not increase in price as quickly. Watch what’s happening with the number of homes available and the rental market.
Final Thoughts
Winnipeg’s housing market has been strong in 2025, which is rare compared to other cities in Canada. Prices are up, there aren’t many homes available, and there’s a good interest from buyers.
Looking ahead to 2026, the market should keep growing, but not as fast. Winnipeg is still a good place for buyers, sellers, and investors, but it’s important to know what you’re doing.
FAQs Regarding Winnipeg Real Estate Market 2025: Trends, Prices & Forecast
1. What’s the average house price in Winnipeg in 2025?
Around October 2025, the average price for a used house in Winnipeg is about C$380,800. For single houses, it’s around C$442,104, and condos are about C$297,428. House prices have mostly gone up compared to last year.
2. Is it smart to buy a house in Winnipeg in 2025?
Definitely. Winnipeg is still cheaper than big Canadian cities like Toronto and Vancouver. There’s steady interest in buying, prices aren’t climbing too fast, and interest rates are fairly low. That makes it a good spot for people buying their first home, families, and those looking to invest.
3. Will house prices go up in 2026?
People are saying that house prices in Winnipeg will probably go up a bit, maybe around 3%, in 2026. They think a few more houses will be sold, making it a fair market for both buyers and sellers.
4. What kind of houses are people really wanting in Winnipeg?
Single houses are still the most wanted because they have space, are good for families, and are a good long-term buy. More people are starting to like condos and townhouses, especially people buying their first place and those who want something cheaper.
5. How are condos doing in Winnipeg?
In 2025, condo prices are going up even though fewer are being sold. This means people are picky and want nice condos in good spots that are new. Condos are a cool cheaper choice.
