Written by Cyndy Erickson, Winnipeg Real Estate Broker

Winnipeg’s real estate market is tight and moving. Sales are up ~1%, the average price hovers near $349,446.72, and active listings are down—pressure that favors prepared buyers and strategic sellers. Waverley West and St. Essential are drawing strong demand. Downtown? A tale of two markets: attached homes surging, detached behaving differently. And yes, rising mortgage rates can pinch buying power. Have questions? Let’s talk strategy.

What Is The Current Winnipeg Real Estate Market Snapshot?

Headlines first: As of October 2025, Winnipeg logged 1,344 MLS® sales—about a 1% increase year-over-year. The average sale price sits at approximately $349,446.72. Active listings eased to 3,519, tightening selection and accelerating decision cycles.

Under the surface: Year-to-date sales are up 5.04%. A sales-to-listing ratio near 75.26% signals momentum; average time to sell is ~89.23 days. For buyers and investors, that’s a market that rewards readiness.

Data context: Pair local MLS® figures with national lenses from WinnipegREALTORS®, CREA, and CMHC to triangulate trend direction.

Which Citywide Metrics Should You Watch?

Start broad. Then zoom. Track sales volume, average price, new/active listings, sales-to-listing ratio, and days on market. Then split by neighborhood—Waverley West, St. Vital, Downtown—because micro-markets move differently.

What Are Market Trends In Waverley West?

Growth with heat. Residential detached sales are climbing, echoing a citywide ~6% lift. The average price around $349,446.72 reflects sustained demand. A sales-to-listing ratio near 75.26% = competitive conditions. Total MLS® dollar volume up ~7% keeps Waverley West on investors’ radar.

What Are Market Trends In St Vital?

Vibrant and rising. Average detached prices ~$473,131—about 8.2% year-over-year growth—pull first-time buyers into the $350,000–$500,000 bracket. Inventory is tightening (~-10% YoY), so expect competitive offers. The sales-to-listing ratio around 75.26% underscores demand, while citywide year-to-date sales at +5.04% set a constructive backdrop.

What Are Market Trends In Downtown?

A split personality. Detached: sales off sharply (~-80%) with a 0.00% ratio; average price ~$305,000 despite volume softness. Attached: surging—sales up ~50%, new listings up ~400%. Average attached price ~$193,333.33. Days on market for detached rising (~+128.57%). Translation: product type matters.

Which Winnipeg Neighborhoods And Municipalities Are Gaining Momentum?

North East Market climbs. Detached sales at 118, YTD up 1.12%; average price up 7.48% to $390,866.02. The average detached home price in Southeast Winnipeg reached $481,560 in early to mid-2025, which reflects a 3.1% year-over-year increase from January 2024. RM of St. Anne: detached sales up 25%, average price ~$380,882. RM of Rockwood & Woodlands: sales up 12.77%, sales-to-listing ratio a robust 91.67%. RM of Macdonald: sales up 22.73%, average price ~$752,055.56. Momentum favors prepared capital.

What Should Buyers Do In This Market?

Move fast. Move smart. Pre-approval in hand. Terms tightened. Flexibility on closing. Consider a brief personal note to sellers. And partner with expert agents who know the block-by-block reality.

How Can Buyers Improve Offer Competitiveness?

• Price: Consider offers above the average $349,446.72 when competition spikes.
• Proof: Pre-approval signals readiness—especially in multiple-offer settings.
• Speed: Desirable listings move; the average ~89.23 days is just an average.

How Should Sellers Prepare In Winnipeg Today?

Price to the moment. Present to the max. With the average sale price near $434,513 and active listings around 3,519, competitive pricing + polished presentation wins. The 75.26% sales-to-listing ratio favors well-prepared listings—especially in the $350,000–$500,000 band first-time buyers hunt.

Where Are The Best Investment Opportunities In Winnipeg?

Follow momentum; price the risk. City YTD sales up ~6%. RM of Macdonald (detached +22.73%, avg $752,055.56) offers scale. RM of Ritchot (condo sales +19.51%) fits multi-family theses. North East stability (+1.12% sales; avg $390,866.02) fits conservative plays.

What Are Three Likely Winnipeg Market Scenarios?

1. Balanced uplift: Prices rise ~5% as first-time buyers drive absorption.
2. Under-$500k squeeze: Supply stays tight; multiple offers remain common.
3. Luxury rebound: Confidence returns above $900,000, aided by easing rates and improved stress-test affordability.

How Should You Interpret Winnipeg Market Data?

Read the signals, not just the stats. YTD detached average at $454,488 (+8%), active listings near 3,519 (tight), MLS® dollar volume above $540M (+7%). Together, they point to firm demand—particularly where value and location intersect.

Have More Winnipeg Housing Questions?

Ask early. Act informed. From mortgage math to closing costs, taxes to short-term rental rules, the right guidance transforms confusion into clarity.

How do mortgage rate changes affect monthly payments?

Rates rise; payments rise. A 1% increase adds roughly ~$50 per $100,000 borrowed—about $200 more on a $400k mortgage. Buying power tightens fastest in the $350,000–$500,000 band.

What are typical Winnipeg closing costs?

Budget the finish line. Legal: $1,000–$2,500. Disbursements: $300–$500. Inspection: $300–$600. Land transfer tax: Is 2% of purchase price. Add lender + insurance ($1,500–$3,000) for a realistic total.

Are property taxes increasing in Winnipeg?

Likely upward pressure. With average prices trending higher (~+7.8% recently), assessments and taxes often follow. Plan for modest increases as budgets and valuations adjust.

Can I rent out my Winnipeg home short-term?

Yes, within the rules. Check City of Winnipeg bylaws, permits/licensing, and insurance endorsements for short-term rentals (e.g., Airbnb). Compliance protects returns and avoids penalties.

What incentives exist for first-time Winnipeg buyers?

Tools that help you start. 30-year amortization options (lower payments), programs from local lenders/governments, and target ranges like $350,000–$500,000 make ownership more reachable—especially with prices projected to rise ~5% in 2025.

Frequently Asked Questions

Are House Prices Dropping in Winnipeg?

Mixed picture. Some segments are easing; others (like downtown attached) are rising. Read by product type and neighborhood.

Is It a Buyers or Sellers Market in Manitoba?

Leaning seller. Low inventory + strong demand = faster sales and competitive bids.

What Is the Real Estate Outlook for Winnipeg in 2026?

Constructive. Average prices could climb ~5%, driven by first-time buyers and improving affordability.

Is Now a Good Time to Buy in Winnipeg?

Yes—if you’re prepared. Tight inventory rewards pre-approved, decisive buyers who understand micro-markets.

Next step: Get tailored advice for your budget, neighborhood, and timeline. Talk to Cyndy → Contact Lifestyles Real Estate