Winnipeg Housing Market

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Market Report Summary for December 2021
Updated January 13th, 2022
  • The average sold price in Winnipeg for December 2021 was $353,386, which represents a modest 11% year-over-year increase
  • Condos had a steep drop-off in sales year-over-year while active detached home listings are down significantly year-over-year
  • Detached home prices increased by 12% year-over-year to $382k
  • Attached home prices increased by 20% year-over-year to $341k
  • Condo prices increased by 3% year-over-year to $243k

Winnipeg Housing Market Overview

Data for December 2021
Avg. Sold Price:$353,386
All Property Types:$353,386
Detached:$382,317
Attached:$340,816
Condo Apartment:$243,058
Transactions (Buy/Sell):926
All Property Types:926
Detached:584
Attached:89
Condo Apartment:143
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The average sold price in Winnipeg for December 2021 was $353,386, which represents a modest 11% year-over-year increase. December 2021 was a quieter month for Winnipeg’s housing market to end off a busy year. There were 926 sales in Winnipeg in December 2021, a 5% decrease from last year. Breaking down into Winnipeg’s three main property categories, sales of detached homes are down 37% year-over-year, attached home sales are down 1% year-over-year, and condominium sales are down 4% year-over-year.

Detached homes had a steep drop-off in sales this month compared to last year along with a marked decline in active listings year-over-year. Active detached home listings are down 31% year-over-year in Winnipeg, while active attached home listings are down only 5% year-over-year. Condominiums had a sizeable decrease in active listings with a decrease of 25% year-over-year.

Winnipeg’s 11% YOY increase in average sold prices and 4.5% YOY decrease in transactions appears to be modest changes in comparison to other housing markets in Canada. Comparatively, transactions in Calgary’s housing market are up 45% YOY while transactions in Edmonton’s housing market are up 19% YOY. However, Winnipeg’s 11% year-over-year price increase does beat out Edmonton’s meager 5% YOY increase in sold prices and handily beats off Calgary’s 7% YOY increase in sold prices.

December’s big mover for Winnipeg’s market continued to be the performance of attached homes. The average sold price of attached homes in Winnipeg was $340,816 for December 2021, a 20% increase year-over-year. That is also a 2% monthly increase from November 2021. In comparison, average sold prices for detached homes had a 12% increase year-over-year to $382,317 while condo apartments increased by just 3% year-over-year to $243,058.

Looking at average sold prices for the year, detached homes had an average selling price of $379,844, attached homes had an average selling price of $311,506, and condominiums had an average selling price of $244,957. Vacant land in Winnipeg, often rural land lots, sold for an average price of $118,413 in 2021. The 1,146 vacant land sales in 2021 was almost as much as the 1,395 attached home sales for the year.

Home Prices in Winnipeg

Single-Family Detached Home Prices in Winnipeg

Statistics for December 2021
Average Price: $382,31711.7% from Dec. 2020
Units Sold: 584-36.9% from Dec. 2020

Attached Homes Prices in Winnipeg

Statistics for December 2021
Average Price: $340,81619.8% from Dec. 2020
Units Sold: 89-1.1% from Dec. 2020

Condo Prices in Winnipeg

Statistics for December 2021
Average Price: $243,0583.3% from Dec. 2020
Units Sold: 143-4.0% from Dec. 2020

Winnipeg Housing Market Statistics for All Property Types in December 2021

$353,386
Avg. Sold Price
-0.67%
Monthly change
4%
Quarterly change
11%
Annual change
926
Transactions (Buy/Sell)
-26%
Monthly change
-32%
Quarterly change
-5%
Annual change

Average Sold Price

Total Transactions

Property Type Distribution

Detached
Attached
Condominiums

Housing Markets Across Canada

Interactive Map - Hover Over Province for Details
ONQCMBSKABBCYTNTToronto$1,163,323Vancouver$1,211,200Hamilton$835,640Montreal$565,421Ottawa$644,158Edmonton$384,319Calgary$491,160Winnipeg$355,765
$270k to $320k
$320k to $340k
$340k to $370k
$370k to $440k
$440k to $600k
$600k to $990k

Market Overview for Detached Homes in December 2021

$382,317
Avg. Sold Price
-0.72%
Monthly change
5%
Quarterly change
12%
Annual change
584
Transactions (Buy/Sell)
-28%
Monthly change
-44%
Quarterly change
-37%
Annual change

Average Sold Price

Transactions

Market Overview for Attached Homes in December 2021

$340,816
Avg. Sold Price
2%
Monthly change
10%
Quarterly change
20%
Annual change
89
Transactions (Buy/Sell)
-25%
Monthly change
-18%
Quarterly change
-1%
Annual change

Average Sold Price

Transactions

Market Overview for Condominiums in December 2021

$243,058
Avg. Sold Price
0.07%
Monthly change
5%
Quarterly change
3%
Annual change
143
Transactions (Buy/Sell)
-24%
Monthly change
-31%
Quarterly change
-4%
Annual change

Average Sold Price

Transactions

Glossary and Definitions

MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.

MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.

Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:

  • Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
  • Liability for any property damage or bodily injury suffered on strata property
  • Any fixtures that are part of the "standard unit" or original construction of each unit

Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.

Property types

Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.

Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.

Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.

Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.

Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.

Property Classes

Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.

Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.

Housing Markets Across Canada

Data sourced from the Winnipeg Real Estate Board (WRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.