Winnipeg Housing Market
- December's average price represents a monthly increase of 5.8% and a year-over-year gain of 7.5%.
- Detached home average price increased by 10.3% year-over-year to $467k.
- Attached home average price decreased by 3.2% year-over-year to $373k.
- Condo average price decreased by 5.9% year-over-year to $257k.
- January 21, 2026 Update: Today’s Lowest mortgage rate in Winnipeg is 3.45% for 5-Year Variable.
Winnipeg Housing Market Overview
Winnipeg Housing Market: Price Movements for December 2025
Benchmark Home Price | $380,400 | 0.6% 1-Month Change | 6.2% 1-Year Change |
Average All Property | $395,201 | +5.8% 1-Month Change | +7.5% 1-Year Change |
Average Residential Detached | $467,378 | +11.2% 1-Month Change | +10.3% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Home Prices and Transactions in Winnipeg
The average home price for all home categories in Winnipeg was $395,201 in December 2025. December's average price represents a 5.8% monthly increase and a 7.5% year-over-year gain compared to December 2024, indicating the market rebounded strongly from November's seasonal softness.
Winnipeg's housing market saw 752 home sales in December 2025. This number represents a 1.3% increase in activity compared with December 2024. The combination of rising prices and increased transaction volume points to sustained strength entering the new year. Year-to-date sales of 15,180 units remain up 4% from last year, demonstrating consistent market strength throughout 2025.
The average sold price of detached homes in the Winnipeg area was $467,378 in December 2025. This represents a 10.3% year-over-year increase and is 11.2% higher than last month. In December, 466 detached homes sold (31% lower YoY). December's strong performance pushed year-to-date residential detached average prices to $451,852, setting new records for 2025, up 7% from 2024. Notably, residential detached average prices broke monthly records in every month of 2025 except November. The most active price range was $300,000–$399,999 (21% of all detached sales).
The average sold price of an attached home in December 2025 was $372,632. This is down 3.2% yearly and up 4.4% from last month. 65 attached houses changed owners in December (7.1% decrease YoY).
During December, 129 condominium units changed hands (7.5% increase YoY). The average sold price of a condo was $256,713. This is down 5.9% annually and down 5.9% monthly. Despite the December decline, year-to-date condominium average prices of $281,927 is up 3% from 2024.
The Winnipeg real estate inventory currently comprises 2,292 properties. Inventory levels in December 2025 are down 4.2% compared to last year, indicating continued tight supply year-over-year. The 3.0 months of supply suggest a balanced market trending toward seller-favorable conditions.
Active Listings by Type:
- Detached properties: 910 (down 9.5% annually)
- Condominiums: 284 (up 9.2% annually)
- Attached homes: 218 (up 23.9% annually)
Winnipeg Housing Market Expectation: A Comprehensive Outlook
The Winnipeg housing market is expected to remain generally active and competitive, characterized by moderate price appreciation through 2026. Strong local demand factors primarily drive this positive outlook, but significant external risks from global trade critically temper it.
1. Core Positive Drivers (Local Demand)
The primary forces sustaining the market are structural and demographic:
- Affordability Advantage: Winnipeg remains significantly more affordable than major metropolitan areas (Toronto, Vancouver), attracting both inter-provincial and local buyers and sustaining a strong floor for demand.
- Immigration Lag Effect: Despite federal policy slowing the intake of new non-permanent residents, a large existing pool of recent Permanent Residents (PRs) who arrived between 2021 and 2024 are now transitioning from the rental market to first-time homeownership. This demographic shift will continue to fuel robust demand in the entry-level and affordable detached segments.
- Tight Inventory: A persistent shortage of active listings, particularly for desirable single-family homes, will fuel competition and bidding wars in key price brackets.
2. Critical Downside Risks (External Factors)
International trade policy introduces significant, unavoidable risks that could temper the positive outlook:
- Elevated Construction Costs (US Trade): A trade war with the US, driven by tariffs (on either side), is expected to increase construction costs. This is due to Canada's reliance on US imports for specialized finished goods (like HVAC and fixtures) and the general instability and compounded costs within North American supply chains.
- Impact: Higher costs erode Winnipeg's key affordability advantage and can slow down new housing starts, worsening the long-term supply shortage.
- Economic Weakness (China Trade): Persistent trade conflicts, particularly with China, pose a risk to Manitoba's export-heavy economy (especially agriculture).
- Impact: A resulting economic slowdown or job uncertainty would severely dampen overall consumer confidence, potentially leading to slower sales and moderating price growth.
In summary, the Winnipeg market is expected to perform well due to its internal dynamics, but its actual performance will be highly sensitive to external global trade and tariff negotiations that dictate the cost of new housing and the health of the provincial economy.
Note: Average Home Price is calculated by dividing the total dollar volume of sales by the total number of sales.
Note: This report is based on the Winnipeg Regional Real Estate Board's monthly data. Please note that minor variations in percentages may occur compared to the board's release, as we record and maintain a consistent data set each month and do not account for any potential post-release adjustments made by the board.
Home Prices in Winnipeg
Winnipeg Housing Market Statistics for All Property Types in December 2025
Average Sold Price
Total Transactions
Property Type Distribution
Housing Markets Across Canada
Market Overview for Detached Homes in December 2025
Average Sold Price
Transactions
Market Overview for Attached Homes in December 2025
Average Sold Price
Transactions
Market Overview for Condominiums in December 2025
Average Sold Price
Transactions
Glossary and Definitions
MLS® Home Price Index (HPI): Developed by the Canadian Real Estate Association (CREA), the MLS® HPI is the most advanced tool for tracking price trends in the Canadian housing market. Rather than using simple average prices, which can be skewed by the mix of homes sold in a given month, the HPI tracks the value of a "Benchmark Home"—a property with typical attributes for its specific neighborhood. This allows for an accurate "apples-to-apples" comparison of home values across different regions and time periods, independent of a property's specific features or seasonal volatility. To ensure the index remains relevant, CREA performs an annual review every May to account for evolving market dynamics.
MLS® HPI Benchmark Price: This is the dollar value assigned to a "typical" home in a specific neighborhood. While the HPI itself is an index number used to track trends, the Benchmark Price translates that data into a real-world dollar figure, representing what a standard home with average features (like square footage, rooms, and lot size) would likely sell for in today's market.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to cover 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.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
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.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.