Winnipeg’s housing market remains competitive with record-high average prices

The Winnipeg housing market showed a mix of cooling sales and record-breaking prices this past August. According to the Winnipeg Regional Real Estate Board, overall MLS® sales dipped compared to last year, but both detached and condominium prices climbed to their highest August levels ever.

Key Highlights from August 2025

• All MLS® Sales: 1,402 – down 5% from August 2024 and 3% below the 5-year average.
• Active Listings: 3,624 – down 10% year-over-year.
• Total Dollar Volume: Over $561 million, up 3% from August 2024.

Residential Detached Homes:

• Sales: 970 – down 5% from last year.
• Average Price: $450,596, up 8% year-over-year.

Condominiums:

• Sales: 204 – down 3% from August 2024.
• Average Price: $280,143, up 4% year-over-year.

Year-to-Date Snapshot:

• All MLS® Sales: 10,773 – up 5% from 2024.
• Total Dollar Volume: Over $4.3 billion, up 12%.
• Detached Homes: 7,367 sales (+5%), average price $456,726 (+8%).
• Condos: 1,571 sales (+2%), average price $281,261 (+2%).

Curious about buying or selling Real Estate in Winnipeg? Find some helpful information in the posts below:

• Top Neighbourhoods in Winnipeg: Where to Live, Buy, and Invest with Goodfellow Realty
• Thinking About Relocating to Winnipeg? Here’s What Families Should Know
• Is Winnipeg Real Estate Becoming More Valuable?

Regional Market Trends

• Winnipeg: Average detached price $469,029 (+7%), sales up 3%.
• Outside Winnipeg: Average detached price $434,357 (+9%), sales up 8%.
• Strongest Growth: Morden/Winkler (+11% average price, though sales dropped 15%) and Gimli (+11% average price, -4% sales).
• Luxury Market: 13 detached homes sold at or above $1 million, the highest topping $1.75M.

Market Dynamics

The most active price range for detached homes was $300,000–$399,999, making up 25% of all sales.

For condos, the $200,000–$299,999 range led with 32% of sales.

Top-selling neighbourhoods: Winnipeg Detached: Waverley West, followed by Garden City/Amber Trails.

Outside Winnipeg Detached: Steinbach and Morden/Winkler.

Winnipeg Condos: Osborne Village and Waverley West.

Outside Winnipeg Condos: Niverville/Ritchot, followed by Steinbach.

What This Means for Buyers and Sellers

While sales volume is softening, limited inventory and steady demand continue to push prices upward. Buyers are facing more competition in affordable price ranges, while sellers are benefiting from rising property values.

As Marina R. James, CEO of the Winnipeg Regional Real Estate Board, noted:

“In a residential real estate market seeing unprecedented demand with limited inventory, using a REALTOR® has never been more important… REALTORS® provide invaluable advice, strategy and data-backed expertise to ensure your interests are always at the forefront.”

👉 Bottom Line: August 2025 shows that while the number of sales has slowed, Winnipeg’s housing market remains competitive with record-high average prices. Whether you’re buying, selling, or simply watching the market, staying informed and working with a REALTOR® is key in today’s environment.

Thinking of buying or selling in Winnipeg or surrounding areas? Connect with the team at Goodfellow Realty Ltd. — your local experts ready to help you navigate every corner of the real estate market.. Contact us today at info@goodfellowrealty.com or call 204-224-2551 to take the next step.