February 2025 was a milestone month for the Winnipeg real estate market, with residential detached homes reaching their highest average price on record. According to the Winnipeg Regional Real Estate Board (WRREB), the average price for residential detached homes climbed to $458,064, surpassing the previous record set in May 2022 by more than $3,000.

Market Overview

February 2025 saw a total of 885 All MLS® sales, up 11% from February 2024, but slightly below the 5-year average by 2%. The total dollar volume of sales reached an impressive $348 million, marking a 27% increase over last year. However, active MLS® listings were down 15% from February 2024, with 2,787 listings available.

Residential Detached Market Highlights

• 550 residential detached homes were sold in February, up 11% year-over-year.
• The average price increased by 14% to $458,064 compared to February 2024.
• Sales activity was strongest in Waverley West within Winnipeg, while Steinbach led the market outside Winnipeg.

The most active price range for residential detached homes was $600,000–$699,999, accounting for 13% of all detached sales. Additionally, 16 properties sold for over $1 million in February, including one nearing $3 million.

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Condominium Market Shows Steady Growth

Condominium sales also performed well, with 156 units sold—up 19% from last year. The average price rose to $274,036, a 2% increase over February 2024.

• Sales within Winnipeg increased by 5% to 122 units with an average price of $270,011.
• Outside Winnipeg, sales surged 127% with an average price increase of 10% to $288,480.
• The most active price range for condominiums was $175,000–$199,999.

Residential Attached Market Performance

Residential attached homes also saw growth, with 86 sales recorded—up 13% from February 2024. The average price increased by 6% to $379,152.

• Sales within Winnipeg rose 22% to 66 units with an average price of $388,514.
• Outside Winnipeg, sales dipped by 9% but the average price increased by 17% to $348,255.

Regional Highlights

The regional market also reflected strong activity:

• Winnipeg sales rose 2% with an average price of $438,402.
• Sales outside Winnipeg jumped 15%, with the average price increasing 12% to $437,546.
• Notable activity included:
  • Niverville/Ritchot: Sales climbed 53% to an average price of $499,874.
  • West St. Paul: Sales increased 271% with an average price of $627,572.
  • Ste. Anne: Sales doubled with an average price increase of 10% to $378,937.

Market Outlook

Despite rising prices, WRREB President Daphne Shepherd highlighted that the Winnipeg market remains one of the most affordable in Canada. “February marks the seventh consecutive month where All MLS® sales ranked among the top three for that month historically,” said Shepherd.

Marina R. James, CEO of WRREB, emphasized that REALTORS® remain essential for navigating this competitive market. “Whether you’re buying, selling, or looking for renovation advice, REALTORS® provide the market insights and guidance needed to succeed.”

The Winnipeg real estate market’s strong performance in February 2025 underscores the continued demand and resilience in the housing sector, setting a solid foundation for the months ahead.

Do you want to know more about buying or selling a home? Our Winnipeg real estate agents are standing by with the answers you need for an informed decision. Contact us today at info@goodfellowrealty.com or call 204-224-2551 to take the next step.