The Winnipeg real estate market showed solid activity in March 2025, with increases in sales, average prices, and overall market momentum heading into spring.

Sales and Listings

In March, there were 1,189 MLS® sales recorded across the Winnipeg Regional Real Estate Board’s market region. This marks a 6% increase compared to March 2024. While sales were still 11% below the 5-year average, demand remains steady.

Active listings at the end of March stood at 3,096 — a 9% decrease from March of last year. New listings coming to market were slightly down by 2% year-over-year, indicating a tighter inventory environment.

Price Trends

Residential detached homes saw a strong increase in average price, reaching a record high of $470,399, which is up 12% from March 2024.

Condominiums averaged $277,068, a modest 1% increase year-over-year.

Attached homes were down slightly, with an average price of $339,349, a 2% decrease from last March.

First Quarter 2025 Overview

Total MLS® sales: 2,791 (up 9% from Q1 2024)

Dollar volume: $1.1 billion (up 16%)

Residential detached sales: up 5%, with average price at $452,248 (up 11%)

Condominium sales: up 12%, though average price slightly declined by 1%

Attached homes sales: up 22%, despite a 2% drop in average price

Curious about the specific neighbourhoods in Winnipeg? Get to know a few of our favourite communities better in the posts below:

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Top Areas for Sales

Residential Detached: Waverley West led the way within Winnipeg, followed by East Transcona. Outside the city, Steinbach and Morden/Winkler saw strong sales.

Condominiums: Osborne Village had the highest sales activity, with Downtown, Waverley West, and Richmond West also seeing consistent activity. Morden/Winkler led condo sales outside Winnipeg.

Luxury Market Snapshot

There were 13 homes sold for $1 million or more in March — a significant rise from 4 during the same month in 2024. The highest price recorded was $2 million. Year-to-date, there have been 37 sales over $1 million, more than doubling last year’s Q1 total.

Looking Ahead

As Winnipeg heads into the spring real estate season, market activity remains strong across all property types. Despite a slight decrease in listings, buyer interest continues to drive sales and prices, especially in high-demand neighborhoods.

Whether you’re looking to buy, sell, or stay informed, understanding these trends can help you make smart real estate decisions in 2025.

Source: Winnipeg Regional Real Estate Board – March 2025 Market Release

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.