Winnipeg Real Estate Market Heats Up in September

Winnipeg’s housing market saw renewed strength in September, with performance metrics rising across nearly every category. MLS® sales, dollar volume, and average prices all moved upward compared to last year and the five-year average. Both the residential detached and condominium segments achieved new record average prices for the month of September, suggesting a potential rebound in market confidence, according to the Winnipeg Regional Real Estate Board.

Source: Winnipeg Regional Real Estate Board

Sales and Listings

In September, total MLS® sales saw a 12% increase over September 2024 and 7% higher than the five-year average. The total dollar volume surged to more than $547 million, up 17% year-over-year. 

Active listings tightened, declining 8% from last year to 3,704 and sitting 1% below the five-year average. This contraction in supply, paired with sustained demand, helped push prices higher across the board.

Property Type Performance

Detached Homes

Detached homes continued to dominate the greater Winnipeg region, with sales in September increasing 6% from 2024 and 4% above the five-year average. The average sale price climbed to a record $436,507, a 6% annual increase and 10% above the five-year average. Inventory tightened sharply, with 1,752 active listings, dropping 12% year-over-year.

The most active price ranges were $300,000 to $399,999 and $400,000 to $499,999, which together accounted for nearly 44% of total detached transactions. Luxury activity also gained momentum, with 16 homes selling for $1 million or more, including one above $2.2 million, compared to only nine in the same month last year.

Within the city, Winnipeg recorded 587 detached sales, up 4% from last year, with an average price of $449,568. Outside Winnipeg, 348 detached homes sold, for an 11% annual increase, with average prices rising 12% to $414,477. The Steinbach area led sales in the broader region, followed by Morden/Winkler, where inventory dropped 21%.

Condominiums

Condominiums in the region posted even stronger percentage gains. Sales rose 16% year-over-year to 201, while the average price hit a new September record of $297,213, up 7% from 2024 and 11% above the five-year norm. Active listings fell by 7% from last year.

Most condominium sales occurred in the $200,000 to $299,999 range, representing roughly one-third of all transactions, followed by the $100,000 to $199,999 range at 28%. Within Winnipeg, an increase of 13% transactions was seen, with an average price of $296,786. Osborne Village once again led the city in condo activity, with Fort Richmond following close behind. Beyond city limits, a rise of 29% from 2024 numbers was recorded, at an average of $299,169. Morden/Winkler and Gimli stood out as the most active markets outside Winnipeg.

Residential Attached Homes

Attached properties delivered the strongest growth across all property types, with a 47% surge in sales from last year and a 33% increase over the five-year average. The average price rose 9% year-over-year to $393,062, while active listings remained relatively stable. Sales in Winnipeg climbed 53% from 2024, while those outside the city rose 29%, suggesting broad-based demand for mid-priced, lower-maintenance housing.

Year-to-Date Market Context

September’s performance capped off a strong third quarter and solidified 2025 as one of Winnipeg’s better-performing years on record. For year-to-date numbers, total MLS® sales were up 6% from 2024 and ranked as the third-highest total ever recorded. Year-to-date dollar volume surpassed $4.8 billion, an increase of 12%, while new listings remained steady.

Detached Homes

Residential detached homes led overall activity with 8,300 year-to-date sales, up 5% from last year, and an average price of $454,488, up 8%. Within Winnipeg, Waverley West and East Transcona were the top-selling areas, while Steinbach and Morden/Winkler led outside the city. Notably, Morden/Winkler’s average detached price jumped 14% year-to-date.

Condominiums

Condominiums also showed consistent momentum, with year-to-date rising 4% and an average price of $282,922, for an increase of 2% over the previous year. Osborne Village remained the top-performing condo market within Winnipeg, with Waverley West and Downtown tied for second. Outside the city, Morden/Winkler again led sales, followed by Niverville/Ritchot.

Market Outlook

With September marking new price highs and consistent year-to-date gains across all housing types, Winnipeg’s real estate market continues to demonstrate resilience. Low inventory and sustained buyer demand are maintaining upward pressure on prices, while strong regional activity beyond the city underscores broad-based confidence in Manitoba’s housing sector heading into the final quarter of 2025.