Winnipeg Real Estate Market Update for May 2025

By Tara Zacharias, REALTOR® | Real Broker

The May 2025 real estate market in Winnipeg continues to show strength, resilience, and regional shifts. Backed by the latest stats from the Winnipeg Regional Real Estate Board, here's a look into current trends for buyers, sellers, and investors.

Market Snapshot - Residential Types

The condo segment recorded its highest-ever average price, while detached homes remain the most active category.

• Residential Detached

  • 1,724 listings | 1,259 sales

  • Average Price: $459,320 | Average Size: 1,370 sq ft

• Condominiums

  • 451 listings | 232 sales

  • Average Price: $297,864 | Average Size: 1,068 sq ft

• Residential Attached (e.g., townhomes)

  • 244 listings | 153 sales

  • Average Price: $381,871 | Average Size: 1,311 sq ft

 Residential Detached Sales - A Long-Term Look

Winnipeg 

• An 8% jump in average price to $476,667

• Sales were up 2% year-over-year

Outside Winnipeg

• 14% more detached sales

• A strong 8% price increase to $429,396

Condominium Market 

Despite fewer sales, condo prices climbed sharply, especially inside Winnipeg. This indicates a strong demand in a tight supply environment.

• All Condos Price up 7%, sales down 16%

• In Winnipeg Sales down 15%, average price up 8%

• Outside Winnipeg Sales down 17%, price up modestly by 3%

Residential Attached Performance

This segment saw one of the strongest sales rebounds, with townhomes gaining popularity due to affordability and space.

• Sales Up 25% overall

• Winnipeg Sales up 32%, price up 6%

• Outside Winnipeg Sales up 12%, but a slight decline in price

Market Region Breakdown

The strongest gains in price and volume were seen in the following areas,

• Niverville/Ritchot +37% in sales

• West St. Paul +58% in sales despite a slight decline in average price

• Steinbach A standout with +25% sales and +8% in price

Meanwhile, markets like Morden/Winkler and Gimli saw sales slow, despite solid price appreciation.

All MLS® May 2025 Summary

A smaller pool of listings helped drive up competition and prices, especially in detached properties.

“May 2025 recorded the highest monthly condominium average price ever recorded in our market region. This was the best May on record for total dollar volume and detached home pricing,”
— Michael Froese, President, WRREB

Local Price Map for Winnipeg & Surrounding Areas

This map shows average home prices by subregion. Local knowledge matters even within Winnipeg, pricing varies dramatically depending on the area.

• Southwest Winnipeg $609,441 highest average

• West Winnipeg $352,194 most affordable in the city

• Southeast Winnipeg $505,619 consistent and in-demand

• Rural Municipality $435,634 growing as a popular option

Residential Detached MLS® Sales Volume May (2016–2025)

This graph tracks May sales volume from 2016 to 2025 for residential detached homes. May 2025 continued a recovery trend post-pandemic and reflects renewed buyer activity despite higher borrowing costs.

Final Takeaway for Buyers & Sellers

The market in May 2025 was fast-moving and competitive, with higher prices, fewer listings, and strong buyer interest across all segments. Detached homes and attached properties saw rising values, while condos achieved record-breaking prices despite lower volume.

Whether you're buying or selling, strategy matters more than ever. Let’s talk about how to make the current market work for you.

Tara Zacharias, REALTOR® 

204-293-0933
tara@tarazacharias.com

Real Broker