Winnipeg & Area Real Estate Market Update – July 2025

July brought strong sales across most property types, even with fewer listings in many areas. Prices held steady or climbed, showing demand is still high.

Residential Detached Homes

July 2025 – All Residential Detached

• Sales up 9%, listings down 16% vs. last year → tighter market.

• Prices up 2% year-over-year and 8% above 5-year average.

• Buyers are acting fast when the right property comes up.

Winnipeg Detached

• Listings down 12%, sales up 6% → high competition.

• Average price $461,342 (+3% YOY).

• Prices are 8% higher than 5-year average.

Outside Winnipeg Detached

• Listings down 19%, sales up 15% 

• Price growth slower (+1%), but still 7% above 5-year average.

• Strong interest in suburban & rural homes for space/affordability.

Residential Attached Homes

 July 2025 – All Residential Attached

• Sales up 13%, listings nearly flat (-1%).

• Prices up 6% Year Over Year and 10% above 5-year average.

• Affordable alternative to detached homes, but prices rising.

Winnipeg Attached

• Listings up 15%, sales up 10%.

• Prices jumped 12% Year Over Year — outpacing detached homes.

• More choice, but buyers are still quick to act.

Outside Winnipeg Attached

• Listings down 28%, sales up 21%.

• Average price dropped 9% Year Over Year — possibly more entry-level sales.

Condominiums

July 2025 – All Condominium

• Sales up 12%, listings up 1%.

• Prices flat Year-over-year, but 5% above 5-year average.

• Solid option for budget-conscious buyers.

Winnipeg Condos

• Sales up 17%, listings up 7%.

• Prices unchanged Year Over Year, but 6% higher than 5-year average.

• Growing demand with good selection.

Outside Winnipeg Condos

• Listings down 22%, sales down 7% Year Over Year but 24% above 5-year average.

• Prices up 1%, holding steady despite lower sales.

July 2025 All MLS® Overview 

• Inventory down – Active listings drop 12% from last year.

• Sales up – 9% more sales despite fewer listings.

• Dollar volume surge – +12% Year-over-year, indicating strong buyer activity.

• Buyer caution – Fewer options and higher competition likely.

• Seller window – Low supply means stronger offers and faster sales possible.

Around Our Market Region 

• Prices up across the board – Most regions see 6–12% annual growth in average prices.

• Sales trends vary – Strong growth in Oakbank (+63% sales) vs. declines in Morden/Winkler (-17%).

• Buyer takeaway – Focus on micro-market trends; some areas are more competitive than others.

• Seller takeaway – Hot markets (e.g., Steinbach, Oakbank) present strong selling opportunities.

All Markets Are Local 

• Geography matters – Southwest highest at $605K; West & North under $375K.

• Buyer strategy – Decide between paying for a premium location vs. finding value in emerging areas.

• Seller advantage – Premium areas hold leverage; mid-priced zones can target buyers priced out of top-tier markets.

Lake Country Real Estate – First Half 2025 Highlights

 Sales

• ⬆ Up vs. 2024: Lac du Bonnet, Lake Manitoba – East Side, Lake Winnipeg – West Side, Winnipeg River

• ⬇ Down: Lake Winnipeg – East Side

• ⭐ Only Lake Winnipeg – West Side beat 5-year sales average

Listings

• ⬆ Up vs. 2024: Lac du Bonnet, Lake Manitoba – East Side, Lake Winnipeg – West Side

• ⬇ Down: Lake Winnipeg – East Side, Winnipeg River

• Above 5-year average in all but Winnipeg River

Average Prices

• ⬆ Higher in all areas except Winnipeg River (vs. 2024 & 5-year average)

Overall 
Strong price growth across most Lake Country areas. Lake Winnipeg – West Side leads for both sales and listings compared to long-term trends, showing sustained buyer demand.

Key Takeaways

• Sellers - Lower supply = stronger pricing power, especially for detached and attached homes in Winnipeg.

• Buyers - Be ready to move quickly, but explore condos or attached homes for more selection and affordability.

• Overall - Market remains competitive with steady-to-strong price growth.

Closing Thoughts

July’s numbers show that while market activity continues to shift with the season, Winnipeg and surrounding areas remain resilient. Buyers are finding more options, while sellers are still seeing strong interest in well-priced homes. As we head into late summer, staying informed on current trends will help you make confident real estate decisions, whether you’re buying, selling, or investing.

Tara Zacharias, REALTOR®