Real Estate Market Statistics around Winnipeg and Surrounding Areas for March 2026

The March 2026 real estate market in Winnipeg and surrounding areas shows a shift toward more balanced conditions.

While sales and listings have declined, prices remain strong — highlighting a market driven by limited supply and steady demand.

All MLS®

Across all property types in March,

• 1,135 sales, down 4% year-over-year
• 2,802 active listings, down 10%
• $472M+ in dollar volume, down just 1%

At first glance, fewer sales and listings may suggest a slowdown, but the bigger picture tells a different story.

This is what a stabilizing market looks like.

After several years of intense activity, we are now seeing,

• Buyers taking more time and making more deliberate decisions
• Fewer new listings coming to market, keeping supply tight
• Prices holding steady because demand still outweighs available inventory

The fact that dollar volume has barely changed, despite fewer transactions, shows that home values remain strong.

In other words, the market is shifting away from the fast-paced conditions of previous years and moving toward more balanced, sustainable activity — without any significant drop in pricing.

Record Prices Continue for Residential Detached Homes

Detached homes reached a key milestone in March,

• Average price: $474,567 (record high for March)
• Up 1% from 2025
• 722 sales, down 7%

Even with fewer sales, prices continue to rise due to low inventory. March also marked a rebound from earlier in the year, with one of the stronger March sales totals in recent years.

What this means

• Demand remains steady
• Supply is limited
• Well-priced homes are still selling

Winnipeg vs. Surrounding Areas

• Winnipeg continues to show steady price growth with moderate declines in sales
• Surrounding areas are experiencing more variation, with some regions seeing stronger slowdowns in activity

Demand is on the Rise for Residential Attached

The attached market continues to grow,

• Increasing sales and listings, especially in Winnipeg
• Prices trending upward

As affordability becomes a priority, more buyers are turning to attached homes as an alternative to detached properties. Growth is strongest in Winnipeg, while outside Winnipeg, activity is more subdued, with flatter sales and tighter inventory. This suggests that demand for attached homes is currently more concentrated within the city.

Price Growth with More Competition for Condominiums

The condo market shows,

• Average price: $292,696, up 6%
• Sales down 5%

In Winnipeg, the condo market remains active,

• Listings have increased, giving buyers more choice
• Prices continue to rise, indicating sustained demand

Outside Winnipeg, the market is more variable,

• Listings and sales are both lower
• Prices have softened slightly compared to last year

Condos continue to serve as a key entry point for first-time buyers, downsizers and investors. While competition among sellers in Winnipeg has increased due to higher inventory levels, giving buyers more options, prices continue to rise, showing steady demand. Outside the city, activity is softer and more variable.

Year-to-Date Trends: Supply Still Driving the Market

Looking at the first quarter of 2026,

• Total MLS® sales were 2,540, down 9%
• Listings were 4,555, also down 9%
• Dollar volume exceeded $1 billion, down 5%

Breaking this down further,

• Residential detached sales are down 11%, while prices are up 2%
• Condominium sales are down 14%, while prices are up 6%

The pattern is consistent across all property types: fewer transactions, but rising prices.

This confirms that limited inventory remains the primary driver of market conditions, supporting home values despite reduced activity.

All Markets Are Local: Regional Price Differences

Average home prices vary across the region,

• Southwest: $623,101
• Southeast: $535,798
• Northeast: $412,666
• Rural: $437,984
• North: $366,415
• West: $337,115

Higher-priced areas such as the Southwest and Southeast are typically driven by demand for newer homes, amenities and proximity to major routes. Mid-range areas offer a balance between affordability and accessibility, while lower-priced regions provide opportunities for first-time buyers and investors.

This reinforces a fundamental principle in real estate that there is no single Winnipeg market. Each area operates as its own micro-market, influenced by local demand, housing supply and lifestyle factors.

Around Our Market Region: Different Markets, Different Stories

Year-to-date data across the region shows a clear trend that prices and sales are moving in opposite directions.

Across all MLS® areas,

• Prices are up 2%
• Sales are down 11%

This tells us that limited supply is continuing to support prices, even as fewer homes are selling.

Winnipeg: Steady and Resilient

• Prices up 3%, sales down 6%

Winnipeg remains the most stable part of the market, with consistent demand and moderate changes.

Outside Winnipeg: More Variation

• Prices down 2%, sales down 19% overall

Areas like Lake Country and Niverville/Ritchot are seeing sharper declines in both prices and activity, showing softer demand.

Growth Areas Still Emerging

• Morden/Winkler and Morris are seeing strong gains in both prices and sales
• Steinbach is also holding strong with price growth

These areas continue to attract buyers looking for affordability and lifestyle options.

Higher-End Areas Slowing

• West St. Paul shows rising prices but fewer sales

This suggests that higher price points may be limiting buyer activity, even in desirable areas.

Final Thoughts

The Winnipeg real estate market in March 2026 is,

• Stable, not declining
• Supported by low inventory
• Seeing strong pricing across property types
• Becoming more balanced than previous years

For Buyers

You have more time to make decisions, but desirable homes remain competitive.

For Sellers

Pricing correctly is key. Strong values remain, but buyers are more selective.

The market is shifting, but fundamentals remain strong. Understanding local trends is key to making the right move in today’s Winnipeg and surrounding areas real estate market.

Tara Zacharias, REALTOR®