Record March Prices Highlight a Tight Market as Spring Activity Builds

March marked a turning point in Winnipeg’s real estate market as activity began to build heading into the spring season. According to the Winnipeg Regional Real Estate Board (WRREB), both residential detached and condominium average prices reached their highest March and first-quarter (Q1) levels on record, highlighting continued price strength despite slightly lower sales activity compared to last year. 

While MLS® sales were down year-over-year, the month still recorded the third-highest March sales total in the past five years, suggesting that demand remains strong even as inventory levels remain relatively limited. 

All MLS®: Prices Continue to Rise as Sales Trail 2025

Across all MLS® areas in the Winnipeg Regional Real Estate Board market region, March recorded the following activity:

• 722 residential detached homes sold

• 190 condominium sales

• 109 residential attached (townhouse) sales

The year-to-date average residential detached home price now sits at $458,771, representing a 2% increase compared to the same period last year. 

Although overall MLS® sales remain below 2025 levels, strong demand combined with limited inventory continues to place upward pressure on prices.

Inside Winnipeg: Continued Strength in the City Market

Within Winnipeg, the market remained active throughout March:

• 486 detached homes sold

• 164 condominium sales

• 86 residential attached sales

The year-to-date average detached home price in Winnipeg has reached $468,842, reflecting ongoing strength in the city’s housing market. 

During March, Waverley West recorded the highest number of residential detached home sales in Winnipeg, followed by East Transcona.

Outside Winnipeg: Strong Demand Across Surrounding Communities

Communities outside Winnipeg also saw continued activity throughout March:

• 236 detached homes sold

• 26 condominium sales

• 23 residential attached sales

The year-to-date average residential detached price outside Winnipeg is $437,984. 

The Steinbach area recorded the most residential detached home sales outside Winnipeg, followed by the Morden/Winkler area.

Key Market Highlights

Several key trends emerged from the March report:

• Residential detached and condominium prices reached record levels for March and the first quarter of the year. 

• MLS® sales remain slightly below 2025 levels, though March activity improved compared to the slower start earlier in the year. 

• Inventory remains relatively low, which continues to contribute to rising prices.

With warmer weather approaching, the Winnipeg Regional Real Estate Board expects more listings to enter the market as the spring season progresses.

Read the Full March Market Release

For a full breakdown of the statistics, including regional comparisons and five-year averages, you can view the complete report from the Winnipeg Regional Real Estate Board.