Softening Sales, Record Pricing Trends, and a Market Resetting into Winter

Winnipeg’s real estate market eased in November as sales and dollar volume declined compared to last year, marking the first month in 2025 where detached average prices did not set a new monthly record. Even so, year-to-date performance remains strong, and both detached and condominium prices continue to sit above 2024 levels. According to the Winnipeg Regional Real Estate Board, the broader market is still on track for one of the strongest years on record, supported by steady demand across key segments.

All MLS® Snapshot: Softer Sales, Steady Value

November saw 935 total MLS® sales, down 10% from last year and 5% below the five-year average. Active listings also dipped, ending the month at 3,165, a 5% decline from November 2024.

Detached homes accounted for 630 sales (–7% YoY), while condominium sales fell to 129 (–15%). Despite the slowdown, pricing remained resilient:

• Detached average price: $420,121 (–3%)

• Condo average price: $272,718 (+6%)

• Total MLS® dollar volume: $349M (–12%)

While detached prices edged slightly below last year, year-to-date numbers tell a different story. Detached and condo prices both remain above 2024 levels, demonstrating the underlying strength of buyer demand throughout 2025.

Inside Winnipeg: Stronger Detached Activity, Condo Prices Rise

Activity within the city reflected a similar pattern:

• 439 detached sales (+1% YoY)

• 113 condo sales (–17% YoY)

• 52 attached home sales (–24% YoY)

Detached homes in Winnipeg averaged $429,201, down 2% from last year but still well above the five-year average. Condo pricing continued to climb, with Winnipeg condos averaging $272,956, a 9% increase.

Neighbourhood performance shifted this month, with East Kildonan leading detached sales, followed closely by St. Vital, River Park South, and River Grove. Osborne Village remained the hot spot for condo sales, with Linden Woods coming in second.

Outside Winnipeg: Lower Sales, but Prices Hold Firm

Detached home sales outside the city totaled 191, down 21% year-over-year. Active listings fell sharply to 674, a 19% decline from last November — one of the largest inventory drops of the year.

While sales slowed, pricing remained comparatively steady:

• Detached average price: $399,250 (–6% YoY)

• Condo average price: $271,044 (–11% YoY)

Townhouse (residential attached) activity outside Winnipeg saw 25 sales, a notable 47% increase from last year — a rare bright spot in a month where most segments softened.

 Luxury activity also moderated, with 12 homes selling at or above $1 million, compared to 14 in November 2024. The highest sale this month exceeded $2 million.

Market Insights: What Buyers and Sellers Should Expect Heading into Winter

November marks a shift from the record-setting pace seen throughout much of 2025. While sales volume softened, year-to-date performance continues to shine, with All MLS® sales and dollar volume ranking among the highest on record.

For sellers:

Pricing remains stable in many segments, and well-presented listings continue to attract strong interest. With shorter days and earlier sunsets, thoughtful lighting and staging play an even bigger role. If you missed our recent post, Luxury Lighting: How to Brighten Your Home for the Darker Months, it offers valuable tips for preparing your home during the winter season.

For buyers:

A quieter late-fall market can create opportunities. Inventory levels are tightening in several areas—especially outside Winnipeg—so being prepared, pre-approved, and clear on your neighbourhood priorities will give you an advantage.

Read the Full Official Market Release

For complete statistics, five-year comparisons, and regional breakdowns, explore the full November report on the Winnipeg Regional Real Estate Board’s website.

📲 Thinking about buying or selling this winter? Let’s connect and create a strategy tailored to your goals.