Record Prices, Lower Condo Sales, and a Market Staying Resilient

The Winnipeg real estate market continued its momentum in October, with both residential detached and condominium average prices reaching new record highs. While some segments saw fewer sales compared to last year, the overall market remained firm, and total MLS® dollar volume climbed steadily. According to the Winnipeg Regional Real Estate Board, detached homes continue to be the primary driver of activity, even as condominium performance varies month-to-month.

All MLS® Snapshot: Prices Strengthen as Listings Tighten

October recorded 1,344 MLS® sales, a slight increase from October 2024 (+1%) and 6% above the five-year average. Active listings decreased to 3,519, reflecting a 3% decline from last year and continuing the 2025 trend of lower supply.

Detached homes made up 914 of those transactions, down 1% year-over-year, while condominium sales fell more sharply to 171 (–19% YoY).

Despite mixed sales activity, pricing continued upward: 

• Detached average price: $442,104 (+4%)

• Condominium average price: $297,428 (+12%)

• Total MLS® dollar volume: $540M (+7%)

Overall, buyers remain confident—and willing to engage at higher price points—even with reduced inventory in several segments.

Inside Winnipeg: Detached Homes Lead, Condo Sales Soften

Within Winnipeg city limits, detached homes continued to anchor activity:

• 617 detached sales (+2% YoY)

• 141 condo sales (–18% YoY)

• 88 attached home sales (+35% YoY)

Detached pricing held steady, with an average of $439,272, a 1% year-over-year increase. Inventory inside Winnipeg rose 15%, offering buyers more choice heading into the late fall market.

Neighbourhood performance was balanced across the city, with St. Vital, West Kildonan, and Polo Park tied for the highest number of detached sales. Waverley West, River Park South, Devonshire Park, and East Transcona also performed strongly.

Condo activity remained concentrated in Osborne Village, followed by Waverley West—reflecting ongoing interest in central, accessible, and newer multi-family developments.

Outside Winnipeg: Strong Pricing Amid Lower Sales Volume

Detached home sales outside the city totaled 297, down 6% year-over-year. However, average pricing rose sharply to $447,987, up 8% from October 2024.

Condominium trends mirrored this pattern:

• 30 rural condo sales (–27% YoY)

• Average price: $304,824 (+8%)

Rural inventory continues to tighten, with an 18% drop in active listings—the most significant supply contraction of the fall. Demand persists in regions like Morden/Winkler and Steinbach, where lifestyle-focused buyers continue to compete for available properties.

 Luxury activity remained a standout: 23 homes sold at or above $1 million this month, up from 16 last October. Homes at higher price points continue to see strong engagement from well-qualified buyers.

Market Insights: What Buyers and Sellers Should Know

October’s results point to a resilient, value-focused market with strong demand in detached segments and fluctuating activity in condos.

For sellers:

Record-high pricing and strong luxury demand highlight the importance of presentation. Lighting, staging, and visual storytelling can make a meaningful difference as we move into the darker months. If you haven’t seen it yet, our recent feature Luxury Lighting: How to Brighten Your Home for the Darker Months shares useful tips for maximizing your home’s visual appeal this season.

For buyers:

With inventory tightening outside Winnipeg and pricing trends rising, preparation remains key. Knowing which neighbourhoods align with your goals—and acting strategically—will help you stay competitive.

Read the Full Official Market Release

For expanded statistics, neighbourhood breakdowns, and five-year comparisons, you can explore the complete October report on the Winnipeg Regional Real Estate Board’s website.

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