The Winnipeg real estate market in 2025 has been busy. Prices have been climbing, and homes are selling faster. Buyers and sellers are paying close attention as we tip over the halfway point of 2025. The year started strong and has kept up momentum through summer, with July being a standout month. More homes were sold compared to last year. Prices hit record highs for both houses and condos. Even with fewer listings, the demand stayed strong. This means buyers are acting fast when they find the right home, and sellers are in a good spot if they price wisely.
Let’s break down what’s been happening so far this year and what it means for you.
Winnipeg Real Estate Market Overview Year-to-Date
From January to July 2025, Winnipeg’s housing market has been growing. Sales are up 7% compared to the same time last year. The total value of homes sold has jumped 13%, reaching over $3.7 billion. This shows not only are more homes selling, but they are selling for higher prices.
Detached homes, which make up most of the market, have done especially well. Year-to-date, the average price for a detached home is $457,667. That’s an 8% increase from last year. Condos are also moving, with prices holding steady at around $281,000.
July was impressive. There were 1,620 total MLS® sales in July, which is up 9% from 2024 and above the five-year average. Fewer listings have helped push prices higher. Active listings were down 12% from last year in July. With fewer choices, buyers are competing for the same properties. This is why homes are selling faster and for more money.
Neighbourhoods and Areas Seeing the Most Growth
Some parts of the Winnipeg region are seeing more action than others. Within the city, popular neighbourhoods with good schools, parks, and easy commutes are hot. Homes here tend to sell faster and get multiple offers.
Lake Country has been especially busy this year. This includes areas like Lac du Bonnet, Lake Winnipeg’s east and west sides, and the Winnipeg River. Many buyers are looking for second homes, cottages, or places to retire. The summer months bring the most activity in these markets.
For example, the west side of Lake Winnipeg is the only Lake Country area above its five-year average for sales in the first half of 2025. Prices have gone up in almost every Lake Country area compared to last year. This shows strong demand, even if the number of sales in some spots is lower than average.
The variation between areas proves how local the real estate market can be. One side of a lake might be booming while the other is slower. In the city, a neighbourhood near a new school or rapid transit line might suddenly see more buyers. These local shifts are why it’s important to work with a REALTOR® who knows the area well.
Advice for Buyers and Sellers
If you’re a buyer in Winnipeg right now, be ready to move fast. Homes are selling quickly. Get pre-approved for a mortgage so you can make an offer right away. Know your must-haves versus nice-to-haves. With fewer listings, you might not find a home that checks every box, but you can still find a great fit.
Consider exploring areas just outside your first choice. You might find better value a short drive away. Keep an open mind about homes that need small updates. With competition high, these can be easier to get and still turn into your dream home.
For sellers, this market is in your favour. Price your home right from the start. Overpricing can still lead to your home sitting on the market too long, even when demand is high. Make sure your home is clean, well-staged, and photographed professionally.
If you own property in Lake Country, late summer can be a great time to sell. Many buyers are still looking to close deals before fall. Highlight features like winterization or year-round access if you want to appeal to both seasonal and full-time buyers.
Contact us About Living in Winnipeg!
The Winnipeg real estate market in 2025 is active and growing. The areas seeing the most growth are benefiting from strong buyer demand.
If you’re ready to buy, make sure you’re prepared to act quickly. If you’re thinking about selling, now could be the time to get the best return on your property. The right guidance can help you work around the competition and make smart decisions.
A local REALTOR® can give you up-to-date information, help you understand neighbourhood trends, and guide you through negotiations. Contact me today to learn more about the current market conditions! And, don’t forget to visit my social media.
FAQ About the Winnipeg Real Estate Market
1. Is it a good time to buy a home in Winnipeg?
Yes, if you’re ready to act quickly. Prices are rising, but there are still opportunities, especially in up-and-coming areas.
2. Why are home prices in Winnipeg going up?
Fewer homes are for sale, but demand remains high. This competition pushes prices higher.
3. Which areas are growing the fastest?
Popular city neighbourhoods and Lake Country regions, especially the west side of Lake Winnipeg, are seeing strong demand.
4. How long are homes staying on the market?
Many sell within weeks, and some even in days if priced well and in good condition.
5. What should I do first if I want to buy?
Get pre-approved for a mortgage. This helps you act fast when you find the right home.