If you have been waiting for Winnipeg real estate prices to fall because “there are more listings now,” you may be waiting a while.,,,
July gave us a pretty interesting market.
Across all MLS® property types, there were 1,475 sales, which was 9% lower than July 2025. At the same time, there were 4,005 active listings, 9% MORE than last year.
More listings. Fewer sales.
That sounds like prices should be dropping.
But they aren’t..
The average residential detached sale price in July was $454,264, up 2% from last year and 6% above the five-year average. Condo prices also set a new July record at an average of $290,522 (although I feel this is being pulled up by new construction - especially townhouses.)
So what is happening?
Buyers have more options, but good properties are still good properties
More inventory does not automatically mean a buyer’s market.
It means buyers have more properties to compare.
That matters, because a house that might have gotten away with bad photos, questionable pricing and a basement full of stuff when inventory was extremely tight may not get away with it now.
But a well-priced, well-presented home in a good Winnipeg neighbourhood can still attract a LOT of attention.
We see this constantly.
One property sits.
Another one five streets over sells immediately.
Same general neighbourhood. Similar square footage.
Totally different result.
Winnipeg is not one market
The citywide average is useful for headlines.
It is almost useless for telling you exactly what YOUR house is worth.
A starter home in Transcona is competing with different buyers than a $700,000 house in Sage Creek.
A River Heights character home behaves differently than a newer Waverley West property.
A Garden City bungalow is not competing directly with a downtown condo.
This is why looking at “Winnipeg is up 2%” and adding 2% to last year’s value is not how valuation works.
What does this mean if you are buying?
You have more choice than you had a year ago.
Use it.
Compare the house to actual recent SOLD properties, not just whatever the seller decided to list it for.
You may still need to compete for the right house, but you do not need to panic-buy every house.
What does this mean if you are selling?
Preparation and pricing matter more as inventory grows.
Buyers now have more opportunities to say:
“Nice house… but there are three others I want to see first.”
Your job is to make sure yours survives that comparison.
The Winnipeg market is still holding up.
It is just becoming less forgiving.
And frankly, that is not a bad thing - it rewards those who do things properly!
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Dino Stepic Personal Real Estate Corporation
RE/MAX One Group
📱 Text / Call: 204.808.7646
🌐 www.thedinonetwork.ca
✉️ dino@thedinonetwork.ca
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Brook Landry | REALTOR®
RE/MAX One Group
📱 Text / Call: 204.817.7394
🌐 www.thedinonetwork.ca/brook.html
✉️ brook@thedinonetwork.ca
