Prices hit record levels as spring market begins to build momentum

As we move deeper into the spring market, Winnipeg real estate is showing a familiar pattern: inventory remains tight while prices continue to push upward.

March saw fewer overall sales compared to last year, but average prices for both detached homes and condominiums reached record levels for March and for the first quarter of the year. In other words, demand remains strong while supply is still catching up.

Here’s a breakdown of what happened in March.

Overall MLS Market: Sales Slightly Down, Prices Continue to Climb

• 1,135 MLS sales (down 4% from March 2025)
• Active listings: 2,802 (down 10%)
• Total dollar volume: $472M+ (down 1%)

While activity is slightly lower than last year, prices are holding strong. The tighter inventory environment continues to support upward pressure on home values as we head further into the spring buying season.

The first quarter of 2026 reflects this same pattern.

Year-to-date (Jan–Mar 2026):

• 2,540 total MLS sales (down 9%)
• 4,555 total listings (down 9%)
• Total dollar volume: $1B+ (down 5%)

Even with fewer transactions, strong pricing continues to support overall market value.

Detached Homes: Record March Pricing

• 722 sales (down 7%)
• Average price: $474,567 (up 1%)
• Listings: 1,120 (down 15%)

Detached home prices reached their highest March level ever recorded, continuing the trend of rising values despite slightly lower transaction volume.

Inside Winnipeg, the average detached home price came in at $481,009, while homes outside the city averaged $461,299.

Top neighbourhoods by detached home sales:

• Waverley West
• East Transcona

Most active price range:
$300K–$399K (22%) followed closely by $400K–$499K (21%).

Luxury segment:
14 homes sold above $1M in March, with the highest sale approaching $2M.

Condominiums: Sales Dip, Prices Surge

• 190 sales (down 5%)
• Average price: $292,696 (up 6%)
• Listings: 391 (up 10%)

Condominium prices also reached record levels for March, continuing the trend of steady appreciation in Winnipeg’s more affordable housing segments.

Most active condo neighbourhoods:

• Osborne Village
• Downtown
• Richmond West
• Waverley West

Most popular price range:
$200K–$299K (31%) followed by $100K–$199K (27%).

Residential Attached: Sales Surge

• 109 sales (up 21%)
• Average price: $393,348 (up 5%)
• Listings: 253 (up 10%)

Attached homes were the standout performer in March, with a significant jump in sales and strong price growth.

Inside Winnipeg specifically:

• 86 sales (up 28%)
• Average price: $400,549 (up 3%)

This segment continues to attract buyers looking for a balance between affordability and space compared to detached homes.

Across the Region

Year-to-date detached home performance:

What This Means

Spring is beginning to build momentum in the Winnipeg market.

While the number of sales is slightly behind last year, record average prices and limited inventory continue to support strong values across the region. As temperatures warm up, more listings are expected to enter the market, which should create more opportunities for buyers heading into late spring and summer.

For sellers, tight inventory still creates favourable conditions. For buyers, preparation remains key as competition continues in many price ranges.

📩 Thinking about your next move?

If you're planning to buy, sell, or just want to understand where your home sits in today’s market, reach out anytime.

Whether you're buying, selling, or just curious what your home might be worth this year, send them my way.