Winnipeg Housing Market: Spring 2025 Overview
Inventory remains tight as buyer demand continues to outpace supply in key neighbourhoods.
Winnipeg's real estate market entered spring 2025 with remarkable momentum. After a comparatively quiet winter, March and April saw a surge of buyer activity that caught many in the industry off guard. Inventory remains historically low, and the gap between supply and demand is widening in key residential neighbourhoods.
Inventory Tightens Across All Segments
Active listings across the Winnipeg Regional Real Estate Board (WRREB) area are down approximately 14% year-over-year as of April 2025. The shortage is most acute in the $400,000–$700,000 range, where first-time buyers and move-up purchasers compete for the same pool of properties.
Neighbourhoods like River Heights, Crescentwood, and Linden Woods are seeing multiple-offer situations on virtually every well-priced listing. Days on market for these areas has dropped to a median of just 11 days — the lowest we've recorded in this market cycle.
Prices Continue to Climb
The average residential sale price in Winnipeg reached $432,000 in Q1 2025, up 7.2% from the same period last year. Detached homes in south Winnipeg have seen the steepest appreciation, while condominium prices remain more stable, offering relative value for buyers willing to consider that segment.
- Average sale price: $432,000 (up 7.2% YOY)
- Median days on market: 18 days
- List-to-sale ratio: 101% — sellers regularly achieving over asking
- Active listings: down 14% year-over-year
What This Means for Buyers
If you're planning to buy in 2025, preparation is everything. Get pre-approved before you begin your search, and be ready to move quickly when the right property comes up. Work with an agent who has strong relationships in the neighbourhoods you're targeting — off-market and pocket listings are increasingly how desirable homes are being sold.
What This Means for Sellers
The spring market is as favourable for sellers as it's been in years. If you've been considering listing, now is an excellent time to act. Properly staged and priced homes are attracting multiple offers within days. Consult with one of our agents to understand exactly what your property is worth in today's conditions.
