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Oct 07, 2026

Winnipeg & Manitoba Real Estate Market Update—September 2026

Manitoba Detached Prices Just Posted Their Strongest Growth in Months. Here's Why Sales Still Fell.

Manitoba detached home prices climbed 5.19% year-over-year to $459,020 in September 2026 — even as total sales across the province fell nearly 10%. Here's what's actually driving the split.

Quick Snapshot — September 2026

September 2026 delivered one of the clearer splits we've seen in the Manitoba housing market in a while: Residential Detached prices posted their strongest year-over-year growth in months, even as total sales across the province slowed and condo prices actually pulled back.

  • 1,250 total MLS® sales across Manitoba in September, down 9.81% from a year ago
  • Average price across all property types: $411,421, up 4.61% year-over-year
  • Residential Detached prices hit $459,020, up 5.19% year-over-year and 10.14% above the five-year average — the strongest price growth we've flagged in months
  • Condominium prices eased back 3.21% to $287,877, giving buyers rare negotiating room in that one category

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Read the Full Video Transcript

All MLS Manitoba Snapshot

Let's start with the big picture. Across all property types in Manitoba, there were 1,250 residential sales in September, down 9.81% from the 1,386 we saw a year ago. The average price across all MLS® sales came in at $411,421, up 4.61% year-over-year. It sounds like fewer deals closed this September, but the ones that did close were priced noticeably higher than last year — that's not the pairing you'd normally expect. Active listings sit at 4,234, up 14.31% from last September. New listings were essentially flat, down just 0.75% at 2,239, so sellers aren't rushing to list in bigger numbers — inventory is building mostly because fewer homes are selling at the pace they were a year ago. Of that All MLS total, the three biggest slices this month are Residential Detached at just over 69% of all sales, Condominiums at about 12.4%, and Residential Attached homes — townhomes and semi-detached — at just over 8%.

Residential Detached — Manitoba-Wide

865 detached homes sold across all of Manitoba in September, down 7.29% from the 933 we saw a year ago — but essentially right on pace with the five-year average of 867 sales, just 0.21% off. The average price landed at $459,020, up 5.19% year-over-year and 10.14% above the five-year average of $416,777 — the strongest price growth of any month we've flagged recently. This is the category carrying the market's price strength right now — fewer transactions than last year, but noticeably more money changing hands on each one. Active listings climbed to 2,098, up 19.75% from a year ago, and new listings were up a modest 1.14% at 1,422 — in line with the five-year norm. More choice showing up on the shelf, even as pricing keeps climbing.

How Competitive Is the Market?

In September, just under a third of detached homes — 32.37% — sold above list price. About 9% sold right at list, and 58.61% sold below asking. Back in April, over half of detached sales — 52.64% — went above list. That number's cooled steadily since, down to 32.37% now — back close to where it sat last November. The competition hasn't disappeared, but it's clearly settled from its spring peak. Absorption rate measures how many months it would take to sell through the current active inventory at this month's pace of sales — fewer months signals a seller's market, more months signals a buyer's market. Right now that number sits at 3.39 months, up from 3.09 in August, and the sales-to-active ratio has eased to 29.52%. That's still inside seller's market territory by the board's own measure, just looser than it was a month ago. On price, the board's data shows $600,000 to $699,999 as the single largest $25,000 band this month, about 10.4% of all detached sales, while the combined $300,000 to $499,999 range covers roughly 43% of all detached activity on its own. On the active listings side, the $500,000 to $749,999 band is the largest by far, with 567 listings — but that band also spans a full $250,000, so some of that size is simply the range being wider.

Winnipeg vs. Outside Winnipeg

Inside the city limits, Winnipeg saw 568 detached sales this September, down 3% from 586 a year ago and essentially flat against the five-year average of 552. The average price came in at $462,689, up 3% from $449,567 last year and 7% above the five-year average. Active listings in the city jumped to 1,071, up 26% from 852 a year ago and 8% above the five-year average of 990. The city is seeing real growth in choice for buyers, while prices keep climbing steadily anyway — a combination worth paying attention to. The two busiest neighbourhoods for detached sales in Winnipeg this month were Waverley West, followed by Island Lakes. Outside the city, it's a stronger price story: 297 sales, down 14% from a year ago and 6% below the five-year average — the softer side of this month's sales pullback. But the average price there landed at $452,003, up 9% year-over-year and a full 15% above the five-year average. Steinbach was the busiest area outside Winnipeg this month, followed by Morden-Winkler — buyers outside the city are paying up even more aggressively than buyers in Winnipeg proper right now, a bit of a reversal from what we've seen in past months.

Around the Region & the Top of the Market

The board's year-to-date zone map tells a clear geographic story: Southwest Winnipeg leads at $620,379 average, with Southeast close behind at $530,066. The Rural Municipality zone sits at $444,999, Northeast at $415,645, North at $386,280, and West is the most affordable at $356,966. At the very top of the market, 25 detached homes sold for a million dollars or more this September, up from 15 a year ago — and the top sale came in north of $2.4 million, compared to just over $2.2 million last September.

Condominiums

Condos told a very different story this month. 155 units sold across Manitoba, down 22.50% from last year — the softest sales showing of any category we've covered so far, and 10.61% below the five-year average of 173. The average price actually pulled back too, to $287,877, down 3.21% year-over-year, though still 2.69% above the five-year average of $280,328. This is the one category where buyers genuinely have the upper hand right now — fewer sales, and the ones that are happening are going for less than a year ago. Active listings climbed to 502, up 14.61%, and new listings actually eased back 9.36% to 271. Inside Winnipeg, condo sales were 128, down 22% year-over-year, with the average price at $289,388, down 3%. Outside the city, condo activity is much thinner — 27 sales, down 25% — with an average price of $280,711, down 6%. The most active price range for condos was $200,000 to $299,999, with 49 sales, about 32% of all condo activity, with the $100,000 to $199,999 range close behind at 47 sales, or 30%.

Residential Attached

Residential Attached — townhomes and semi-detached homes — sits in between the other two categories this month. 101 sales, down 11.40% year-over-year, but still 18.54% above the five-year average of 85. The average price rose to $396,327, up 1.79% year-over-year and 10.02% above the five-year average of $360,245. This category is cooling off from last year's pace but still running hotter than its own normal. Active listings jumped to 344, up 31.80% — by far the sharpest inventory growth of any category this month — and new listings rose 5.13% to 205. Inside Winnipeg, attached sales were 83, down 5% year-over-year but 27% above the five-year average, with an average price of $397,408, up 4%.

Surrounding Areas

Stepping outside the city and into the surrounding areas — Oakbank, the RM of Springfield, East and West St. Paul, St. Andrews, Headingley, and Oakbluff, combined into one segment — ninety detached homes sold in September, a modest rebound from August's 81, but still down 10% from the 100 we saw a year ago, and well off the 130-to-150-plus sales a month this segment was running from May through July. The average price moved higher, up 3.06% to $606,920, compared with $588,901 last September. With sales at this size, this month's average price leans more on what actually closed than a broad statement about typical home values out here.

What This Means for Sellers

If you're selling a detached home, you might assume with sales down almost ten percent that pricing power has shifted away from you — the numbers say otherwise. Manitoba detached pricing is up 5.19% year-over-year and sitting 10.14% above the five-year average, the strongest price growth we've flagged in months. Well-priced homes are still finding buyers, and outside Winnipeg specifically, prices are up an even steeper 9%. The real shift is in how much competition you've got on the shelf, not in what buyers are willing to pay for the right home. If you're selling a condo, though, that's the one category where the data says to be realistic — prices and sales are both down this month, and buyers have genuine leverage there right now.

What This Means for Buyers

You might be telling yourself there's no rush because sales slowed down this month — and in some categories, that's fair. But detached prices climbing over five percent while sales dropped says the best homes still aren't going cheap. Active listings are up across every category — attached homes saw the sharpest jump, up nearly 32%. The list-to-sale ratio has eased too, down to 32.37% selling over list from April's peak near 53%, so there's more room to negotiate than there was in the spring. If affordability is the priority, condos are worth a close look — prices there actually pulled back 3.21% this month, the only category where that happened.

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September 2026 Winnipeg & Manitoba Real Estate Market Overview

If total sales being down almost 10% across Manitoba this September has you assuming prices must be softening too, the numbers tell a different story. Residential Detached pricing climbed 5.19% year-over-year to $459,020 — the strongest price growth we've flagged in months, and 10.14% above the five-year average. Meanwhile active listings are up across every category, giving buyers more to choose from than they've had in a while, and the list-to-sale ratio has eased to 32.37% selling over list, down from a spring peak near 53%. It's a market loosening on competition while staying firm on price — two different signals that both happen to be true at once. The one real exception is Condominiums, where prices actually pulled back 3.21% this month, the only category where buyers picked up genuine leverage on price as well as selection.

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📊 All MLS Manitoba Snapshot — September 2026

Across all property types in Manitoba, there were 1,250 residential sales in September, down 9.81% from the 1,386 we saw a year ago. The average sale price across all MLS® came in at $411,421, up 4.61% year-over-year. Active listings sit at 4,234, up 14.31% from last September, while new listings were essentially flat, down just 0.75% at 2,239 — so sellers aren't rushing to list in bigger numbers; inventory is building mostly because fewer homes are selling at last year's pace.

A quick note on what makes up that All MLS number: the three biggest slices this month are Residential Detached at just over 69% of all sales, Condominiums at about 12.4%, and Residential Attached homes — townhomes and semi-detached — at just over 8%. Everything else, from vacant land to commercial, fills in the rest.

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🏡 Residential Detached — Manitoba-Wide — September 2026

865 single-family detached homes sold across all of Manitoba in September, down 7.29% from the 933 we saw a year ago, but essentially right on pace with the five-year average of 867 sales — just 0.21% off. The average price landed at $459,020 — up 5.19% year-over-year, and 10.14% above the five-year average of $416,777, the strongest price growth of any month we've flagged recently. This is the category carrying the market's price strength right now: fewer transactions than last year, but noticeably more money changing hands on each one.

Active listings climbed to 2,098, up a sharp 19.75% from a year ago and 3.64% above the five-year average. New listings were up a modest 1.14% at 1,422, in line with the five-year norm of 1,379. More choice is showing up on the shelf, even as pricing keeps climbing — a gap worth watching, and one we'll come back to below.

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📈 How Competitive Is the Market? List-to-Sale Ratio, Absorption & Price Bands

In September, just under a third of detached homes — 32.37% — sold above list price. About 9% sold right at list, and 58.61% sold below asking. Back in April, over half of detached sales — 52.64% — went above list. That number has cooled steadily since, down to 32.37% now, back close to where it sat last November. The competition hasn't disappeared, but it's clearly settled from its spring peak.

Here's a term worth knowing: absorption rate. It measures how many months it would take to sell through all the current active inventory at this month's pace of sales — fewer months signals a seller's market, more months signals a buyer's market. Right now that number sits at 3.39 months, up from 3.09 in August, and the sales-to-active listings ratio has eased to 29.52%. Both still land inside seller's market territory by the board's own thresholds, just looser than they were a month ago.

On price, the board's data shows $600,000 to $699,999 as the single largest $25,000 band this month, about 10.4% of all detached sales. Zoom out a bit and the $300,000 to $499,999 range — combining the $300s and $400s — covers roughly 43% of all detached activity on its own, easily one of the top sales price ranges all month. On the active listings side, the $500,000 to $749,999 band is the largest by far, with 567 listings, but that band also spans a full $250,000, so some of that size is simply the range being wider, not just more homes bunching up there.

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🏙️ Winnipeg vs. Outside Winnipeg — Residential Detached

Inside the city limits, Winnipeg saw 568 detached sales this September, down 3% from 586 a year ago and essentially flat against the five-year average of 552. The average price came in at $462,689, up 3% from $449,567 last year and 7% above the five-year average. Active listings in the city jumped to 1,071, up 26% from 852 a year ago and 8% above the five-year average of 990. The city is seeing real growth in choice for buyers, while prices keep climbing steadily anyway — a combination worth paying attention to. The two busiest neighbourhoods for detached sales in Winnipeg this month were Waverley West, followed by Island Lakes.

Outside the city, it's a stronger price story: 297 sales, down 14% from a year ago and 6% below the five-year average — the softer side of this month's sales pullback. But the average price there landed at $452,003, up 9% year-over-year and a full 15% above the five-year average — buyers outside the city are paying up even more aggressively than buyers in Winnipeg proper right now, a bit of a reversal from what we've seen in past months. Steinbach was the busiest area outside Winnipeg this month, followed by Morden-Winkler.

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🗺️ Around the Region & the Top of the Market

The board's year-to-date zone map tells a clear geographic story: Southwest Winnipeg leads at $620,379 average, with Southeast close behind at $530,066. The Rural Municipality zone sits at $444,999, Northeast at $415,645, North at $386,280, and West is the most affordable at $356,966.

At the very top of the market, 25 detached homes sold for a million dollars or more this September, up from 15 a year ago — and the top sale came in north of $2.4 million, compared to just over $2.2 million last September. Worth keeping in mind as context next time the average price alone seems to tell the whole story.

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🏢 Condominiums — September 2026

Condos told a very different story this month. 155 units sold across Manitoba, down 22.50% from last year — the softest sales showing of any category we've covered so far, and 10.61% below the five-year average of 173. The average price actually pulled back too, to $287,877, down 3.21% year-over-year, though still 2.69% above the five-year average of $280,328. This is the one category where buyers genuinely have the upper hand right now — fewer sales, and the ones that are happening are going for less than a year ago.

Active listings climbed to 502, up 14.61%, and new listings actually eased back 9.36% to 271 — so even with fewer new condos coming onto the market, there's more sitting unsold than there was a year ago. Inside Winnipeg, condo sales were 128, down 22% year-over-year, with the average price at $289,388, down 3%. Outside the city, condo activity is much thinner, just 27 sales, down 25%, with an average price of $280,711, down 6%. River Heights led condo activity inside Winnipeg this month, followed by Osborne Village, Waverley West, and Downtown; outside the city, Morden-Winkler, Steinbach, Niverville-Ritchot, and Gimli were all tied for busiest. The most active price range for condos was $200,000 to $299,999, with 49 sales, about 32% of all condo activity, with the $100,000 to $199,999 range close behind at 47 sales, or 30%.

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🏘️ Residential Attached — September 2026

Residential Attached — townhomes and semi-detached homes — sits in between the other two categories this month. 101 sales, down 11.40% year-over-year, but still 18.54% above the five-year average of 85. The average price rose to $396,327, up 1.79% year-over-year and 10.02% above the five-year average of $360,245. This category is cooling off from last year's pace but still running hotter than its own normal — context matters here more than the single year-over-year number.

Active listings jumped to 344, up 31.80% — by far the sharpest inventory growth of any category this month — and new listings rose 5.13% to 205. Inside Winnipeg, attached sales were 83, down 5% year-over-year but 27% above the five-year average, with an average price of $397,408, up 4%. Outside the city, sales were softer at 18, down 33% — a small enough sample that it's worth taking as directional rather than definitive — with an average price of $391,340, down 4% year-over-year but still 12% above the five-year average.

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🌳 Surrounding Areas — September 2026

Stepping just outside the city, the surrounding areas — Oakbank, the RM of Springfield, East and West St. Paul, St. Andrews, Headingley, and Oakbluff — are tracked as one combined segment. Ninety detached homes sold here in September, a modest rebound from August's 81, but still down 10% from the 100 we saw a year ago, and well off the 130-to-150-plus sales a month this segment was running from May through July.

The average price moved higher, up 3.06% to $606,920, compared with $588,901 last September. With sales at this size, this month's average price leans more on what actually closed than a broad statement about typical home values out here right now — worth keeping in mind if you're weighing a purchase or a listing in one of these communities.

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📋 Market Snapshot — Manitoba & Winnipeg

CategorySalesAvg PriceYoY Price
All MLS® (Manitoba)1,250$411,421+4.61%
Residential Detached (Manitoba)865$459,020+5.19%
Residential Detached (Winnipeg)568$462,689+3%
Residential Detached (Outside Winnipeg)297$452,003+9%
Condominiums (Manitoba)155$287,877-3.21%
Residential Attached (Manitoba)101$396,327+1.79%
Surrounding Areas (combined)90$606,920+3.06%

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🧭 What This Means for Sellers

If you're selling a detached home, you might assume with sales down almost ten percent that pricing power has shifted away from you — the numbers say otherwise. Manitoba detached pricing is up 5.19% year-over-year and sitting 10.14% above the five-year average, the strongest price growth we've flagged in months. Well-priced homes are still finding buyers, and outside Winnipeg specifically, prices are up an even steeper 9%. The real shift is in how much competition you've got on the shelf, not in what buyers are willing to pay for the right home. If you're selling a condo, though, that's the one category where the data says to be realistic — prices and sales are both down this month, and buyers have genuine leverage there right now.

📋 If you want a fuller rundown of what actually moves a listing in a market like this one, our What Every Seller Should Know guide is a good starting point.

💰 Wondering how to price against bands like these? Our Pricing Guide walks through exactly that.

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🏠 What This Means for Buyers

You might be telling yourself there's no rush because sales slowed down this month — and in some categories, that's fair. But detached prices climbing over five percent while sales dropped says the best homes still aren't going cheap. Active listings are up across every category — attached homes saw the sharpest jump, up nearly 32%. The list-to-sale ratio has eased too, down to 32.37% selling over list from April's peak near 53%, so there's more room to negotiate than there was in the spring. If affordability is the priority, condos are worth a close look — prices there actually pulled back 3.21% this month, the only category where that happened.

🔑 Want to see new listings the moment they hit the market? Sign up for MLS Alerts.

🏢 Looking at condos specifically? Our Condo Buyer guide is built for exactly this kind of month.

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❓ September 2026 Winnipeg & Manitoba Market FAQ

Is now a good time to sell a detached home in Winnipeg or Manitoba?
For detached homes, yes — prices are up 5.19% year-over-year and sitting well above the five-year average, the strongest price growth we've flagged in months. Sales volume is down, which means more competition for attention, but well-priced homes are still finding buyers. Condos are a different story this month, with both sales and prices down — the honest answer still depends on your specific property and neighbourhood.

Why are detached prices up if total sales are down almost 10%?
Both can be true at once. Fewer total transactions closed this September than a year ago, but the ones that did close — particularly detached homes — sold for noticeably more. It's a case of lower volume, higher value per sale, not a contradiction.

Has the market flipped in buyers' favour?
Not across the board. Detached and Attached homes still land in seller's market territory by the board's own absorption-rate measure, even with more inventory on the shelf. Condominiums are the exception — prices and sales both pulled back this month, giving buyers real leverage there specifically.

What's happening with Residential Attached homes this month?
Attached homes — townhomes and semi-detached properties — saw the sharpest inventory growth of any category, active listings up nearly 32%. Sales cooled from last year's pace but are still running well above the five-year norm, and pricing remains comfortably ahead of its own historical average too.

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🔍 What We're Watching Next Month

  • Whether the list-to-sale ratio keeps easing from its spring peak or stabilizes here
  • Whether Condominium pricing keeps softening or finds a floor
  • Whether Surrounding Areas sales activity keeps rebuilding toward its spring/summer pace
  • Whether absorption rate keeps drifting up from 3.39 months or holds steady into the fall

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📍 Also Tracking the Interlake?

If you're also watching the Interlake region, a separate September 2026 Interlake Real Estate Market Update covers Selkirk, Gimli, and the surrounding communities in detail — including how that rural market is comparing to the city this month.

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✍️ About the Author

Justin Zinkowski is a Realtor® with Royal LePage Prime Real Estate, serving Winnipeg and the Interlake region city-wide and beyond.

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Data & Accuracy Notice: Statistics sourced from the Winnipeg Regional Real Estate Board (WRREB) and reflect MLS® activity through September 2026. Data was compiled prior to the publication of this post and is accurate as of the date of compilation. Real estate markets move quickly — for the most current information on your specific situation, reach out directly.

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Sep 10, 2026

Winnipeg Real Estate Market August 2026: What Changed

Why Manitoba Home Prices Keep Climbing While Fewer Homes Are Selling

August set new year-to-date price highs for detached homes and condos across Manitoba — even as monthly sales slowed and the shelf of homes for sale kept growing.

Quick Snapshot — August 2026

Manitoba's housing market posted a rare split in August 2026: year-to-date average prices for both residential detached homes and condominiums hit record highs, even as monthly sales slowed and the number of homes for sale kept climbing.

  • 1,326 total MLS® sales across Manitoba in August, down 5% from a year ago
  • Average price across all property types: $393,463, down 1.7% year-over-year but still 4.6% above the five-year average
  • Year-to-date average prices for both Residential Detached ($468,679) and Condominiums ($288,834) are the highest on record
  • Active listings up 13% province-wide — the most breathing room buyers have had in years

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All MLS Manitoba Snapshot

Across all property types in Manitoba, there were 1,326 residential sales in August, down 5.22% from a year ago and about 4.71% below the five-year average pace for this month. The average sale price across all MLS® came in at $393,463, down 1.73% year-over-year but still 4.55% above the five-year average. It seems like fewer people closed deals this August than usual, but the ones who did still paid a bit more than the five-year norm. Active listings sit at 4,102, up 13.19% from last August, and new listings were up 6.24% at 2,195 — more sellers testing the water, even as fewer buyers close. Of that All MLS total, the three biggest slices were Residential Detached at about 69% of all sales, Condominiums at just over 12%, and Residential Attached homes at roughly 8%.

Residential Detached — Manitoba-Wide

915 detached homes sold across all of Manitoba in August, down 5.57% from last year and about 6.90% below the five-year average for the month. The average price landed at $439,216, down 2.61% year-over-year, but still 4.70% above the five-year average of $419,493. It sounds like detached pricing pulled back a little from last year's pace while still sitting comfortably ahead of where it's typically been. Active listings climbed to 2,010, up a sharp 19.08% from a year ago, and new listings were up 9.15% at 1,432 — sellers are showing up in bigger numbers than buyers are closing right now.

How Competitive Is the Market?

In August, a third of detached homes — 33.33% — sold above list price, just over 8% sold right at list, and 58.25% sold below asking. It looks like the intensity we saw earlier this year has been easing off, month by month — back in April, over half of detached sales, 52.64%, went above list, and that number has come down steadily since. Absorption rate measures how many months it would take to sell through the current active inventory at this month's pace of sales — fewer months signals a seller's market, more months signals a buyer's market. Right now that number sits at 3.09 months, and the sales-to-active ratio is at 32.33% — both still inside seller's market territory. On price, the $600,000 to $699,999 band was the single largest $25,000 band this month, about 8.74% of all detached sales, while the combined $300,000 to $499,999 range covers close to half of all detached activity on its own.

Winnipeg vs. Outside Winnipeg

Inside the city limits, Winnipeg saw 565 detached sales this August, down 8% from 611 a year ago and 10% below the five-year average of 625. The average price came in at $453,247, down just 1% from $458,640 last year but still 5% above the five-year average. Active listings in the city jumped to 990, up 28% from 776 a year ago. It seems like the city itself is seeing the biggest swing in choice for buyers — prices barely moved, but the shelf is a lot fuller. The two busiest neighbourhoods for detached sales in Winnipeg this month were Waverley West, followed by St. Vital. Outside the city, it's a different shape entirely: 350 sales, down just 2% from a year ago, with the average price at $416,565, down 5% year-over-year but still 4% above the five-year average. Steinbach was the busiest area outside Winnipeg this month, followed by Morden-Winkler.

Around the Region & the Top of the Market

The board's year-to-date zone map tells a clear geographic story: Southwest Winnipeg leads at $625,962 average, with Southeast close behind at $529,149. The Rural Municipality zone sits at $443,908, Northeast at $418,087, North at $385,958, and West is the most affordable at $356,987. At the very top of the market, 16 detached homes sold for a million dollars or more this August, up from 13 a year ago, and the top sale came in at $2.3 million, compared to $1.7 million last August.

Condominiums

164 condo units sold across Manitoba, down 19.21% from last year — the softest sales showing of any category this month. The average price actually held up, at $283,715, up 1.82% year-over-year and 2.92% above the five-year average. It sounds like fewer condos are trading hands, but the ones that do sell are still holding their value just fine. Active listings climbed to 487, up 9.93%, and new listings rose 14.52% to 276. Inside Winnipeg, condo sales were 149, down 17% year-over-year, with the average price at $279,672, up 3%. Outside the city, condo activity is much thinner, just 15 sales, down 38% — that outside-city average of $323,880 should be read as directional, not definitive, given the low volume.

Residential Attached

Residential Attached — townhomes and semi-detached homes — is the one category that moved up across the board this month: 107 sales, up 10.31% year-over-year, and the average price rose too, to $389,744, up 2.24%. It seems like this is the one corner of the market that's actually gaining momentum right now, not just holding steady. Compared to the five-year average, this category is up 19.42% on sales and 8.28% on price, by a wide margin the strongest across-the-board growth of any category this month.

Surrounding Areas

Stepping outside the city into the surrounding areas — Oakbank, the RM of Springfield, East and West St. Paul, St. Andrews, Headingley, and Oakbluff, combined into one segment — 81 detached homes sold in August, down sharply from 125 a year ago, a drop of just over 35%. It seems like fewer buyers closed out here this August than we've seen most of this year, but the ones who did paid more for it. The average price moved the other direction, up 4.8% to $598,719, compared with $571,269 last August.

What This Means for Sellers and Buyers

If you're selling a detached home, it might feel like the ground is shifting under you with all this new inventory, but the pricing story says otherwise. Manitoba detached pricing still sits 4.70% above the five-year average even after this month's pullback — well-priced homes are still finding buyers. If there's one category carrying real momentum into the fall, it's Attached homes, up on both sales and price. If you're buying, you might be telling yourself there's no rush because there's more to choose from — and there is more choice. But the list-to-sale numbers say the best-priced homes still aren't sitting. Just 33.33% of detached homes sold over list this August, down from a spring peak near 53%, which means more room to negotiate than earlier this year.

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August 2026 Winnipeg & Manitoba Real Estate Market Overview

If you've noticed there are more homes for sale right now than there were a year ago, you might be assuming that finally tips things into buyers' favour here in Winnipeg. It's an understandable read — but the math underneath it tells a different story. Active listings across Manitoba are up nearly 19% from last August, and in the city, active detached listings are up 28%. On paper, that sounds like a market cooling off fast. It isn't, not yet — homes are still selling briskly enough, relative to what's on the shelf, that this still leans toward a seller's market by the board's own measure. More choice for buyers, yes. A full swing in leverage, not quite. And underneath it all, year-to-date average prices for both residential detached homes and condominiums just hit their highest levels on record.

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📊 All MLS Manitoba Snapshot — August 2026

Across all property types in Manitoba, there were 1,326 residential sales in August, down 5.22% from a year ago and about 4.71% below the five-year average pace for this month. The average sale price across all MLS® came in at $393,463, down 1.73% year-over-year, but still 4.55% above the five-year average. Active listings sit at 4,102, up 13.19% from last August, while new listings coming onto the market were up 6.24% at 2,195 — more sellers testing the water, even as fewer buyers close.

A quick note on what makes up that All MLS number: the three biggest slices are Residential Detached at about 69% of all sales, Condominiums at just over 12%, and Residential Attached homes — townhomes and semi-detached — at roughly 8%. Everything else, from vacant land to commercial, fills in the rest.

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🏡 Residential Detached — Manitoba-Wide — August 2026

915 single-family detached homes sold across all of Manitoba in August, down 5.57% from last year and about 6.90% below the five-year average for the month. The average price landed at $439,216 — down 2.61% year-over-year, but still 4.70% above the five-year average of $419,493. Detached pricing pulled back a little from last year's pace, while still sitting comfortably ahead of where it's typically been this time of year.

Active listings climbed to 2,010, up a sharp 19.08% from a year ago, and new listings were up 9.15% at 1,432. Sellers are showing up in bigger numbers than buyers are closing right now — a gap worth watching, and one we'll come back to below.

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📈 How Competitive Is the Market? List-to-Sale Ratio, Absorption & Price Bands

In August, a third of detached homes — 33.33% — sold above list price. Just over 8% sold right at list, and 58.25% sold below asking. Back in April, over half of detached sales — 52.64% — went above list. That number has come down steadily since, to 33.33% now in August. The competition hasn't disappeared, but it's clearly cooled from its spring peak.

Here's a term worth knowing: absorption rate. It measures how many months it would take to sell through all the current active inventory at this month's pace of sales — fewer months signals a seller's market, more months signals a buyer's market. Right now that number sits at 3.09 months, and the sales-to-active listings ratio is at 32.33%. Both of those still land inside seller's market territory, even with all the new inventory coming online.

On price, the data shows $600,000 to $699,999 as the single largest $25,000 band this month, about 8.74% of all detached sales. Zoom out a bit and the $300,000 to $499,999 range — combining the $300s and $400s — covers close to half of all detached activity on its own, one of the top sales price ranges all month. On the active listings side, the $500,000 to $749,999 band is the largest by far, but that band also spans a full $250,000, so some of that size is simply the range being wider, not just more homes bunching up there.

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🏙️ Winnipeg vs. Outside Winnipeg — Residential Detached

Inside the city limits, Winnipeg saw 565 detached sales this August, down 8% from 611 a year ago and 10% below the five-year average of 625. The average price came in at $453,247, down just 1% from $458,640 last year, but still 5% above the five-year average. Active listings in the city jumped to 990, up 28% from 776 a year ago and 7% above the five-year average of 924. The city itself is seeing the biggest swing in choice for buyers — prices barely moved, but the shelf is a lot fuller. The two busiest neighbourhoods for detached sales in Winnipeg this month were Waverley West, followed by St. Vital.

Outside the city, it's a different shape entirely: 350 sales, down just 2% from a year ago and 2% below the five-year average — a much steadier read. The average price there landed at $416,565, down 5% year-over-year but still 4% above the five-year average. Steinbach was the busiest area outside Winnipeg this month, followed by Morden-Winkler.

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🗺️ Around the Region & the Top of the Market

The year-to-date zone map tells a clear geographic story: Southwest Winnipeg leads at $625,962 average, with Southeast close behind at $529,149. The Rural Municipality zone sits at $443,908, Northeast at $418,087, North at $385,958, and West is the most affordable at $356,987.

At the very top of the market, 16 detached homes sold for a million dollars or more this August, up from 13 a year ago — and the top sale came in at $2.3 million, compared to $1.7 million last August. Worth keeping in mind as context next time the average price alone seems to tell the whole story.

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🏢 Condominiums — August 2026

Condos told a different story this month. 164 units sold across Manitoba, down 19.21% from last year — the softest sales showing of any category we've covered so far. The average price actually held up, at $283,715, up 1.82% year-over-year and 2.92% above the five-year average of $275,674. Fewer condos are trading hands, but the ones that do sell are still holding their value just fine.

Active listings climbed to 487, up 9.93%, and new listings rose 14.52% to 276 — more supply chasing fewer buyers this month. Inside Winnipeg, condo sales were 149, down 17% year-over-year, with the average price at $279,672, up 3%. Outside the city, condo activity is much thinner, just 15 sales, down 38%, which means that outside-city average of $323,880 should be read as directional, not definitive, given the low volume. Downtown and Osborne Village led condo activity inside Winnipeg; outside the city, Morden-Winkler and Steinbach tied for busiest, followed by Niverville-Ritchot, Gimli, and Selkirk.

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🏘️ Residential Attached — August 2026

Residential Attached — townhomes and semi-detached homes — is the one category that moved up across the board this month. 107 sales, up 10.31% year-over-year. The average price rose too, to $389,744, up 2.24%. This is the one corner of the market that's actually gaining momentum right now, not just holding steady — compared to the five-year average, this category is up 19.42% on sales and 8.28% on price, by a wide margin the strongest across-the-board growth of any category this month.

Inside Winnipeg, attached sales were 80, up 18% year-over-year and 22% above the five-year average, with an average price of $401,318. Outside the city, sales were softer at 27, down 7%, though still 13% above the five-year average, with an average price of $355,450.

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🌳 Surrounding Areas — August 2026

Stepping just outside the city, the surrounding areas — Oakbank, the RM of Springfield, East and West St. Paul, St. Andrews, Headingley, and Oakbluff — are tracked as one combined segment. 81 detached homes sold here in August, down sharply from 125 a year ago, a drop of just over 35%. That's also the lightest month for sales in this segment since February, well off the pace seen through the spring and summer, when it was regularly running 130 to 150-plus sales a month.

The average price moved the other direction, up 4.8% to $598,719, compared with $571,269 last August. With a swing that size in sales volume, this month's average price leans more on what actually closed than a broad statement about typical home values out here right now — worth keeping in mind if you're weighing a purchase or a listing in one of these communities.

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🧭 What This Means for Sellers

If you're selling a detached home, it might feel like the ground is shifting under you with all this new inventory — active listings climbed double digits across nearly every category this month. But the pricing story says otherwise. Manitoba detached pricing still sits 4.70% above the five-year average even after this month's pullback, and well-priced homes are still finding buyers. The real shift is on the shelf, not in what buyers are willing to pay, which means pricing and presentation matter more than they did a year ago. And if there's one category carrying real momentum into the fall, it's Residential Attached — up on both sales and price, the only category moving in that direction on every measure.

📋 If you want a fuller rundown of what actually moves a listing in a market like this one, our What Every Seller Should Know guide is a good starting point.

🏡 Selling for the first time in a while? Our Selling for the First Time in a Long Time guide walks through what's changed.

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🏠 What This Means for Buyers

You might be telling yourself there's no rush because there's more to choose from — and there is more choice. Active listings are up across the board, with condos and attached homes seeing the sharpest inventory growth. But the list-to-sale numbers say the best-priced homes still aren't sitting: just 33.33% of detached homes sold over list this August, down from a spring peak near 53%, which does mean more room to negotiate than earlier this year. If affordability is the priority, condo sales slowed the most of any category — down over 19% — which is worth a closer look.

🔑 Want to see new listings the moment they hit the market? Sign up for MLS Alerts.

🏠 Buying for the first time? Our First Time Buyer guide is built for exactly this market.

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❓ August 2026 Winnipeg & Manitoba Market FAQ

Is now a good time to sell in Winnipeg or Manitoba?
For most categories, yes — well-priced homes are still finding buyers, and Residential Attached in particular is seeing real momentum on both sales and price. Detached pricing has softened slightly from last year but remains well above the five-year average. The honest answer still depends on your specific property and neighbourhood, which is worth a direct conversation.

Why did detached home prices drop if year-to-date prices are at a record?
Both things are true at once. The year-to-date average, which smooths activity across the whole year, is the highest on record. This single month's average dipped slightly year-over-year — a normal month-to-month fluctuation, not a reversal of the broader trend.

Does more inventory mean it's a buyer's market now?
Not quite yet. Active listings are up sharply, giving buyers more choice than they've had in years, but the absorption rate and sales-to-active ratio still land inside seller's market territory by the board's own measure. It's a market that's loosening, not one that's flipped.

What's driving the surge in Residential Attached sales?
Attached homes — townhomes and semi-detached properties — are the only category up on both sales and price this month, and by a wide margin the strongest grower against the five-year average. It likely reflects buyers looking for a middle ground between detached and condo living as detached prices sit well above historical norms.

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🔍 What We're Watching Next Month

  • Whether the list-to-sale ratio keeps easing from its spring peak or stabilizes here
  • Whether Residential Attached holds its momentum into the fall market
  • Whether Surrounding Areas sales activity rebounds from August's pullback
  • How the gap between active listings growth and sales activity continues to shift the balance of power

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📍 Also Tracking the Interlake?

If you're also watching the Interlake region, a separate August 2026 Interlake Real Estate Market Update covers Selkirk, Gimli, and the surrounding communities in detail — including how that rural market is comparing to the city this month.

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✍️ About the Author

Justin Zinkowski is a Realtor® with Royal LePage Prime Real Estate, serving Winnipeg and the Interlake region city-wide and beyond. Justin pulls the numbers straight from the Winnipeg Regional Real Estate Board every month and breaks down what they actually mean for buyers and sellers, with a straightforward, data-first approach.

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Data & Accuracy Notice: Statistics sourced from the Winnipeg Regional Real Estate Board (WRREB) and reflect MLS® activity through August 2026. Data was compiled prior to the publication of this post and is accurate as of the date of compilation. Real estate markets move quickly — for the most current information on your specific situation, reach out directly.

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Aug 12, 2026

July 2026 Winnipeg & Manitoba Real Estate Market Update | Record Prices, Softer Sales

Manitoba Just Set Two Price Records. Here’s Why Sales Didn’t Follow.

Manitoba detached and condo prices both hit new July records — $454,264 and $290,522 — even as sales cooled across nearly every category. Here’s what’s actually driving the gap, and what it means depending on where you sit.

📍 Quick Snapshot — July 2026

In July 2026, Manitoba set new all-time July price records in both detached ($454,264) and condo ($290,522) homes, even as sales volume fell in nearly every category — a combination that points to a market shifting toward balance rather than one that’s overheating or cooling.

  • Manitoba detached and condo prices both hit new July records — $454,264 (detached, up 2.45% year-over-year) and $290,522 (condo, up 1.99%).

  • All MLS sales fell 8.78% year-over-year to 1,475 — but the average price held firm at $408,020, up 2.39%.

  • Condos saw the sharpest pullback of any category — sales down 21.43% — even as the average price still climbed to a new record.

  • Just over half of detached homes (53.89%) sold under list price — the over-list share dropped more than 7 points from June, from 44.83% to 37.67%.

  • Winnipeg city detached prices barely moved (-0.25%) even as the Manitoba-wide average climbed 2.45% — a real gap between the city and the province this month.

🔗 Jump to Section

Read the Full Video Transcript

All MLS Manitoba
Let’s start with the big picture. Across all property types in Manitoba, there were 1,475 sales in July — down 8.78% from the 1,617 sales we saw in July 2025, and about 1.21% below the five-year average for this month. The average price across all MLS sales came in at $408,020 — up 2.39% year-over-year, and 5.71% above the five-year average for July.

Now, “all MLS” bundles together every property type — but the vast majority of that number comes from three categories: Residential Detached made up 71.46% of all sales this month, Condominiums 12.68%, and Residential Attached homes 5.02%. So when I say “all MLS,” that’s mostly what’s baked in.

Active listings: 4,005, up 8.89% from July 2025. New listings — the homes that came onto the market this month — were down slightly, 1.54% below last July, at 2,234. It sounds like sales cooled off a bit this month while the shelf kept filling up — and that combination usually starts to shift the leverage in the room, even if it doesn’t show up in the price yet.

That shift shows up in something called the absorption rate — how many months it would take to sell through the current active inventory at this month’s pace of sales. Fewer months signals a seller’s market, more months signals a buyer’s market. This July, that works out to about 2.72 months — 4,005 active listings divided by 1,475 sales. Still seller’s market territory, but it’s moved up from earlier this summer, which tells you the pace has eased a little.

Detached Homes Across Manitoba
Single family detached is the biggest category, and it’s usually the best read on where the market’s really headed. Province-wide across Manitoba, there were 1,054 detached home sales in July — down 6.56% from the 1,128 sales we saw in July 2025, and just 0.64% below the five-year average. Essentially right on pace.

The average detached price this July: $454,264. That’s up 2.45% from a year ago, and 6.33% above the five-year average for this month — the highest July average this market has ever recorded, according to the board’s own numbers.

Active inventory sits at 1,898 homes, up 11.84% year-over-year, though still 4.21% below the five-year average — so more choice than last July, but not an oversupplied market by historical standards. New listings were down 3.67% from a year ago, at 1,419. It sounds like this is a market finding its footing rather than tipping hard one way — prices are still climbing, but the pace of new supply and the pace of sales are both a step slower than last year.

Year-to-date through July, detached sales sit at 5,967 — down 7% from the same period last year, and 2% below the five-year average. The year-to-date average price is $473,124, up 3% from last year and 8% above the five-year average. So fewer transactions overall this year, but the ones happening are at meaningfully higher prices.

Price Bands & List Price Outcomes
Let’s look at how homes are actually selling relative to asking price, because that tells you where the real negotiating power sits. In July, 37.67% of detached homes in Manitoba sold over their list price. 8.44% sold exactly at list. And 53.89% sold under list. It seems like the days of almost every home going over asking are cooling off a bit — in June, 44.83% of homes sold over list. That’s dropped more than seven points in a single month.

Looking at where the sales actually happened by price: the $400,000 to $499,999 range was the most active in July, with 257 sales — 24% of all detached sales. The $300,000 to $399,999 range was second, with 228 sales, or 22%. Put those two ranges together with everything in between — roughly $250,000 to $499,999 — and that band alone accounts for about 53.5% of all detached sales this month. That’s where most of this market actually lives.

On the inventory side, the $500,000 to $749,999 range has the most active listings right now, at 509 — though it’s worth noting that’s a wider $250,000 band than most of the others, so some of that size is just math, not necessarily softness at that price point specifically.

Winnipeg Detached
Now, if we zoom into the City of Winnipeg specifically — separate from the province-wide numbers — the story shifts a bit. Active listings in the city: 855, up 11.18% year-over-year, though still 7.27% below the five-year average. Sales: 665, down 7.64% from last July, and 2.35% below the five-year average. Average price: $460,114 — essentially flat, down just 0.25% from a year ago, but still 4.48% above the five-year average.

The top neighbourhoods for detached sales in Winnipeg this July were Waverley West, followed by West Kildonan. It sounds like the city itself is behaving a little differently than the province as a whole this month — Manitoba-wide prices are still climbing at a healthy clip, but inside Winnipeg specifically, prices barely moved. That’s worth knowing if you’re comparing your own neighbourhood to the province-wide headline. Outside Winnipeg, the Steinbach area saw the most detached sales in July, followed by Morden/Winkler.

On the high end, there were 21 detached homes sold at $1 million or more in July, with the top sale over $2 million. That’s actually one more luxury sale than July of last year, even though the very top sale price was a bit lower than last year’s $2.5-million-plus peak.

Condominiums
Condos told a different story this month. 187 condo sales across Manitoba in July — down 21.43% from July 2025, and 11.63% below the five-year average. That’s the softest category this month by a wide margin. Despite the drop in sales, the average condo price actually climbed to $290,522 — up 1.99% year-over-year and 4.80% above the five-year average, a new July record. Active listings were nearly flat, up just 1.28%, at 474. It seems like fewer condo buyers were active in July, but the ones who did buy weren’t finding much room to negotiate on price — that’s not the pattern you’d expect from a slower month, and it’s worth watching.

Residential Attached
Residential attached — your townhomes and semi-detached properties — moved in the opposite direction on supply. Active listings jumped 19.76% year-over-year to 303, and they’re now running 12.22% above the five-year average. Sales were down 8.77% from last July, at 104. But the average price rose 6.68%, to $399,506 — 12.37% above the five-year average, and the largest year-over-year price increase of any category we’ve covered today. It sounds like buyers are showing up for attached homes and paying up for the right ones, even with more inventory to choose from — that’s a category worth watching if you’re on the fence.

Surrounding Areas
Zooming out to the communities just outside Winnipeg proper — Oakbank, RM of Springfield, East St. Paul, West St. Paul, St. Andrews, Headingley, and Oakbluff, combined — the average sale price over the trailing 12 months sits at $585,824, up from $560,181 a year ago. That’s a 4.58% increase. Sales activity in these communities is also up — 137 sales compared to 124 a year ago, a 10.48% increase. It seems like buyers who want more space or a bit more distance from the city are still showing up in numbers — and paying more to get it.

What the Data Shows
So here’s what I’d pull out of July, depending on where you sit. If you’re selling: Manitoba detached and condo prices both just set new July records — $454,264 and $290,522. If you’re pricing at what the market’s actually paying, you’re still in a strong position. But listings are up 11.84% province-wide, and attached homes posted the biggest price jump of any category at 6.68% — so how you present and price matters more than it did a year ago. This isn’t a market where every listing sells itself anymore.

If you’re buying: you genuinely have more to choose from than a year ago — active listings climbed across every category, attached homes up 19.76% year-over-year. Sales activity cooled almost everywhere, which usually means a little more room to negotiate. Condos in particular saw the sharpest pullback in sales, down 21.43%, which is worth a look if affordability is what you’re solving for.

And the big picture: this is a market finding a bit more balance. Prices up, sales down, inventory rising — that’s the classic signature of a shift, not a crash and not a boom. One more thing worth knowing: Winnipeg’s own detached numbers moved differently than Manitoba’s as a whole this month — city prices were down just 0.25%, essentially flat, while the province climbed 2.45%. If you’re comparing your own street to the province-wide headline, that gap matters.

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July 2026 Winnipeg & Manitoba Housing Market Overview

July 2026 gave Manitoba a genuinely unusual combination: brand-new July price records in two categories — detached and condo — while sales volume softened almost everywhere. Records and softer sales don’t normally show up in the same month. When they do, it’s worth slowing down and looking at what’s actually driving each side.

The absorption rate of 2.72 months keeps Manitoba in seller’s market territory. However, that number has moved up from earlier this summer, and the share of detached homes selling over list price dropped more than 7 points in a single month — from 44.83% in June to 37.67% in July. The direction of travel is toward balance, even if we’re not there yet.

This update covers the full Manitoba picture, narrows into Winnipeg specifically, then covers condos, attached homes, and surrounding communities. If you’re also tracking the Interlake region, a separate July 2026 Interlake Real Estate Market Update covers Selkirk, Gimli, and surrounding communities in detail.

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📊 All MLS Manitoba — July 2026 Overview

  • Total sales: 1,475 (-8.78% from July 2025)
  • Average sale price: $408,020 (+2.39% vs July 2025)
  • Active listings: 4,005 (+8.89% vs July 2025)
  • New listings: 2,234 (-1.54% vs July 2025)
  • Absorption rate: 2.72 months (sellers market, easing) — the number of months it would take to sell through current active inventory at this month’s pace of sales; fewer months signals a seller’s market, more months signals a buyer’s market

Across all property types in Manitoba, July saw 1,475 residential sales — down 8.78% from the 1,617 sales recorded in July 2025, and about 1.21% below the five-year average for this month. The average sale price came in at $408,020, up 2.39% year-over-year and 5.71% above the five-year average.

“All MLS” bundles together every property type — but the vast majority of that number comes from three categories: Residential Detached made up 71.46% of all sales this month, Condominiums 12.68%, and Residential Attached homes 5.02%. So when this update says “all MLS,” that’s mostly what’s baked in.

Active listings sit at 4,005, up 8.89% from July 2025. New listings — the homes that came onto the market this month — were down slightly, 1.54% below last July, at 2,234. Sales cooled off a bit this month while the shelf kept filling up, and that combination usually starts to shift the leverage in the room, even before it shows up in the price.

What this means: At 2.72 months of absorption, Manitoba is still solidly in seller’s market territory — but the pace has eased from earlier this summer, and that’s the number worth watching heading into fall.

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🏡 Detached Homes Across Manitoba — July 2026

  • Sales: 1,054 (-6.56% from July 2025)
  • Average sale price: $454,264 — a new July record (+2.45% vs July 2025)
  • Active listings: 1,898 (+11.84% vs July 2025)
  • New listings: 1,419 (-3.67% vs July 2025)
  • YTD sales: 5,967 (-7%) | YTD average: $473,124 (+3%)

Single family detached is the largest category and the one that tells you the most about where the market is heading. Province-wide across Manitoba, there were 1,054 detached sales in July — down 6.56% from 1,128 a year ago, and just 0.64% below the five-year average. Essentially right on pace.

The average detached price this July, $454,264, is up 2.45% from a year ago and 6.33% above the five-year average — the highest July average this market has ever recorded, according to the board’s own numbers.

Active inventory sits at 1,898 homes, up 11.84% year-over-year, though still 4.21% below the five-year average — more choice than last July, but not an oversupplied market by historical standards. New listings were down 3.67% from a year ago, at 1,419. Year-to-date through July, detached sales sit at 5,967, down 7% from the same period last year and 2% below the five-year average. The year-to-date average price is $473,124, up 3% from last year and 8% above the five-year average — fewer transactions overall this year, but the ones happening are at meaningfully higher prices.

What this means: A home priced correctly and presented well is still setting records in July. However, rising supply means an overpriced home has more competition to stand out against than it did a year ago. For more on how buyers actually evaluate your asking price, see How Winnipeg Buyers Actually Use Your List Price.

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📊 Where Is Inventory Sitting? Price Bands & Active Listings

The price band breakdown shows where most buyer and seller activity is actually concentrated.

Most active sales by price range (July 2026):

  • $400,000–$499,999: 257 sales (24% of all detached sales)
  • $300,000–$399,999: 228 sales (22% of all detached sales)

Combined, that roughly $250,000 to $499,999 window accounts for about 53.5% of all Manitoba detached home sales in July. That’s where most of the competition, most of the buyer activity, and most of the decision-making is happening.

On the active inventory side, the $500,000–$749,999 bracket holds the most active listings, at 509. That band spans a $250,000 range — a wider band than most of the others — so some of that size is just math, not necessarily softness at that price point specifically.

What this shows: If you’re buying or selling between $250,000 and $499,999, you’re in the most active part of the market — more competition for buyers, more exposure for sellers, and more comparable data to work from.

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🏷️ Sale Outcomes: Over, At, and Under List Price

  • 37.67% of detached homes sold over asking price
  • 8.44% sold at asking price
  • 53.89% sold below asking price

For context, in June 2026 it was 44.83% over asking. The share of homes selling above list has dropped more than 7 points in a single month — meaning buyers found meaningfully more room to negotiate in July than they had just one month earlier.

That said, more than a third of detached homes are still going above asking. Competition hasn’t disappeared — it’s shifted. The homes that are well-priced and well-presented are still attracting strong interest. The ones that aren’t are increasingly negotiating from a position that favours the buyer.

What this means: Both negotiation and competition are happening simultaneously — which home and which price point determines the experience. If you’re in the $400,000–$499,999 range and priced right, expect competition. Above that, buyers have more room to breathe. For sellers wondering how the first days on market shape everything that follows, see The First 7–21 Days.

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🌆 Winnipeg Detached — July 2026

  • Sales: 665 (-7.64% vs July 2025)
  • Average sale price: $460,114 (essentially flat, -0.25% vs July 2025)
  • vs. 5-year average: current prices are up 4.48%
  • Active listings: 855 (+11.18% vs July 2025)
  • vs. 5-year July average: still running 7.27% below historical norm

Inside Winnipeg, the story shifts from the province-wide numbers. Active listings sit at 855, up 11.18% year-over-year, though still 7.27% below the five-year average. Sales came in at 665, down 7.64% from last July and 2.35% below the five-year average. Average price: $460,114 — essentially flat, down just 0.25% from a year ago, but still 4.48% above the five-year average.

The top neighbourhoods for detached sales in Winnipeg this July were Waverley West, followed by West Kildonan. Outside Winnipeg, the Steinbach area saw the most detached sales in July, followed by Morden/Winkler.

On the high end, there were 21 detached homes sold at $1 million or more in July, with the top sale over $2 million — one more luxury sale than July of last year, even though the very top sale price was a bit lower than last year’s $2.5-million-plus peak.

What this means: The city itself is behaving a little differently than the province as a whole this month — Manitoba-wide prices are still climbing at a healthy clip, but inside Winnipeg specifically, prices barely moved. That’s worth knowing if you’re comparing your own neighbourhood to the province-wide headline.

👉 Free Guide: Buying and Selling at the Same Time
If you’re thinking about selling your Winnipeg home and buying another, this guide walks through the three moving parts and how to sequence them without getting caught in between.

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🏢 Condominiums — July 2026

  • Sales: 187 (-21.43% vs July 2025)
  • Average sale price: $290,522 — a new July record (+1.99% vs July 2025)
  • Active listings: 474 (+1.28% vs July 2025, essentially flat)
  • vs. 5-year average: sales are 11.63% below, price is 4.80% above

Condos told a different story this month — the softest category by a wide margin. 187 condo sales across Manitoba in July is down 21.43% from July 2025, and 11.63% below the five-year average.

Despite the drop in sales, the average condo price actually climbed to $290,522, a new July record, up 1.99% year-over-year and 4.80% above the five-year average. Active listings were nearly flat, up just 1.28%, at 474.

What this means: Fewer condo buyers were active in July, but the ones who did buy weren’t finding much room to negotiate on price — that’s not the pattern you’d expect from a slower month, and it’s worth watching heading into fall.

👉 Free Guide: First-Time Home Buyer Guide
If you’re entering the market for the first time, this guide covers what to expect from pre-approval through possession — including how to evaluate condos versus attached homes at your price point.

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🏘️ Residential Attached — Townhomes & Semi-Detached

  • Sales: 104 (-8.77% vs July 2025)
  • Average sale price: $399,506 (+6.68% vs July 2025 — the biggest price gain of any category)
  • Active listings: 303 (+19.76% vs July 2025)
  • vs. 5-year average: listings are 12.22% above, price is 12.37% above

Residential attached moved in the opposite direction on supply from condos. Active listings jumped 19.76% year-over-year to 303, now running 12.22% above the five-year average. Sales were down 8.77% from last July, at 104. But the average price rose 6.68%, to $399,506 — 12.37% above the five-year average, and the largest year-over-year price increase of any category this month.

What this means: Demand for attached homes is concentrated and competitive, even as more inventory enters the segment. Buyers priced out of detached homes are finding their way here, and that demand is holding prices up even as selection improves.

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🚗 Surrounding Winnipeg Areas — July 2026

  • Sales (trailing 12 months): 137 (+10.48% vs prior 12 months)
  • Average sale price (trailing 12 months): $585,824 (+4.58% vs prior 12 months)

Outside Winnipeg city limits — Oakbank, RM of Springfield, East St. Paul, West St. Paul, St. Andrews, Headingley, and Oakbluff — the average sale price over the trailing 12 months sits at $585,824, up from $560,181 a year ago, a 4.58% increase. Sales activity in these communities is also up, 137 compared to 124 a year ago, a 10.48% increase.

At $585,824, the surrounding areas average sits well above both the Manitoba-wide detached average ($454,264) and the Winnipeg city average ($460,114) — a premium of over $125,000 above the city, holding firm even as buyers pay more to get it.

What this means: Buyers who want more space or a bit more distance from the city are still showing up in numbers — and paying more to get it. For Selkirk, Gimli, Stonewall, and surrounding Interlake communities, the full breakdown is in the July 2026 Interlake Real Estate Market Update.

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📊 Full Market Snapshot — July 2026

  • All MLS® Manitoba: 1,475 sales | $408,020 avg price (+2.39%)
  • Detached (Manitoba): 1,054 sales | $454,264 avg price (+2.45%, new July record)
  • Detached (Winnipeg): 665 sales | $460,114 avg price (-0.25%, essentially flat)
  • Condominiums: 187 sales | $290,522 avg price (+1.99%, new July record)
  • Residential Attached: 104 sales | $399,506 avg price (+6.68%)
  • Surrounding Areas (trailing 12 months): 137 sales | $585,824 avg price (+4.58%)

Two records, softer sales in almost every category, and a real gap between how the city and the province each moved this month. The market isn’t retreating — it’s recalibrating.

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🔑 What This Means for Buyers

You genuinely have more to choose from than a year ago — active listings climbed across every category, with attached homes up 19.76% year-over-year and detached up 11.84%. Sales activity cooled almost everywhere, which usually means a little more room to negotiate.

Detached competition is still real — 37.67% of homes sold over asking price in July. However, that’s down from 44.83% just one month earlier, and 53.89% of homes sold under list. If you’ve been waiting for the market to hand you a clearer buying signal — more inventory, softer sales, less competition on offers — July is arguably that signal for several categories.

Condos in particular saw the sharpest pullback in sales, down 21.43%, which is worth a look if affordability is what you’re solving for — though the price itself hasn’t softened to match, so don’t expect a discount just because sales slowed.

And the city-versus-province gap matters here too: Winnipeg detached prices were essentially flat (-0.25%) this month even as the provincial average climbed 2.45%. If you’re shopping inside the city specifically, the headline provincial number may be overstating what you’ll actually see on your own street.

It seems like the buyers doing well right now are the ones who came prepared — pre-approved, clear on their criteria, and ready to act on the right home rather than waiting for a market-wide signal that may not arrive evenly across every category.

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🧭 What This Means for Sellers

The fundamentals are still in your favour. Manitoba detached and condo prices both just set new July records — $454,264 and $290,522. If you’re pricing at what the market’s actually paying, you’re still in a strong position.

However, listings are up 11.84% province-wide for detached homes, and attached homes posted the biggest price jump of any category at 6.68% — so how you present and price matters more than it did a year ago. This isn’t a market where every listing sells itself anymore. The over-list share dropped more than 7 points in a single month, from 44.83% in June to 37.67% in July, which tells you buyers have more to compare you against than they did just weeks ago.

If you’ve been putting off listing because you’re worried the market’s cooled too much to get a good price, that’s not really what July’s numbers show. What’s changed is that buyers have more to compare you against — not that they’re paying less.

If you’re selling in Winnipeg specifically, know that city prices moved differently than the province this month — essentially flat at -0.25%, versus the province’s 2.45% climb. Pricing off the provincial headline instead of your own neighbourhood’s actual comparables is a real risk right now.

It sounds like sellers doing well right now are treating price and presentation as a deliberate strategy — not assuming a record-setting month means every listing sells itself.

👉 Free Guide: Downsizing in Winnipeg & Manitoba
If you’re thinking about rightsizing your home in the months ahead, this guide covers how to evaluate your timing, what to expect from the process, and how to sequence your move with confidence.

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❓ July 2026 Manitoba Real Estate FAQ

Why did Manitoba home prices hit a record while sales dropped in July 2026?
Manitoba detached and condo prices both set new July records — $454,264 and $290,522 — even as sales fell 8.78% across all property types. That combination usually means the buyers who are active are paying full value for well-priced homes, while overall buyer traffic has thinned out. It’s not a contradiction — it’s a market where fewer transactions are happening, but the ones that close are at genuinely higher prices.

Is Winnipeg still a seller’s market in July 2026?
Yes, but a more moderate one than earlier this summer. Manitoba’s absorption rate of 2.72 months keeps the province in seller’s market territory, and 37.67% of detached homes still sold over asking. However, that’s down from 44.83% in June — more than a 7-point drop in one month — so the pace has clearly eased even though sellers still hold the advantage overall.

Why did Winnipeg city detached prices barely move while the Manitoba average kept climbing?
Winnipeg city detached prices were essentially flat in July, down just 0.25% year-over-year, while the Manitoba-wide detached average climbed 2.45%. That gap usually means the province-wide price growth is being driven more by activity outside the city — surrounding communities and other regions — than by the city itself. If you’re comparing your own Winnipeg street to the provincial headline, that number can be misleading.

Which category had the softest market in July 2026?
Condominiums, by a wide margin. Sales fell 21.43% year-over-year — the steepest decline of any category — even though the average price still climbed to a new July record of $290,522. That combination of falling sales and rising price is unusual and worth watching into the fall.

Which category had the strongest price growth in July 2026?
Residential attached homes, up 6.68% year-over-year to an average of $399,506 — the largest price increase of any category this month, even as active listings in that segment jumped nearly 20%.

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🔍 What We’re Watching in August 2026

  • Whether the over-list share keeps dropping — a 7-point single-month move from 44.83% to 37.67% is significant; August will show whether that’s the start of a trend or a one-month variance
  • The Winnipeg-versus-Manitoba price gap — city prices were essentially flat this month while the province climbed 2.45%; watching whether that gap narrows or widens into fall
  • Condo sales — down 21.43% in July, the softest reading of any category; watching whether that’s a genuine slowdown or a one-month dip against a strong 2025 comparison
  • Attached home inventory — up 19.76% in July; watching whether buyers absorb that new supply or whether the segment’s strong price growth starts to soften
  • Absorption rate — at 2.72 months and rising from earlier this summer; another month of upward movement would be a clearer signal the market is genuinely shifting toward balance

None of these are predictions — they’re the places in the data where small changes tend to have the most visible impact on how the market feels for buyers and sellers over the next 30 to 60 days.

Justin Zinkowski
 Realtor® | Royal LePage Prime Real Estate

Serving Winnipeg, the Interlake, and surrounding Manitoba communities, Justin specializes in helping homeowners understand local market conditions clearly before making a move.

Data & Accuracy Notice: Statistics sourced from the Winnipeg Regional Real Estate Board (WRREB) and reflect MLS activity through July 2026. Data was compiled prior to the publication of this post and is accurate as of the date of compilation. Real estate markets move quickly — for the most current information on your specific situation, reach out directly.

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Jul 16, 2026

While Canada's Housing Market Cools, Winnipeg Keeps Climbing

While Canada’s Biggest Markets Cool, Winnipeg Keeps Climbing

Royal LePage’s newest national report shows detached home prices falling in Toronto and Vancouver — while Winnipeg posted one of the strongest detached-home gains in the country.

If you’ve been watching the national headlines and assumed every Canadian market is cooling off the same way, the numbers coming out of Winnipeg tell a different story.

Quick Snapshot:

  • National single family detached price: $862,400, down 0.9% year-over-year
  • Winnipeg single family detached price: $470,400, up 2.6% year-over-year
  • GTA detached: down 3.6% YoY  |  Greater Vancouver detached: down 5.2% YoY
  • Royal LePage’s Q4 2026 forecast (aggregate) has Winnipeg growing another 5.0% — tied for the second-fastest projected growth of any major market in the country

The National Picture | Winnipeg’s Story | What the Forecast Says | For Buyers | For Sellers | FAQ

The National Picture: A Market Still Finding Its Footing

Every quarter, Royal LePage releases its National House Price Survey — a snapshot of home prices across more than 60 Canadian markets. The Q2 2026 numbers, released this week, tell a story most of the country already feels in the headlines: after a slow, cold start to the year, the national market is still working its way back to solid footing.

The national median price of a single-family detached home landed at $862,400 in the second quarter — down 0.9% from a year earlier, though up a modest 0.6% from the first quarter. Royal LePage President and CEO Phil Soper described it as a market where “what has kept consumers on the sidelines is not a lack of interest, but a lack of urgency.”

That hesitation shows up most clearly in Canada’s two biggest markets. Detached home prices in the Greater Toronto Area posted a 3.6% year-over-year decline. Greater Vancouver detached prices were down 5.2%. Both regions are still working through the kind of price correction Winnipeg’s detached market simply hasn’t seen.

Royal LePage's Q2 2026 numbers show a mixed national picture. Here's where Winnipeg fits into it.

 

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Winnipeg’s Story: Still Climbing

While the country’s priciest markets cool off, Winnipeg is doing the opposite. The median price of a single-family detached home here rose 2.6% year-over-year to $470,400 in the second quarter.

It sounds like a small number next to Toronto’s price tags, and that’s exactly the point. Winnipeg isn’t chasing headlines — it’s quietly compounding. According to Michael Froese, broker and manager at Royal LePage Prime Real Estate, “Winnipeg’s spring market performed largely as expected, with activity building steadily through May before beginning to level off in June, signalling the seasonal market peak. Despite lower sales volumes, home prices continued to post modest year-over-year gains due to limited inventory.”

That word — modest — is doing a lot of work here, and it’s worth sitting with. Winnipeg’s own board data backs it up: going back to 2020, the average Manitoba detached home price has climbed from roughly $310,000 to $431,000 — and in that stretch, there was really only one down year, in 2023, when higher interest rates cooled things off nationally. No boom, no bust. Just a market that keeps inching forward while bigger cities go through wilder swings.

Zoom out further and the pattern holds. Manitoba’s total real estate transaction value has grown from $858 million in 1988 to just over $6 billion in 2025 — through four recessions and a pandemic. Even during the 2008 financial crisis, when other markets saw prices collapse, dollar volume here kept climbing. That’s not a market that avoids downturns entirely — it’s one that tends to absorb them better than most.

Froese also flagged something worth watching: inventory has improved meaningfully since May, giving buyers more selection than they’ve had in a while, and changes to immigration policy are starting to influence investor behaviour in the rental and new-development space. Neither is a red flag on its own — but both are signals worth understanding if you’re planning a move in the next few months.

If you’re relocating here yourself, numbers like these only tell part of the story — download the guide to moving to Winnipeg covers what to know before you buy in a new city.

👉 Get New Listings Sent Directly to You
Sign up for MLS alerts so you're seeing new Winnipeg listings the moment they hit the market — not after the best ones are gone.

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What the Forecast Says

Royal LePage doesn’t just report where prices have been — it forecasts where they’re headed. For the fourth quarter of 2026, the national aggregate price is projected to rise 2.0% year-over-year. Winnipeg’s forecast is more than double that: 5.0%, one of the highest projected gains of any major market Royal LePage tracks — tied with Greater Montreal and behind only Quebec City.

Compare that to where Toronto and Vancouver are headed. Both are forecast to keep declining into Q4 2026 — Toronto by 2.0%, Vancouver by 3.5%. It seems like the country’s most expensive markets and its most affordable ones are moving in opposite directions right now, and Winnipeg is squarely on the growing side of that split.

Worth noting: Royal LePage publishes its quarterly forecast as an aggregate figure across all housing types, not broken out by detached specifically the way this quarter’s actual numbers above are — but it’s still the clearest signal we have of where each of these markets is headed.

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What This Means for Buyers

It sounds like now might be a good window — and for a lot of buyers, it genuinely is. Inventory has opened up since the spring, giving you more to choose from than earlier this year — you can browse homes for sale in Winnipeg anytime to get a feel for what’s actually out there right now. However, that Q4 forecast matters too: if Royal LePage’s 5.0% projection holds, waiting doesn’t come free. The math on affordability shifts a little more with every quarter Winnipeg keeps climbing while the rest of the country levels off.

That doesn’t mean rushing into a purchase that doesn’t make sense for you. It means understanding where your specific price range and neighbourhood actually sit in all of this — which is a very different conversation than a national headline can give you.

Before you budget for a purchase, it’s worth knowing what you’ll actually pay beyond the sale price — see our breakdown of closing costs for Winnipeg buyers. Once you’ve got a sense of the numbers, take a look at current Winnipeg listings to see how they line up with your budget.

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What This Means for Sellers

If you’ve been holding off on listing because of what you’ve read about the national market, it’s worth separating what’s happening in Toronto and Vancouver from what’s actually happening here. Winnipeg sellers aren’t dealing with the price corrections making national headlines — they’re working in a market where detached home prices are still posting gains, with limited inventory continuing to support prices.

That said, rising active listings mean buyers have more options than they did a few months ago, which puts a premium on pricing a home accurately from day one rather than testing the market with a number that's too optimistic.

Once you accept an offer, the process moves fast — our guide to the first 7-21 days of a Winnipeg home sale walks through what happens next.

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FAQ

Is Winnipeg’s housing market really outperforming Toronto and Vancouver right now?
Based on Royal LePage’s Q2 2026 National House Price Survey, yes — the median price of a single-family detached home in Winnipeg rose 2.6% year-over-year, while detached prices in the Greater Toronto Area and Greater Vancouver both declined by more than 3.5%.

Why is Winnipeg growing while bigger cities are falling?
Limited inventory continues to support prices here, and Winnipeg never saw the extreme pandemic-era run-up (and subsequent correction) that hit Toronto and Vancouver. It's a steadier, less volatile market.

Is now a good time to buy in Winnipeg?
It depends on your specific situation, price range, and timeline — but Royal LePage's own forecast has Winnipeg prices rising faster than the national average through the end of 2026, which is worth factoring into your decision either way.

Where does this data come from?
Royal LePage's National House Price Composite, based on data from RPS Real Property Solutions, covering 65 of Canada's largest real estate markets, released quarterly.

So — how does a market like this change what you're planning to do this year?

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👉 Free Guide: What Every Seller Should Know
A straightforward breakdown of what actually happens once you list — and how to make sure your home's price reflects a market like this one, not last year's.

Data & Accuracy Notice: Housing price data referenced in this post is sourced from the Royal LePage National House Price Survey and Market Forecast (Q2 2026), based on data from RPS Real Property Solutions, and from the Winnipeg Regional Real Estate Board (WRREB) historical monthly and annual statistics (1988–2025). Unless noted otherwise, price figures reflect single-family detached homes specifically; the Q4 2026 forecast figures are published by Royal LePage as an aggregate across all housing types. Figures reflect market activity through the second quarter of 2026 (Royal LePage) and May 2026 / year-end 2025 (WRREB). Forecast figures are projections only and are not guaranteed. Real estate markets move quickly — for the most current information on your specific situation, reach out directly.

About: Justin Zinkowski is a Realtor® with Royal LePage Prime Real Estate, serving Winnipeg, Manitoba, and the Interlake region. He specializes in helping buyers and sellers make confident, well-informed decisions grounded in real market data — not headlines.

Source: Royal LePage, “Better late than never: Canada’s delayed spring housing market could set the stage for a more active second half of the year,” Royal LePage National House Price Survey, Q2 2026. Historical Manitoba data: Winnipeg Regional Real Estate Board (WRREB), All MLS® 1988–2025 annual report and internal WRREB historical stats tracker.

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