Winnipeg, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $585,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 750,000 |
| Previous Population (2020) | 740,000 |
| Population Change | 1.4% |
| Total Private Dwellings | 300,000 |
| Occupied Private Dwellings | 280,000 |
| Population Density (per km²) | 3.0 |
| Land Area (km²) | 464.3 |
Market Analysis
Current Market Conditions and Trends
The Winnipeg real estate market is currently experiencing a period of steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 3.2%. Similarly, the median apartment price has risen to $295,000, marking a 2.5% increase from the previous year. These increments suggest a stable and resilient market environment.
The population of Winnipeg stands at 750,000 with a growth rate of 1.4%, which is consistent with the national average. This steady population increase is contributing to a sustained demand for housing in the city. Furthermore, the growing population is indicative of an expanding labor market and economy, which, in turn, supports the real estate sector.
Investment Opportunities and Potential
Investors considering the Winnipeg real estate market can find potential in both residential and rental properties. The moderate year-over-year price increases indicate room for capital gains over time. Given that prices are rising at a sustainable rate rather than surging uncontrollably, investors might be entering at a time where future appreciation is likely.
The apartment sector also offers promise due to its lower entry price point of $295,000 and a consistent growth trend of 2.5%. Rental demand is expected to remain solid due to population growth and an influx of students and young professionals seeking affordable housing options. Investment in multi-family units or purpose-built rental buildings may present lucrative opportunities for consistent cash flow.
Future Market Outlook
The outlook for the Winnipeg real estate market appears positive. Population growth is projected to continue at a stable pace which should maintain demand for housing. Additionally, if current economic conditions persist—characterized by low unemployment rates and steady economic expansion—the real estate market should benefit from these macroeconomic factors.
Furthermore, as remote work becomes more prevalent, larger cities like Winnipeg could see an inflow of residents seeking more affordable living compared to Canada’s most expensive metropolitan areas. This trend could further bolster demand for both purchase and rental markets in the city.
