Posted on December 15, 2025 by Dino Stepic
A strong year winds down as November shows a seasonal slowdown.
As we head into the final month of 2025, the Winnipeg real estate market is doing exactly what you would expect this time of year: easing slightly month over month, while still posting one of the strongest year-to-date performances on record.
November brought fewer sales and lower dollar volume compared to last year, but prices, especially on a year-to-date basis, remain well ahead of 2024. In short, the market is cooling seasonally, not structurally.
Here’s a breakdown of what happened in November.
Overall MLS Market: Seasonal Slowdown, Strong Year-to-Date Results
935 sales (down 10% from November 2024)
Active listings: 3,165 (down 5%)
Total dollar volume: $349M+ (down 12%)
While November activity slowed compared to last year and the five-year average, year-to-date numbers remain impressive. Through the end of November, total MLS sales are the third highest on record, and total dollar volume is the second highest, a strong finish heading into year-end November 2025 Market Release.
Detached Homes: First Price Dip of 2025
630 sales (down 7%)
Average price: $420,121 (down 3%)
Listings: 1,357 (down 5%)
November marked the first month in 2025 where the average price of detached homes declined year over year. That said, prices are still above the five-year average, and year-to-date detached prices are up 6% overall.
Inside Winnipeg, the average detached price landed at $429,201, while outside the city it averaged $399,250.
Top Winnipeg neighbourhoods by detached sales:
• East Kildonan
• St. Vital
• River Park South
• River Grove
Most active price range:
$300K–$399K (25%), followed closely by $400K–$499K (22%)
Luxury segment:
12 homes sold over $1M, with the highest sale exceeding $2M November 2025 Market Release.
Condominiums: Fewer Sales, Higher Prices
129 sales (down 15%)
Average price: $272,718 (up 6%)
Listings: 403 (up 2%)
Condo sales slowed in November, but prices continued to climb, setting a new November record. This continues the trend we’ve seen throughout the year where affordability-focused segments remain resilient.
Most active condo neighbourhoods:
• Osborne Village
• Linden Woods
Most popular price range:
$200K–$299K (38%), followed by $100K–$199K (26%) November 2025 Market Release.
Residential Attached: Mixed Results
77 sales (down 9%)
Average price: $356,847
Listings: 266 (up 13%)
Attached homes saw softer sales overall in November, though pricing remains stable and above the five-year average. Outside Winnipeg, attached home sales actually increased sharply, highlighting continued demand in surrounding communities.
Year-to-Date Snapshot (Jan–Nov 2025)
14,431 total MLS sales (up 4%)
Total dollar volume: $5.7B+ (up 10%)
• Detached homes: 9,842 sales, avg. $451,137 (up 6%)
• Condos: 2,070 sales, avg. $283,498 (up 3%)
Despite a softer November, 2025 will finish as one of the strongest years Winnipeg real estate has ever seen November 2025 Market Release.
Across the Region
Year-to-date detached home performance:
What This Means
November’s slowdown is typical for the holiday season. Buyers pause, sellers wait, and activity naturally cools. What matters more is the bigger picture, and that picture shows strong pricing, healthy demand, and solid fundamentals heading into 2026.
If you’re planning a move early in the new year, winter is the perfect time to get your strategy in place. Preparation now creates better results when the spring market wakes up.
📩 Thinking about your next move?
Whether you’re buying, selling, or just curious what your home might be worth heading into 2026, send them my way.
