By Jeremy Davis
All MLS® sales and dollar volume in May 2025 increased compared to May 2024 and the 5-year-average. All MLS® active listings were down from May 2024 but up from the 5-year average. Residential detached homes saw increases to MLS® sales, dollar volume and average prices over May 2024 and the 5-year average. Condominiums, on the other hand, saw decreases to MLS® sales and dollar volume but an increase to average prices from May 2024 and the 5-year average.
“May 2025 recorded the highest monthly condominium average price ever recorded in our market region,” said Michael Froese, 2025-2026 President of the Winnipeg Regional Real Estate Board. “This was the best May on record for All MLS® total dollar volume and also residential detached average prices and dollar volume. From a year-to-date perspective, residential detached and condominium average prices were the highest on record through the first five months of a year.”
The real estate market performance in May saw All MLS® sales of 1,789 up 4% over May 2024 and 3% above the 5-year average. Active MLS® listings of 3,650 were down 11% and total MLS® dollar volume of over $737 million was up 12% from May 2024. Residential detached MLS® sales of 1,259 were up 6% while the average price of $459,320 was up 8% when compared to May 2024. Condominium MLS® sales of 232 were down 16% and the average price of $297,864 was up 7% over last May.
From a year-to-date perspective, All MLS® sales of 6,094 were up 7%, total MLS® listings of 9,945 were down 1% while total dollar volume of over $2.4B was up 14% over 2024. Year-to-date residential detached MLS® sales of 4,067 were up 6% and the average price of $456,972 was up 9% when compared to last May. Condominium MLS® sales of 902 and the average price of $277,954 were both statistically even with May 2024.
Residential detached homes in May saw MLS® sales of 1,259 which is 6% above the 1,185 seen last May and 3% above the 5-year average of 1,217. Residential detached homes saw active MLS® listings of 1,724 which is down 13% from the 1,985 seen last May and 3% above the 5-year average of 1,670. The average price of $459,320 for a residential detached home rose 8% over last May’s $425,108 and is up 8% over the 5-year average of $426,939.
For May, Waverley West was the neighbourhood in Winnipeg which saw the most residential detached homes sold with the second most coming in East Transcona. Outside Winnipeg, the Steinbach area had the most residential detached homes sold while the second most was in the Morden/Winkler area.
The most active price range was $400,000-$499,999 which saw 315 MLS® sales, representing 25% of all residential detached MLS® sales in May. The $300,000-$399,999 price range was the second most active with 271 MLS® sales representing 22% of all residential detached MLS® sales in May.
There were 23 residential detached homes sold over $1 million in May, with the highest priced at over $3 million. May 2024 had 18 residential detached homes sold over $1 million with the highest price at over $3.5 million.
MLS® sales of 232 for condominiums in May were 16% below the 275 seen last May and 9% below the 5-year average of 255. Active MLS® listings of 451 for condominiums were 3% below the 467 seen last May and 6% below the 5-year average of 478. The average price of $297,864 for a condominium in May was 7% above last May’s $277,510 and 10% above the 5-year average of $271,814.
For May, Osborne Village was the neighbourhood in Winnipeg which saw the most condominium MLS® sales followed by Fort Richmond. Outside Winnipeg, the Niverville/Ritchot area had the most MLS® sales in May followed by the La Salle area.
The most active price range for condominiums was the $200,000-$299,999 range with 80 MLS® sales which represents 35% of all condominium MLS® sales in May. The $300,000-$399,999 range was the second most active with 52 MLS® sales in May, representing 22% of all condominium MLS® sales.
There was one condominium sold for over $1 million in May, coming in at just over $1.5 million.
“In a fast-moving real estate market, it’s essential to have a plan and working with a knowledgeable REALTOR® can prove invaluable for buyers and sellers,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Whether you are buying or selling, knowledge is power, and a REALTOR® will build a personalized strategy catered to you. With access to the latest MLS® market data, a REALTOR® will have your best interests in mind to help you get the best possible price in a purchase or sale.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director External Relations & Market Intelligence.