By Jeremy Davis
Residential detached average prices in February 2026 were statistically even with February 2025 while MLS® sales of 489 decreased 11% when compared to last year. Condominium average prices rose 4% to $284,086 and MLS® sales decreased 24% from February 2025. All MLS® sales of 786 in February 2026 were down 11%, active All MLS® listings of 2,563 were down 8% and total MLS® dollar volume of over $314 million was down 10% from February 2025.
“Condominiums reached their highest February average price on record while residential detached average prices were statistically even with 2025,” said Michael Froese, 2025-2026 President of the Winnipeg Regional Real Estate Board. “MLS® sales in 2026 have lagged behind 2025 so far but are tracking more in line with 2024, a trend I expect to see continue this year. In an environment with less choice among other property types, residential attached homes have seen increases across MLS® sales, listings, volume and average prices to start the year. With the spring market season approaching, I expect we’ll start to see market activity and inventory levels increasing soon.”
Year-to-date All MLS® sales of 1,405 through to the end of February 2026 were down 12%, total MLS® listings of 2,647 down 11% while total dollar volume of over $552M was down 9% from 2025. Year-to-date residential detached MLS® sales of 856 were down 14% and the average price of $445,448 was up 2% when compared to last February. Condominium MLS® sales of 210 were down 21% and the average price of $280,331 was up 6% above last year.
Residential detached homes in February saw MLS® sales of 489 which is 11% below the 549 seen in February 2025 and 5% below the 5-year average of 513. Residential detached homes saw active MLS® listings of 981 which is down 16% from the 1,172 seen last February and 14% below the 5-year average of 1,147. The average price of $456,232 for a residential detached home was statistically even with February 2025’s $458,376 but increased 8% from the 5-year average of $423,916.
For February, Highland Pointe was the neighbourhood in Winnipeg which saw the most residential detached homes sold followed by the Waverley West area. Outside Winnipeg, the Steinbach area had the most residential detached homes sold followed by the Morden/Winkler area.
The most active price range in February was the $400,000-$499,999 range which saw 117 MLS® sales, representing 24% of all residential detached MLS® sales. The $300,000-$399,999 price range was the second most active with 97 MLS® sales representing 20% of all residential detached MLS® sales in February.
There were 14 residential detached homes sold at or above $1 million in February, with the highest priced at over $3.3 million. February 2025 had 16 residential detached homes sold at or above $1 million with the highest priced at over $2.8 million.
MLS® sales of 118 for condominiums in February were 24% below the 155 seen last February and 15% below the 5-year average of 138. Active MLS® listings of 386 for condominiums were 12% above the 346 seen last February and 5% above the 5-year average of 369. The average price of $284,086 for a condominium in February was 4% above last February’s $273,598 and 6% above the 5-year average of $268,870.
For February, the Osborne Village area was the neighbourhood in Winnipeg with the most condominium MLS® sales followed by River Park South. Outside Winnipeg, the Morden/Winkler area had the most MLS® sales in February followed by the Gimli area.
The most active price range for condominiums was the $200,000-$299,999 range with 37 MLS® sales which represents 31% of all condominium MLS® sales in February. The $100,000-$199,999 range was the second most active with 35 MLS® sales in February, representing 30% of all condominium MLS® sales.
“What was clear from the presentations at the Winnipeg Regional Real Estate Board’s 2026 Market Insights event last month is that a lack of housing supply is having a noticeable impact on residential real estate markets across Canada,” said Crystal Hollas, CEO of the Winnipeg Regional Real Estate Board. “While this is currently true in our market region, the spring market season is around the corner, and it typically brings more choice to the marketplace. If you’re considering a move into the real estate market this spring, now is a great time to build a plan with a REALTOR® to get your current house ready for sale or to ensure you’re positioned when your dream home becomes available.”
Jeremy Davis is the Winnipeg Regional Real Estate Board’s Director of External Relations & Market Intelligence.