Reflections on the Winnipeg Real Estate Market…
Unfortunately (or fortunately), Winnipeg rarely makes the national headlines… and it’s for good reason!
Feeling anxious about bidding wars or wondering if now is really the right time to make a move in the Winnipeg real estate market? Whether you're a data-driven buyer waiting for the perfect moment or a seller unsure if you've missed your window, you're not alone. Today, RE/MAX’s top Manitoba Realtor, Jennifer Queen, is breaking down the current market — and sharing her expert take on whether it's a good (or bad) time to buy or sell in Winnipeg.
Winnipeg: The Tortoise in a National Race of Real Estate Hares
Things that have—and always will—drive me a little bonkers:
When Winnipeg gets lumped into national real estate headlines that don’t reflect what’s really happening here on the ground. Because markets aren’t national. They’re local. Hyper-local, even.
I’ve seen neighborhoods in Winnipeg move in total contradiction to citywide trends—one pocket sees bidding wars while another softens. So, when a headline from a national outlet claims buyers are on the sidelines due to “tariff uncertainty,” we have to pause and say: That’s not our Winnipeg.
The National Narrative vs. The Winnipeg Reality
Recently, the Canadian Real Estate Association reported that tariffs and uncertainty are keeping buyers away. Yet here in Winnipeg? We're seeing pandemic-era bidding wars heat up again.
Why? Because:
Inventory is low.
Buyers are back, motivated by improved mortgage affordability.
Demand is outpacing supply in many pockets of the city.
Let’s be skeptical and zoom in.
One national article does eventually mention Manitoba—but barely—and calls us "slightly ahead" of national trends. However, our local stats tell a bolder story:
Home sales are up 10% year-over-year.
Median sale price is also up 10%.
That’s not a market sitting on the sidelines.
Supply, Demand, and the Quiet Crisis
Let’s not forget: Winnipeg’s population has grown by 71,000 people over the past three years—but our housing supply hasn’t kept pace.
Vacancy rates have halved.
Rental prices are climbing.
And the competition for both rentals and resale homes is fierce.
So no, the national picture doesn’t capture the day-to-day reality for buyers and sellers in our city.
Stop Timing the Market. Start Thinking Long-Term.
So many want to “time the market”—to buy when prices are low and interest rates are great. But here’s the secret: Rarely do those two things happen at the same time.
What has always mattered more?
Time in the market.
Buying when the time is right for your family—not when headlines say to—is how you build equity, stability, and peace of mind. Winnipeg may not be flashy. We're not a roller coaster market. But we are steady.
In the story of the tortoise and the hare, it's the hare that gets all the headlines…
But it's the tortoise who wins the race.
Winnipeg is that tortoise.
Want to chat about your options? I’m here to help! Please reach out at Jennifer@QueenTeam.ca
This month’s lowest mortgage rates:
3-year fixed - 4.04%
4-year fixed - 4.29%
5-year fixed – 3.99%
5-year variable - 4.05%
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#AgentJen
Jennifer Queen
Tel: (204) 797-7945
Email: Jen@QueenTeam.ca