Manitoba’s housing market remains in seller’s territory in July 2026, with 2.2 months of supply – up 15.8% from a year ago but still well below the long-run average of 2.8 months. The provincial average home price was $399,003, up 2.2% year-over-year. The benchmark price rose 3.2% to $392,900, with single-family homes and townhouses both driving the gains. Sales fell 7.2% to 1,617 transactions while new listings dropped 2.2%, keeping inventory relatively tight despite the year-over-year loosening.
Key statistics (July 2026)
| Metric | Value | Year-over-Year |
|---|---|---|
| Average Home Price | $399,003 | +2.2% |
| YTD Average Price | $409,951 | +3.0% |
| Benchmark Price | $392,900 | +3.2% |
| Total Sales | 1,617 | -7.2% |
| New Listings | 2,222 | -2.2% |
| Active Listings | 3,577 | +8.7% |
| Months of Supply | 2.2 | +15.8% |
| Market Condition | Seller’s Market | N/A |
Benchmark prices by property type
| Property Type | Benchmark Price | YoY Change |
|---|---|---|
| Single-Family | $413,500 | +2.9% |
| Townhouse | $347,300 | +3.2% |
| Apartment | $238,000 | +3.1% |
Market conditions
Manitoba is in a seller’s market as of July 2026, with 2.2 months of supply – up 15.8% year-over-year but still well below the long-run average of 2.8 months for this time of year. Conditions clearly favour sellers, though the year-over-year loosening in inventory gives buyers marginally more room than a year ago.
Sales fell 7.2% year-over-year to 1,617, while new listings declined a smaller 2.2% and active listings actually rose 8.7% – inventory is building even as sales soften. The benchmark price is still up 3.2% overall, with single-family (+2.9%) and townhouses (+3.2%) both posting similar gains. Apartments are also positive at +3.1%, making this one of the few provinces where every property type is still appreciating year-over-year.
Regional analysis
Winnipeg dominates Manitoba’s housing market, accounting for the vast majority of provincial sales activity. The city continues to benefit from strong demand supported by relative affordability compared to larger Canadian cities, steady population growth, and a diversified economy.
Single-family homes remain the strongest segment by price level, with the benchmark at $413,500 (+2.9% YoY). Apartments at $238,000 (+3.1%) continue to attract first-time buyers and investors drawn to Winnipeg’s entry-level pricing. Townhouses at $347,300 (+3.2%) posted the largest year-over-year gain of the three segments this month.
The year-to-date average of $409,951 is up 3.0% from the same period in 2025, a more moderate pace than earlier in the year. Manitoba’s smaller cities and rural areas generally offer even more affordable options, though with limited reporting data compared to Winnipeg.
Key trends
- Seller’s market persists, but loosening – At 2.2 months of supply, conditions remain in seller’s territory, though up 15.8% year-over-year and still below the long-run average of 2.8 months.
- All property types appreciating – Single-family (+2.9%), townhouse (+3.2%), and apartment (+3.1%) benchmarks are all positive year-over-year, unusual compared to many other provinces seeing declines.
- Sales softening, inventory building – The 7.2% decline in sales combined with an 8.7% rise in active listings suggests the market is edging toward better balance.
- New listings pulling back less than sales – New listings fell only 2.2%, a smaller decline than the 7.2% drop in sales, contributing to the inventory build.
- Affordability advantage intact – Manitoba remains significantly more affordable than BC, Ontario, and Quebec, continuing to attract interprovincial migrants.
Housing affordability
Manitoba is one of Canada’s most affordable provinces, with an average home price of $399,003 in July 2026. To purchase a home at the provincial average with a 20% down payment, a household would need an estimated annual income of approximately $96,500.
The single-family benchmark of $413,500 requires roughly $100,000, while apartments at a benchmark of $238,000 are accessible at approximately $67,000. These figures are well within reach for many Manitoba households, contributing to the province’s continued population growth.
Use our mortgage affordability calculator to determine how much home you can afford, or our income to afford home calculator to estimate the salary needed at Manitoba price levels.
Useful calculators
- Mortgage Calculator
- Mortgage Affordability Calculator
- Income to Afford Home Calculator
- Land Transfer Tax Calculator
- Closing Costs Calculator
- Mortgage Rates
- First-Time Home Buyer Guide
Manitoba city housing reports
- Winnipeg Housing Market — Winnipeg prices, sales, and market conditions
- Canada Housing Market Overview — National trends and provincial comparisons
Buying a home in Manitoba: practical guide
Closing costs:
- Manitoba Land Transfer Tax: sliding scale to 2% (on a $330,000 home, ~$3,600)
- First-time buyer LTT rebate: up to $1,720
- Lawyer fees: $1,200–$2,000
- Home inspection: $400–$550
- Title insurance: $200–$400
Manitoba Property Tax Credit: Manitoba offers a homeowners’’ Education Property Tax Credit of up to $350/year.
First-time buyer programs in Manitoba:
- Federal FHSA: Up to $40,000 tax-sheltered
- RRSP Home Buyers’’ Plan: Up to $35,000 per person
- Manitoba LTT Rebate: Up to $1,720 for first-time buyers
Manitoba housing market outlook
2026 outlook: Winnipeg’’s housing market has returned to balanced conditions after a moderately competitive 2021–2022 period. Rising supply and easing demand (as interprovincial migration slowed from post-COVID peaks) have improved buyer choice. Interest rate decreases from Bank of Canada in 2024–2025 have helped reactivate some demand.
Rural Manitoba: Agricultural Manitoba remains among Canada’’s most affordable housing, with detached homes available for $100,000–$200,000 in many smaller communities. Brandon (Manitoba’’s second city) offers detached homes around $280,000–$350,000.
Frequently asked questions
Is Winnipeg real estate affordable in 2026? Yes — Winnipeg remains one of the most affordable major Canadian cities for homeownership. The benchmark price (~$320,000) requires a household income of approximately $70,000–$80,000 to qualify for a standard mortgage. Manitoba’’s cold winters are a significant lifestyle consideration but also keep speculative demand lower than warmer cities.
What are the best Winnipeg neighbourhoods for first-time buyers? Elmwood, Transcona, and St. Vital offer the best combination of affordability and safety for first-time buyers on moderate incomes. Osborne Village and River Heights are premium but offer strong resale value. The North End has very low prices but higher crime risk.
Data Sources
The housing market data in this report is sourced from: