Manitoba’s housing market remains in seller’s territory in March 2026, with 2.1 months of supply — unchanged from a year ago and well below the long-run average of 2.8 months. The provincial average home price was $405,514, up 1.6% year-over-year. The benchmark price rose 3.0% to $389,800, with single-family homes driving the gains. Sales dipped 4.4% to 1,196 transactions while new listings fell 6.7%, keeping inventory tight.
Key statistics (March 2026)
| Metric | Value | Year-over-Year |
|---|---|---|
| Average Home Price | $405,514 | +1.6% |
| YTD Average Price | $391,526 | +10.4% |
| Benchmark Price | $389,800 | +3.0% |
| Total Sales | 1,196 | -4.4% |
| New Listings | 1,852 | -6.7% |
| Active Listings | 2,510 | -5.4% |
| Months of Supply | 2.1 | Unchanged |
| Market Condition | Seller’s Market | N/A |
Benchmark prices by property type
| Property Type | Benchmark Price | YoY Change |
|---|---|---|
| Single-Family | $412,700 | +3.1% |
| Townhouse | $322,700 | -2.0% |
| Apartment | $230,600 | +1.9% |
Market conditions
Manitoba is in a seller’s market as of March 2026, with 2.1 months of supply — unchanged year-over-year and well below the long-run average of 2.8 months for this time of year. Conditions clearly favour sellers, with limited inventory keeping prices on an upward trajectory.
Sales dipped 4.4% year-over-year to 1,196, but this was more than offset by a 6.7% decline in new listings and a 5.4% decline in active listings. The tighter supply is supporting prices, with the benchmark up 3.0% and single-family homes leading at +3.1%. Townhouses are the outlier at -2.0%, likely reflecting softening demand in the higher-density segment.
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, with the benchmark at $412,700 (+3.1% YoY). Apartments at $230,600 (+1.9%) continue to attract first-time buyers and investors drawn to Winnipeg’s entry-level pricing. Townhouses at $322,700 (-2.0%) are the only segment showing year-over-year softness, potentially reflecting increased competition from both the detached and apartment segments.
The year-to-date average of $391,526 is up a notable 10.4% from the same period in 2025, suggesting strong early-year sales at higher price points. Manitoba’s smaller cities and rural areas generally offer even more affordable options, though with limited reporting data compared to Winnipeg.
Key trends
- Tight seller’s market persists — At 2.1 months of supply, conditions remain firmly in seller’s territory, with inventory well below the long-run average of 2.8 months.
- Single-family homes leading — Single-family benchmark prices are up 3.1% year-over-year to $412,700, the strongest segment in the province.
- Sales softening modestly — The 4.4% decline in sales is modest compared to national trends, but declining new listings (-6.7%) are preventing any buildup in inventory.
- Townhouses underperforming — Townhouses are the only property type showing a year-over-year decline (-2.0%), potentially reflecting shifting buyer preferences.
- 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 $405,514 in March 2026. To purchase a home at the provincial average with a 20% down payment, a household would need an estimated annual income of approximately $98,000.
The single-family benchmark of $412,700 requires roughly $100,000, while apartments at a benchmark of $230,600 are accessible at approximately $65,000. 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: