Manitoba Real Estate Association

The number of homes sold through MLS® Systems of real estate boards in Manitoba totaled 1,196 units in March 2026. This decreased by 4.4% from March 2025.

Home sales were 4.4% below the five-year average and 6.1% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 2,640 units over the first three months of the year. This was a significant decrease of 17.8% from the same period in 2025.

“Sales activity and new listings are still in a general easing pattern, a trend that began about a year ago. Because demand and supply are lowering in tandem, our provincial market balance has been largely unchanged and benchmark prices are still rising,” said Catherine Schellenberg, President of the Manitoba Real Estate Association. “Housing affordability remains top of mind for Manitobans. Recent polling conducted by MREA shows that 58% of Manitobans say the availability of affordable housing is very important, reflecting growing concern about whether people can find a home they can afford.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $389,800 in March 2026, increasing by 3% compared to March 2025.

The benchmark price for single-family homes was $412,700, a modest gain of 3.1% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $322,700, down modestly by 2% compared to a year earlier, while the benchmark apartment price was $230,600, a minor increase of 1.9% from year-ago levels.

The average price of homes sold in March 2026 was $405,514, up modestly by 1.6% from March 2025.

The more comprehensive year-to-date average price was $391,526, an increase of 10.4% from the first three months of 2025.

The dollar value of all home sales in March 2026 was $485 million, was a small reduction of 2.9% from the same month in 2025.

The number of new listings decreased by 6.7% from March 2025. There were 1,852 new residential listings in March 2026.

New listings were 3.3% below the five-year average and 12.2% below the 10-year average for the month of March.

Active residential listings numbered 2,510 units on the market at the end of March, a decline of 5.4% from the end of March 2025.

Active listings were 7.6% below the five-year average and 26.1% below the 10-year average for the month of March.

Months of inventory numbered 2.1 at the end of March 2026, unchanged from the 2.1 months recorded at the end of March 2025 and below the long-run average of 2.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.