Manitoba Real Estate Association MLS® home sales remain on solid footing despite tariff uncertainty
The number of homes sold through MLS® Systems of real estate boards in Manitoba totaled 1,251 units in March 2025. This increased by 5.3% from March 2024.
Home sales were 11.6% below the five-year average and 1.5% below the 10-year average for the month of March.
On a year-to-date basis, home sales totaled 2,943 units over the first three months of the year. This was a gain of 6.4% from the same period in 2024.
“Home sales and new listings both posted year-over-year increases and remained at very supportive levels for our provincial housing market, while average price levels rose to a new all-time record just shy of $400K,” said Sandy Donald, President of the Manitoba Real Estate Association. “There was much uncertainty leading up to the April 2nd announcement of which tariffs were going to come into effect. Canada seems to have avoided the worst of them for now, with 25 percent remaining on aluminum and steel exports and 25 percent now levied on non-CUSMA compliant vehicles and auto parts but thankfully no across-the-board tariffs on other goods exported from Canada, such as our many agricultural products that we send to the U.S.”
The average price of homes sold in March 2025 was a record $399,132, up by 10.1% from March 2024.
The more comprehensive year-to-date average price was $381,577, an increase of 8% from the first three months of 2024.
The dollar value of all home sales in March 2025 was $499.3 million, a sizable gain of 15.9% from the same month in 2024.
The number of new listings increased by 8.3% from March 2024. There were 1,985 new residential listings in March 2025.
New listings were 3.4% below the five-year average and 7.9% below the 10-year average for the month of March.
Active residential listings numbered 2,653 units on the market at the end of March, a sharp decrease of 15.4% from the end of March 2024.
Active listings were 4.6% 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 2025, down from the 2.6 months recorded at the end of March 2024 and below the long-run average of 3 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.
BOARD & ASSOCIATION INFORMATION
Founded in 1949, the Manitoba Real Estate Association represents more than 2,600 real estate professionals throughout the province. MREA uses its expertise to build, empower and uphold a trusted and sustainable real estate profession to ensure Manitobans value the role that REALTORS® have in building stronger communities, and in helping Manitobans through the most financially impactful decisions of their lives.
REALTOR® is a trademark, that identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.
For more information,
please contact:
Manitoba Real Estate Association
1873 Inkster Blvd
Winnipeg, MB, R2R 2A6
Tel: 204-772-0405
Web: https://realestatemanitoba.com/
Sandy Donald
