Best Deals in Real Estate 2016: Winnipeg

Winnipeg’s top neighbourhoods

By Romana King and Mark Brown on March 9, 2016
Estimated reading time: 2 minutes

There are plenty of properties below $300K. Here's where to find them

Best deals in real estate 2016 winnipeg — (morrismulvey – Getty Images)

Winnipeggers know a thing or two about what it means to be flat. The city is surrounded by prairies and sits at the bottom of the Red River Valley, a flood plain with an extremely uniform topography. Perhaps the only thing flatter than the landscape has been the housing market.

Last year home prices in Canada’s eighth largest city barely budged, up a little over 1%. But that might be changing. A mild winter has meant an early start to the spring rush. “Coming off a flat market it’s nice to see again,” says Laurel Freis, a Re/Max realtor based in the city, noting that many of the homes for sale lately have been going above asking. If that continues it could push the average price for a single family home above $300,000. Even if it does there’s still plenty of desirable properties available well below that price point.

While Winnipeg hasn’t been part of the real estate frenzy that’s driven up prices in other Western Canadian cities, Freis notes that it also should insulate it from the price drops some of those same cities are experiencing, particularly in the higher priced homes. “We may stay flat, but [prices] don’t go down,” she says. Photo gallery: Top 25 Winnipeg neighbourhoods to buy in »

Winnipeg at a glance…

	CITY	TOP 25
Average Neighbourhood Price	$325,615	$273,872
Min	$65,000	$164,641
Max	$718,456	$375,537
Below $500K	95%	100%
Average 1-Year Return	1%	4%
Average 5-Year Return	23%	27%
Average Realtor Grade (Out Of 5)	★★★	★★★½

Top 5 neighourhoods

Realtors’ bet

St. Vital/River Heights It’s a tie. Realtors are split between St. Vital in the southeast and River Heights in the southwest quadrant of Winnipeg. There is a $100,000 difference between these neighbourhoods, with River Heights being the more expensive of the two. While both areas are cheaper relative to some of the surrounding areas, prices in River Heights cost almost 20% more than a single family detached home in the city.

Top 25 neighbourhoods

NR=Not rated

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Rank Neighbourhood Area Average price Value Average price vs. area Average price vs. metro district Average price vs. greater city area Momentum 1-year price change 5-year price change Realtor grade

1 St. Boniface 2A $267,207 N.A. 79.8% 90.9% 12.02% 32.4% ★★★★

2 Osborne Village 1B $262,143 N.A. 69.7% 89.2% 9.21% 26.7% ★★★½

3 Norwood Flats 2B $259,311 N.A. 77.5% 88.2% 4.90% 20.3% ★★★★½

4 St. Vital 2D $243,480 N.A. 72.7% 82.8% 2.79% 28.4% ★★★★

5 Crescentwood 1B $262,143 N.A. 69.7% 89.2% 9.21% 26.7% ★★★½

6 Norwood 2B $259,311 N.A. 77.5% 88.2% 4.90% 20.3% ★★★★½

7 R06 $260,390 N.A. 90.9% 88.6% 6.47% 33.4% ★★★½

8 Charleswood 1H $292,376 N.A. 77.7% 99.5% 4.17% 28.6% ★★★

9 Wildwood 1J $375,537 N.A. 99.8% 127.7% 6.86% 36.1% ★★★½

10 River Park South 2E $296,825 N.A. 88.7% 101.0% 2.96% 23.3% ★★★★

11 Riverview 1A $281,117 N.A. 74.7% 95.6% -5.46% 35.5% ★★★★

12 East Fort Garry 1J $375,537 N.A. 99.8% 127.7% 6.86% 36.1% ★★★½

13 Polo Park 5C $206,039 N.A. 88.0% 70.1% 1.80% 28.0% ★★★½

14 Sargeant Park 5C $206,039 N.A. 88.0% 70.1% 1.80% 28.0% ★★★½

15 St. Vital 2E $296,825 N.A. 88.7% 101.0% 2.96% 23.3% ★★★★

16 Niakwa Park 2G $278,853 N.A. 83.3% 94.9% 2.00% 23.1% ★★★★

17 Meadowood 2E $296,825 N.A. 88.7% 101.0% 2.96% 23.3% ★★★★

18 Fort Garry 1J $375,537 N.A. 99.8% 127.7% 6.86% 36.1% ★★★½

19 5West End 5C $206,039 N.A. 88.0% 70.1% 1.80% 28.0% ★★★½

20 Windsor Park 2G $278,853 N.A. 83.3% 94.9% 2.00% 23.1% ★★★★

21 Crescentwood 1Bw $278,760 N.A. 74.1% 94.8% -0.51% 20.9% ★★★★

22 Westdale 1H $292,376 N.A. 77.7% 99.5% 4.17% 28.6% ★★★

23 Scotia Heights 4D $223,493 N.A. 91.7% 76.0% 2.39% 21.7% ★★★★

24 Richmond Lakes 1Q $307,131 N.A. 81.6% 104.5% 4.37% 22.1% ★★★½

25 East Kildonan 3A $164,641 N.A. 62.6% 56.0% -0.89% 24.4% ★★★

Click here to see the full rankings for all 200+ Winnipeg neighbourhoods. SOURCES: WinnipegREALTORS®, Re/Max

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Rank	Neighbourhood	Area	Average price	Average price vs. area	Average price vs. metro district	Average price vs. greater city area	1-year price change	5-year price change	Realtor grade
1	St. Boniface	2A	$267,207	N.A.	79.8%	90.9%	12.02%	32.4%	★★★★
2	Osborne Village	1B	$262,143	N.A.	69.7%	89.2%	9.21%	26.7%	★★★½
3	Norwood Flats	2B	$259,311	N.A.	77.5%	88.2%	4.90%	20.3%	★★★★½
4	St. Vital	2D	$243,480	N.A.	72.7%	82.8%	2.79%	28.4%	★★★★
5	Crescentwood	1B	$262,143	N.A.	69.7%	89.2%	9.21%	26.7%	★★★½
6	Norwood	2B	$259,311	N.A.	77.5%	88.2%	4.90%	20.3%	★★★★½
7		R06	$260,390	N.A.	90.9%	88.6%	6.47%	33.4%	★★★½
8	Charleswood	1H	$292,376	N.A.	77.7%	99.5%	4.17%	28.6%	★★★
9	Wildwood	1J	$375,537	N.A.	99.8%	127.7%	6.86%	36.1%	★★★½
10	River Park South	2E	$296,825	N.A.	88.7%	101.0%	2.96%	23.3%	★★★★
11	Riverview	1A	$281,117	N.A.	74.7%	95.6%	-5.46%	35.5%	★★★★
12	East Fort Garry	1J	$375,537	N.A.	99.8%	127.7%	6.86%	36.1%	★★★½
13	Polo Park	5C	$206,039	N.A.	88.0%	70.1%	1.80%	28.0%	★★★½
14	Sargeant Park	5C	$206,039	N.A.	88.0%	70.1%	1.80%	28.0%	★★★½
15	St. Vital	2E	$296,825	N.A.	88.7%	101.0%	2.96%	23.3%	★★★★
16	Niakwa Park	2G	$278,853	N.A.	83.3%	94.9%	2.00%	23.1%	★★★★
17	Meadowood	2E	$296,825	N.A.	88.7%	101.0%	2.96%	23.3%	★★★★
18	Fort Garry	1J	$375,537	N.A.	99.8%	127.7%	6.86%	36.1%	★★★½
19	5West End	5C	$206,039	N.A.	88.0%	70.1%	1.80%	28.0%	★★★½
20	Windsor Park	2G	$278,853	N.A.	83.3%	94.9%	2.00%	23.1%	★★★★
21	Crescentwood	1Bw	$278,760	N.A.	74.1%	94.8%	-0.51%	20.9%	★★★★
22	Westdale	1H	$292,376	N.A.	77.7%	99.5%	4.17%	28.6%	★★★
23	Scotia Heights	4D	$223,493	N.A.	91.7%	76.0%	2.39%	21.7%	★★★★
24	Richmond Lakes	1Q	$307,131	N.A.	81.6%	104.5%	4.37%	22.1%	★★★½
25	East Kildonan	3A	$164,641	N.A.	62.6%	56.0%	-0.89%	24.4%	★★★