The average Winnipeg homeowner should expect the value of their investment to continue to grow over the next year.

According to a new real estate market outlook from RE/MAX released this week, the average home price in Winnipeg will reach $456,238.70 next year. This is a 5% increase from 2024, when the average price was $434,513.

RE/MAX forecasts a balanced market in Winnipeg in 2025 and believes first-time home buyers will drive the market.

“The new 30-year amortization and increased threshold for insured mortgages should make it easier for first-time home buyers to purchase a home in the area,” the RE/MAX report said. “Any further declines in interest rates will continue to impact market activity and strengthen consumer confidence.”

RE/MAX predicts most homes in Winnipeg will sell next year in the $350,000 to $500,000 price range.