Winnipeg’s top neighbourhoods

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

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by

From the April 2016 issue of the magazine.

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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

  • 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

One comment on “Winnipeg’s top neighbourhoods

  1. Being the 8th largest city in Canada, Winnipeg is more affordable for average Canadians.The real estate values are stable but the city is growing up with new emigrants as well as immigrants.Great place to invest in real estate for good return on your investments .

    Reply

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