Winnipeg, Manitoba Luxury Real Estate, Homes & Condos
Winnipeg, MB Real Estate Market & Guide
Winnipeg, Manitoba is the largest city in the province as well as its capital. With over 730,000 people in its Metro area, it is a busy metropolis dubbed ‘Winterpeg’ due to its serious winters. The city covers 5,303 square kilometers with a diverse economy that also boasts a low unemployment rate. It is a lovely city sitting on the crux of the Red River and Assiniboine River. It is also very close to the U.S. border just 100 km north of Minnesota.
Major development to the city in the late 1980s upgraded a stretch of downtown Winnipeg's Portage Avenue with new office and apartment buildings, a major shopping mall, and enclosed pedestrian bridges. Multiculturalism is supported by the government with funding that helps provide major makeovers for Chinatown and the Italian quarter. The makeovers kept the Exchange District intact, as this is one of the most historically significant areas in North American due to its turn-of-the-century warehouses.
The Forks is city’s biggest tourist attraction that includes an interpretive park, historic buildings and port and even a skateboard park. With these developments, Winnipeg became a trendier city with diverse higher-end shopping, dining and entertainment. A wide variety of sports facilities make it easy to remain active in the city. There is also plenty of green space with beautiful walking trails and pathways ideal for nature and dog lovers.
Winnipeg has a growing art scene with new galleries popping up alongside the Winnipeg Art Gallery. There are also performing arts venues in Winnipeg including Centennial Concert Hall where performances by the Winnipeg Symphony Orchestra, the Manitoba Opera and the Royal Winnipeg Ballet can be enjoyed. There are also over 250 theatre productions put on each year at the Manitoba Theatre Centre.
Retail addicts will find shopping throughout the city a pleasure, including the largest shopping mall in the province, CF Polo Park with over 200 stores. The longest-running multicultural festival in the world Folklorama is also held in the city every year. Sports fans have their choice of teams including hockey and football.
Winnipeg is a major contributor to the province’s economy, producing most of its manufactured goods and retail sales. It is the head office for many major Canadian trucking firms, as well as Old Dutch Foods, Cabela's Canada, Kindersley Transport, IGM Financial Inc. and Great-West Life Assurance Co. The economy includes strong manufacturing and export industries helping to provide a more diverse economy that can remain stable. Although it has a slower-growing economy, the public sector remains one of the most important employers. Most job growth can be attributed to the following sectors:
- Life sciences, information and communication technology
- Advanced manufacturing
The service industry in hand with office support account for the most common occupations in the city.
Winnipeg is also the headquarters for Canada’s grain industry and the location for Canada’s commodity exchange, ICE Futures. Winnipeg has the sixth-highest job growth rate of all Canadian cities and an unemployment rate of about 1.5 percent lower than the Canadian rate.
Houses for sale in Winnipeg are available in many choice neighbourhoods with the most popular area being Charleswood. Many consider this spot idyllic as it offers a small-town community feel despite being in the city. One of the attractions is rural type roads that have ditches. It is safe and offers a selection of both old and new homes as well as great transportation and boutique-style shops and restaurants. Westdale is right at the edge of Charleswood where you can enjoy new housing ideal for starter homes with the benefit of the nearby Charleswood charm.
Fort Rouge is known for its century-old homes that just happen to be close to downtown. Here you will enjoy quaint homes within walking distance of the city’s trendiest spots including Churchill Drive and Osborne Street. This makes it appealing to young professionals. Glengarry is an established neighbourhood for high-income earners. Although homes here are newer, they are customized and located on lots with mature trees.
R17 might not have the most romantic name, but this rural community has gained traction with those willing to make a commute of about 45 minutes. The community is more charmingly known as St.-Pierre-Jolys, where most homes were built in the 70s and 80s and feature beautiful large lots ideal for families.
There are seven school divisions in the city, with the largest, the Winnipeg School Division having 77 schools and over 33,000 students. There is also an assortment of private and religious schools. Post-secondary options include the University of Manitoba, which many might be surprised to hear is the oldest university in Western Canada. The Université de Saint-Boniface, University of Winnipeg, Canadian Mennonite University, as well as Red River College offer a variety of degrees and diplomas for many different professions and programs.
Getting Around Winnipeg
Winnipeg Transit operates a fleet of 535 buses with 86 routes throughout the city. As well, there is free travel in downtown Winnipeg via Portage Avenue and Memorial Boulevard and back to The Forks. Pedestrians take full advantage of Provencher Bridge, linking downtown Winnipeg with St. Boniface, as well as other footpaths and enclosed pedestrian bridges that connect the downtown area. The city also offers a series of bike paths that continue to grow including off-street and on-street routes.
Winnipeg Real Estate
In December 2019, the Winnipeg market housing sales were up 25 percent over the same month in 2018 and 8 percent for the five-year average. As with many markets for Canadian real estate, the increase in Winnipeg real estate activity helped contribute to record highs of 13,662, a 7 percent increase year over year. This is just above the 13,632 MLS® sales transacted from 2016. 2019 showed record highs for the number of listings entered on the Winnipeg REALTORS® MLS Multiple Listing Service, with an increase of 8 percent year over year. The 2019 average residential-detached sales price was $324,122 a slight rise from 2018’s $321,945 while condos showed a barely noticeable rise from $238,916 in 2019 to $238,088.
If you would like more information about buying or selling a home in Winnipeg reach out to our team today.