Steinbach has seen more house sales this year than any other area in Manitoba, outside of Winnipeg. That is according to Jeremy Davis with the Winnipeg Regional Real Estate Board.
Davis says in the first quarter of this year, there were 39 MLS (Multiple Listing Service) sales for single-family detached homes in Steinbach. That is up 22 per cent from the first quarter of 2024.
Davis says those 39 sales come from 54 listings. The number of listings in the first quarter this year was down slightly from a year ago.
According to Davis, the average selling price for a single-family home rose from $373,619 in the first quarter of 2024 to $385,294 in the first quarter of 2025. He notes the highest price sale so far this year is just over $800,000.
"The average price of a residential-detached home in Steinbach through the first quarter was $70,000 more affordable than the average in Winnipeg," states Davis. "And about $67,000 more affordable than across our market region."
When it comes to condominiums, Davis says there were eight sales from 11 listings through March 31st this year. By comparison, there were six sales from 10 listings in the first quarter of 2024.
The average selling price for a condominium in 2025 has been $265,423, which is up 30 per cent over the same period a year ago.
While single-family homes were more affordable in the first quarter of this year in Steinbach than in Winnipeg, the same cannot be said for condominiums. Davis says though condominiums were $4,000 more affordable in Steinbach than across the market region, they were $4,000 more expensive than in Winnipeg. He notes there could be a couple of reasons for that.
"Condominiums are definitely in high demand in Steinbach and when there isn't much supply, that typically results in higher prices," explains Davis.
He says in all of 2024, there were 47 condominium sales from 48 listings in Steinbach, calling it a remarkable rate of sale.
In addition to the demand driving up costs, Davis says when you have so few sales like there were in the first quarter this year, there could also be higher-end condominiums that are driving up the average.
"Even with an increase in the first quarter, a condominium in Steinbach is still $120,000 more affordable than a single-family detached home," he says.
Meanwhile, Davis says it would appear that Steinbach is currently experiencing a seller's market. However, he notes there are additional metrics they look at when making that determination.