Spence, Winnipeg - August 2026 Real Estate Report

Spence, Winnipeg: Here's What Your Home Is Actually Worth Right Now

If you've been glancing at your last city assessment and feeling good about it, hold on. The numbers on the ground in Spence tell a more nuanced story - and if you're thinking about selling this summer, you need the real picture before you price anything.

The Vibe: What's Happening in Spence Right Now

Let's split this into two conversations, because houses and condos in our neighbourhood are living in completely different realities at the moment.

Houses in Spence

The honest truth? It's a buyer's market for houses right now. Here's what the numbers actually say:

• Average HonestDoor Price: $213,217 - down a slight 0.45% from last period
• Average sale price: $308,900, with listings sitting at $314,900 this month
• Price per square foot: $191
• Homes are selling at 98.09% of list price - buyers are getting small discounts
• Average days on market: 52 days
• Only 1 house sold recently - that's a quiet month
• Predicted market value: $214,190 - nudging up from the 3-month average of $213,720
• Rental yield: 6.09% - that's a strong return for landlords
• Estimated monthly rent: $1,162

52 days on market is not a fast flip. Buyers in Spence have time to look around, compare, and negotiate. If you're selling a house here, that 1.91% gap between list price and sale price is real money - on a $314,900 listing, that's roughly $6,000 left on the table. Pricing sharp from day one matters more than ever.

On the neighbourhood leaderboard, Spence houses rank 140 out of 193 for growth, 45 out of 71 for days-on-market speed, and 165 out of 185 for price - which puts us among the most affordable options in the city. That's actually a selling point for the right buyer.

Condos in Spence

The condo picture is a different animal entirely. The numbers here are striking:

• Average HonestDoor Price: $1,486,211 - holding steady with 0.00% change
• Predicted market value: $1,486,266 - but trending down from the 3-month average of $1,500,517
• Estimated monthly rent: $5,156
• Rental yield: 2.74% - moderate, not spectacular
• Airbnb estimate: $255 per night, ranked 77th in Winnipeg for short-term rental potential
• Recent value change: -1.07%
• Growth rank: 121 out of 175 neighbourhoods - below average on the city leaderboard

That 3-month moving average tells us condo values in Spence are softening slightly. A 2.74% rental yield means if you're holding a condo here purely as an investment, the math is working harder than it used to. Worth watching closely over the next quarter.

The Secret Sauce: Why Your HonestDoor Price Beats Waiting for a Tax Assessment

Here's the thing about city assessments - they're a snapshot from the past. By the time that number lands in your mailbox, the market has already moved. The HonestDoor Price is updated in real time, pulling from actual transaction data and current market signals. For houses in Spence, that means knowing your home is sitting at $213,217 today - not what the city guessed it was worth 18 months ago.

For neighbours thinking about refinancing, selling, or just keeping score, that difference is not a small thing. A stale government number can cost you thousands in negotiating power. The HonestDoor Price gives us the real-world check - what a buyer would actually pay right now, not what a spreadsheet said last year.

Compare us to nearby neighbourhoods and you can see exactly where we stand:

• Colony: HonestDoor Price $472,925 - significantly higher than Spence houses
• Central Park: HonestDoor Price $259,554 - a step up from us
• Portage Ellice: HonestDoor Price $204,656 - slightly below Spence

Spence sits in an affordable pocket of the city. That context matters when you're pricing to sell.

The So What: Should You Sell in Spence This Summer?

If you're a house owner thinking about listing this summer, here's the straight talk. The market is not running hot. Buyers have options, they know it, and they're taking their time - 52 days on market proves that. But Spence is genuinely affordable compared to most of Winnipeg, and a 6.09% rental yield means investors are paying attention. That's your buyer pool.

Price it right from day one. Don't chase a number that sounds good - chase the number that moves the property. The gap between list and sale price is already telling us that overpriced homes are sitting. A well-priced house in Spence, positioned as an affordable entry point with strong rental upside, has a real story to tell.

For condo owners, the short-term trend is softening. If selling is on your radar, sooner is probably better than waiting to see if that 3-month decline reverses on its own.

Bottom line - check your HonestDoor Price today. It takes two minutes and it's the most current number you'll find. Don't walk into a summer sale negotiation armed with last year's assessment. That's like showing up to a poker game with someone else's cards.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.