Spence, Winnipeg - July 2026 Real Estate Report

Spence, Winnipeg: Honest Numbers for Your Block

If you live in Spence and you're wondering whether now is the time to make a move - or just curious what your place is actually worth - here's the straight story. No fluff, no spin, just what the numbers are telling us right now.

The Vibe: What's Happening on the Ground

Spence is one of Winnipeg's most affordable pockets, and the data backs that up. We're sitting in the bottom tier on the city-wide price leaderboard for houses - ranked 174 out of 185 neighbourhoods. That sounds rough, but flip it around: if you're a buyer, Spence is one of the few places left in Winnipeg where you can still get into the market without stretching yourself thin.

For houses, the market is taking a breather. Only 1 house sold recently, and homes are sitting for an average of 72 days before finding a buyer. Sellers are also accepting less than asking - buyers are paying about 95 cents on the dollar at the negotiating table. That gap matters when you're pricing your home to sell.

On the condo side, the story is a bit different. The predicted market value for condos is sitting at $1,502,277 - actually ticking up compared to the 3-month average of $1,486,802. Condo growth ranks 101 out of 190 Winnipeg neighbourhoods, which puts us right around the middle of the pack. Not a star performer, but not falling behind either.

Houses vs. Condos - A Quick Snapshot

• House average HonestDoor Price: $214,190 - up 1.04% from last period
• House predicted market value: $211,980 - down slightly from the 3-month average of $217,376
• House average sale price: $147,700 - current listings averaging $154,900
• House price per square foot: $174
• House days on market: 72 days average
• House sale-to-list ratio: 95.35% - buyers are winning negotiations
• House rental yield: 6.09% - that is a strong return for landlords
• House estimated rent: $1,150 per month
• House growth rank: 155 out of 193 Winnipeg neighbourhoods
• Condo average HonestDoor Price: $1,486,266 - down 1.07% from last period
• Condo predicted market value: $1,502,277 - trending up from the 3-month average
• Condo estimated rent: $5,192 per month
• Condo rental yield: 2.73%
• Condo growth rank: 101 out of 190 Winnipeg neighbourhoods

How Spence Stacks Up Against the Neighbours

Colony next door has an average HonestDoor Price of $468,600 for houses - more than double what we're seeing in Spence. Central Park comes in at $265,582. Portage Ellice is actually cheaper than us at $200,248. So Spence sits in a real middle ground - not the cheapest option, but significantly more accessible than Colony, which is pulling in a very different buyer profile.

For renters and landlords, that 6.09% rental yield on houses is the number worth circling. In a city where a lot of neighbourhoods are delivering yields in the 3-4% range, Spence is punching above its weight for income-focused investors.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment

Here's something most Spence homeowners don't think about until it's too late. Your city tax assessment is a snapshot from the past - it gets updated on a schedule, not in real time. The market doesn't wait for that schedule.

The HonestDoor Price is updated continuously using actual sales data, market trends, and real comparable transactions. Right now, the HonestDoor Price for houses in Spence is $214,190. Your tax assessment could be thousands of dollars off in either direction - and if you're making a decision about selling, refinancing, or even just understanding your net worth, that gap costs you.

Think of the HonestDoor Price as the real-world check. It's what the market is actually saying your home is worth today - not what a government office decided it was worth 18 months ago.

The "So What?" - Thinking About Selling This Summer?

Here is the honest take for anyone in Spence weighing a summer sale.

The house market is soft right now. Homes are taking 72 days to sell, buyers are negotiating below asking, and values have dipped 1.40% recently. That does not mean you should panic - but it does mean you need to price sharp from day one. Overpriced listings in a buyers market just sit there, and a stale listing is the worst thing you can have going into summer.

If you own a house in Spence and you're thinking about selling, the move is to check your HonestDoor Price now, price at or just below it, and get ahead of any further softening. Waiting for the market to bounce back is a gamble when the 3-month trend is pointing down.

If you're a landlord or an investor holding a house here, that 6.09% rental yield is genuinely good news. Renting beats selling in this market if you can afford to hold. The income story in Spence is stronger than the appreciation story right now.

For condo owners, the picture is a little steadier - values are nudging up from the 3-month average. But with only moderate rental returns at 2.73%, the math on holding versus selling is tighter. Worth running the numbers before you decide.

Bottom line: Spence is affordable, it has real rental upside for houses, and the condo market is holding its ground. Just go in with eyes open - this is not a neighbourhood where you can set an aggressive price and wait. Price it right, move with purpose, and the summer market can still work in your favour.

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.