While much of Canada grapples with a stagnant real estate market, a few surprising cities are thriving and bucking the trend! According to recent data from Wahi, a digital real estate platform, and Real Property Solutions, home values remained stagnant nationally in August for the second consecutive month. However, some regions are finding their groove.

Winnipeg: A Stunning 10% Surge!

Simply put, Winnipeg is defying the odds. Despite tariff and trade uncertainties that are dragging down housing prices in larger cities like Toronto and Vancouver, Winnipeg has been experiencing a remarkable 10% year-over-year increase in home prices as of August.

Michael Froese, managing broker at Royal LePage Prime Real Estate, attributes this boom to a stable local economy and a lower-than-average unemployment rate. For the first time in over 20 years, more people moved into Manitoba than left during the first quarter of 2025—a clear indicator of growing desirability.

St. John’s: Catching the Wave with a 10% Increase!

Tying with Winnipeg, St. John’s is emerging as a hot market. August saw a 10% surge in housing prices, making it the second hottest market in Canada, just trailing Quebec City’s impressive 12% rise. After years of playing catch-up, the average home price in this coastal gem is still under $400,000, significantly below the national average of $672,000 in July 2025.

Jay Patel, a realtor with Century 21 Seller’s Choice, notes that this affordability attracts a constant flow of buyers from expensive provinces like Ontario. In addition, geographic challenges, such as rocky cliffs and a limited coastline, make new construction a struggle, further intensifying demand.

Saskatoon: Modest Growth Amidst a Competitive Market

While Saskatoon’s market is on the rise, its 3% increase in August is a stark contrast to its Prairie neighbors. Tied with Calgary as the weakest major city performance, Saskatoon’s price growth is tempered by its status as a traditionally pricier location.

Despite the slower pace, realtor Mitchell Stretch highlights a silver lining: strong demand continues to roll in from new immigrants and former residents returning from pricier cities like Calgary and Toronto. The average home price here stands at $435,100, compared to $343,300 in Regina and $386,700 in Winnipeg.

Conclusion: A Tale of Three Cities!

In a country where housing prices are mostly stagnant, Winnipeg and St. John’s are leading the charge with incredible gains, driven by affordability and local resilience. Meanwhile, Saskatoon, while growing more slowly, still shows promise due to shifts in migration patterns.

As we watch these dynamics unfold, it’s clear that the Canadian real estate landscape is anything but uniform. Which city will surprise us next?