39 Frigate Bay

Island Lakes, Winnipeg

Property score

90.3

Excellent

Overall 90.3 · Larger and newer than most nearby homes

2,361 sqft (top 2%) · Built in 2005 (10 yrs newer than avg)

Located in a high-income area with median household income of ~141k

Transit 70.0 · 2-min walk to transit with 1 nearby route · Within 500m: 1 park nearby

Living Area

Above average

44% larger than neighborhood avg.

Year Built

Above average

10 yrs newer than neighborhood avg.

Mother tongue

English · 64%French · 6%

Past 10 years Island Lakes sales snapshot (~80% of all data)

Sold Count

654

Median price

580k

$/sqft

$348/sqft

Avg build year

1995

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Property score

90.3 is composed by the two sections below.

Property Score

90.9Excellent
Living Area96
2,361 sqftExcellent
Year Built87
2005Excellent
Lot Size95
9,512 sqftExcellent
Neighbourhood Sales Activity32
Low

Community Score

89.5Excellent
Household Income93
Excellent
Education Level82
Excellent
Housing Stress83
Excellent
Core Housing Need100
Excellent
Employment Health83
Excellent

Neighbourhood Sales

Island Lakes

How to read: Share of sales in each ~$50k price band for “island lakes” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.

Market Conditions · WinnipegSeller's Market
Buyer'sBalancedSeller's

Sales-to-New-Listings

64.6%

1,196

sold

1,852

new listings

Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba

Sold Above Asking

65%

Majority sold above asking

68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026

With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.

Area census snapshot

Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46111206

Community deep dive

$141K

Median household income

$153K

Average household income

3%

Low income (LIM-AT)

0.2

Income inequality (Gini)

2.7

P90 / P10 ratio

7%

Single-person households

54%

Families with children

Population, labour & age

Population (2021)2,712
Labour force participation rate73%
Median age36.8
Avg household size3.3
Unemployment rate6%
Population density3190 / km²

Households & income

Low income (LIM-AT, % pop.)3%
Single-person households7%
Couple families with children54%
Median household income (2020)$141K

Housing

Renter households1%
Condominium dwellings8%
Median dwelling value (owners)$452K

Diversity, education & language

Immigrants (share of pop.)24%
Visible minority38%
Bachelor's or higher (25–64)43%
Mother tongue (1st)English · 64%
Mother tongue (2nd)French · 5%

Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.

Rankings

Living Area

Elite
2,361 sqft
0255075100
Same streetTop 3%Same areaTop 2%CitywideTop 4%
Same street · Frigate Bay
#1 / 37
Top 3% · Avg 1,713 sqft
Same area · Island Lakes
#41 / 2,119
Top 2% · Avg 1,635 sqft
Citywide · Winnipeg
#8,077 / 194,458
Top 4% · Avg 1,342 sqft

Tax-Assessed Value

Elite
607k
0255075100
Same streetTop 3%Same areaTop 6%CitywideTop 7%
Same street · Frigate Bay
#1 / 37
Top 3% · Avg 511.7k
Same area · Island Lakes
#137 / 2,119
Top 6% · Avg 494.7k
Citywide · Winnipeg
#14,482 / 194,458
Top 7% · Avg 390.1k

Year Built

Elite
2005
0255075100
Same streetTop 3%Same areaTop 8%CitywideTop 15%

Lot Size

Elite
9,512 sqft
0255075100
Same streetTop 5%Same areaTop 10%CitywideTop 7%

To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.

Transit & Walkability

Nearby stops, routes & transit score

Nearby Amenities

Dining, education, healthcare, shopping & more

39 Frigate Bay — 1 amenities found within 500 m, across 1 categories, including 1 parks (nearest 205 m).

Search radius
🌳Parks1

Crime & Safety

Island Lakes · WPS public data · 2026

Annual incidents

3

2026

vs. city avg

-90%

relative to avg

Year-over-year

-97%

vs. prior year

Primary type

Violent

67%

Sales History

Sold 1/2020CA$450k–500k
Sold price

Same street

Top 35%

Same area

Top 38%

City-wide

Top 20%
Sold 6/2017CA$450k–500k
Sold price

Same street

Top 41%

Same area

Top 42%

City-wide

Top 21%

Related homes

Highlights & common questions: 39 Frigate Bay, Winnipeg

Property Overview: 39 Frigate Bay, Island Lakes, Winnipeg

Key Characteristics & Appeal

This two-storey home in Island Lakes stands out for its above-average scale and premium positioning within its immediate neighborhood. Built in 2005, it offers 2,361 sqft of living space, which ranks in the top 3% of homes on Frigate Bay. The property sits on a large, 9,512 sqft lot, providing substantial outdoor space that is a rarity among newer subdivisions. A renovated basement and an attached garage add to its functional appeal.

The home’s primary draw is its elite standing in a highly desirable, established area. It’s not just a large house; it consistently ranks in the top 10% of its peer group for key metrics like living area, lot size, and assessed value. This suggests a property that has been maintained well and offers more substance than many contemporary builds. It would particularly suit buyers looking for a family home in a mature neighborhood who value space—both indoors and out—over a brand-new construction. It’s also a compelling option for those who appreciate a home with a proven history of value retention and a standout presence on its street.


Frequently Asked Questions

1. How does the assessed value compare to recent sale prices?
The home was last sold in early 2020 for an estimated range of $455,000 - $485,000. Its current assessed value is $607,000. This significant gap is common and reflects market appreciation over recent years; the assessed value is for taxation purposes, while the market sale price is determined by current buyer demand.

2. Is the large lot a common feature in Island Lakes?
No, it’s a distinguishing feature. At 9,512 sqft, this lot is substantially larger than the average for both Frigate Bay (~5,751 sqft) and the wider Island Lakes area (~6,407 sqft), offering uncommon privacy and yard space for the neighborhood.

3. What does the "Elite" ranking for living area mean?
It means this home’s square footage is in the top 3% of all 37 homes on Frigate Bay and the top 2% of over 2,100 homes in Island Lakes. Simply put, it is one of the largest homes available in this popular area.

4. The home is 21 years old. What should I consider?
Built in 2005, the home is newer than the Winnipeg city average. Key systems (roof, HVAC, windows) may be approaching or within their typical replacement windows, so a thorough inspection is advised. The renovated basement is a positive update.

5. Are sale prices for nearby homes a good indicator of value for this property?
Nearby homes on the same street provide useful context, but this property’s combination of superior lot size and living area makes it a unique offering. Its value should be compared to other premium, larger-lot homes in Island Lakes, not just its immediate neighbors.