43.5
Below average
Property score
43.5
Below average
Overall 43.5
Smaller than most nearby homes
616 sqft (bottom 3%)
Built in 1941 (6 yrs older than avg)
Located in a above-average income area
with median household income of ~77k
Transit 74.0
2-min walk to transit with 2 nearby routes
Within 500m: 4 dining spots, 2 parks, 1 fuel station, and 1 place of worship nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Below average
37% smaller than neighborhood avg.
Year Built
Below average
6 yrs older than neighborhood avg.
Mother tongue
English · 88%Tagalog · 4%
Past 10 years Melrose sales snapshot (~80% of all data)
259
212.8k
$256/sqft
1947
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43.5 is composed by the two sections below.
Property Score
Community Score
Melrose
How to read: Share of sales in each ~$50k price band for “melrose” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
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
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.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110837
$77K
Median household income
$88K
Average household income
13%
Low income (LIM-AT)
0.2
Income inequality (Gini)
3.1
P90 / P10 ratio
30%
Single-person households
22%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
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.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
318 Melrose Avenue E — 8 amenities found within 500 m, across 4 categories, including 4 dining (nearest 421 m), 2 parks (nearest 395 m).
Melrose · WPS public data · 2026
Annual incidents
5
2026
vs. city avg
-83%
relative to avg
Year-over-year
▼ -94%
vs. prior year
Primary type
Property
60%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 32% | Bottom 35% | Bottom 14% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview & Key Characteristics
This home at 318 Melrose Avenue E is a compact, post-war bungalow built in 1941, sitting on a standard-sized lot for its established Melrose neighbourhood. Its primary defining characteristic is its modest 616 square feet of living area, which is notably smaller than most homes on its street, in the area, and across Winnipeg. This results in a relatively low municipal assessed value of $280,000, which is quite typical for Melrose but sits below the city-wide average.
The appeal here is grounded in affordability and lot potential. For the price point, you secure a home in a mature neighbourhood with a decent 4,016 sqft lot. This presents a clear value proposition: it’s an entry point into homeownership where the land holds significant value. The property last sold between $200k-$250k in 2017, suggesting a history of being a practical, budget-conscious option.
This home would best suit first-time buyers or investors looking for a straightforward, lower-cost property with renovation or expansion potential (subject to permits and budget). It’s less suited for those needing immediate move-in ready space or for families requiring multiple bedrooms.
Frequently Asked Questions
1. Why is the living area so much smaller than the averages shown?
This is a key feature of this property. At 616 sqft, it's a compact bungalow, significantly smaller than the typical Winnipeg home. This is the main factor behind its below-average city-wide assessed value.
2. The assessed value is average for the street but below average for the city. What does that mean?
It indicates that Melrose Avenue E and the broader Melrose area consist of generally more affordable, modestly-sized homes compared to the Winnipeg average. This property is priced in line with its immediate neighbours.
3. What can the lot size tell me about this property?
The lot is just over 4,000 sqft, which is very standard for the area. It's not oversized, but it provides the typical yard space expected in the neighbourhood and offers potential for outdoor living or future expansion, which is where much of the property's long-term value may lie.
4. The home was built in 1941. What should I consider?
As an 85-year-old home, prospective buyers should budget for potential updates to major aging components like the roof, plumbing, electrical, and insulation. A thorough pre-purchase inspection is essential.
5. How can I find out the exact past sale price?
The displayed sale history from 2017 is an estimated range. As noted on the detail page, you can request the exact sale price by emailing the listing service directly; they provide this information manually at no cost.
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