55.5
Fair
Property score
55.5
Fair
Overall 55.5
Smaller than most nearby homes
842 sqft (bottom 12%)
Built in 1973 (3 yrs older than avg)
Located in a high-income area
with median household income of ~89k
Transit 88.0
2-min walk to transit with 3 nearby routes
Within 500m: 2 schools, and 4 parks nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Below average
25% smaller than neighborhood avg.
Year Built
Near average
3 yrs older than neighborhood avg.
Mother tongue
English · 69%Punjabi · 10%
Past 10 years Valley Gardens sales snapshot (~80% of all data)
652
325k
$343/sqft
1976
Buying a home is more than a transaction. Our Winnipeg real estate agents provide market insights, pricing analysis, and neighbourhood expertise to help you decide with confidence.
Usually replies in a few minutes
Free · No credit card required
55.5 is composed by the two sections below.
Property Score
Community Score
Valley Gardens
How to read: Share of sales in each ~$50k price band for “valley gardens” (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: #46110883
$89K
Median household income
$88K
Average household income
2%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.3
P90 / P10 ratio
17%
Single-person households
27%
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
7 Meighen Bay — 6 amenities found within 500 m, across 2 categories, including 2 education (nearest 325 m), 4 parks (nearest 137 m).
Valley Gardens · WPS public data · 2026
Annual incidents
28
2026
vs. city avg
-5%
relative to avg
Year-over-year
▼ -94%
vs. prior year
Primary type
Property
71%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 29% | Top 45% | Bottom 43% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This home at 7 Meighen Bay presents a practical opportunity in Winnipeg's Valley Gardens neighborhood. Built in 1973, it is a slightly newer-than-average home for its immediate street. With 842 sqft of living space, it is notably more compact than most comparable properties in the area, ranking in the bottom quarter on its street and bottom 12% in the broader community for size. The lot is a manageable 5,197 sqft, consistent with local norms. A key financial characteristic is its assessed value for taxes, which is the lowest on its street and below the average for both the neighborhood and the city, suggesting a potentially lower property tax burden relative to nearby homes.
Key Characteristics & Appeal
The primary appeal of this property lies in its efficiency and value positioning. It suits buyers seeking an affordable entry into a stable neighborhood, with the trade-off being less interior space. It would be well-suited for a first-time buyer, a downsizer, or an investor looking for a manageable rental property. The below-average assessment is a distinct advantage, indicating ongoing ownership costs may be more favorable than the area's typical home.
A less obvious perspective is that a smaller, efficiently designed home on a standard lot can offer a simpler lifestyle with lower utility and maintenance demands. For the right buyer, this represents functionality over footprint. Its "newer" status on the street for its 1973 vintage also suggests the immediate block may have a consistent, mature character.
Frequently Asked Questions
1. Is the living space too small?
At 842 sqft, the home is significantly smaller than the area average (approx. 1,082 sqft on the street). It will require efficient use of space and is likely best for individuals, couples, or small families comfortable with a compact layout.
2. What are the benefits of the lower assessed value?
A lower assessment typically translates to lower annual property taxes. This can improve monthly affordability, even if the purchase price is competitive with other homes.
3. What does the lot size mean for me?
At just over 5,000 sqft, the lot is very typical for the Valley Gardens area. It provides adequate outdoor space for a garden, patio, or play area without the extensive upkeep of a much larger yard.
4. How does the 1973 build year affect the home?
Being built in 1973 means the home is from an era with modern wiring and plumbing standards, but major components like the roof, windows, and furnace may be nearing or past their typical lifespan and should be carefully inspected.
5. How should I interpret the ranking data?
The rankings compare this home to similar properties in three areas: its specific street, the Valley Gardens community, and all of Winnipeg. They highlight that this home's most defining features are its compact size and its lower tax assessment relative to its surroundings.
Radar charts, rankings, and side-by-side layouts work best on a larger screen. Open this page on a desktop browser for the full experience.
