- Market value is what a buyer will pay today. The City's assessment and online estimates are starting points, not prices.
- A comparative market analysis (CMA) compares your home with recent nearby sales, adjusted for differences.
- Updates, condition and the exact street can move value more than square footage.
"What's my house worth?" sounds like it should have one answer. In practice you'll hear several. Here's what each number means.
Four numbers you might see
| Number | Who makes it | What it's for |
|---|---|---|
| City of Winnipeg assessment | City Assessment | Property tax. Based on a valuation date in the past. |
| Online estimate | An algorithm | A rough guess. Can't see inside your home. |
| Appraisal | A certified appraiser | Usually for a lender. Conservative by design. |
| Comparative market analysis | A REALTOR® | Pricing a listing, based on recent sales and current competition. |
Your City assessment is set as of a specific reference date, which can be a year or two before today, and it's built for taxation across thousands of homes. It's useful context, but buyers don't pay assessed value; they pay market value.
How a CMA works
When I prepare a home evaluation, I:
- Pull recent sales of similar homes nearby (same style, size, age, lot), ideally within three to six months.
- Adjust for differences: a finished basement, a double garage, a renovated kitchen, a busy street, a backing onto a park.
- Look at what's for sale right now, because that's your competition.
- Check homes that didn't sell. Expired listings show where buyers said no.
- Walk through your home, because photos never show the new furnace or the slope of the yard.
The result is a price range with reasons, not a single magic number.
What moves value up or down
Your ticks stay in this browser.
Tick what applies. The more boxes, the stronger your position among comparable homes.
Not sure what it's worth? A written evaluation from Adela tells you.
Estimates for planning, not financial advice.
Which number is designed to estimate today's selling price?
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Questions people ask
Is the evaluation really free?
Yes. There's no cost and no obligation to list with me.
Is a CMA the same as an appraisal?
No. An appraisal is done by a certified appraiser, often for a lender. A CMA is a REALTOR®'s market analysis for pricing a sale.
Why is my online estimate so different?
Algorithms can't see your renovations, layout or condition, and they often mix very different homes in the same area.
This article is general information for Manitoba, not legal, tax, mortgage or financial advice. Rules, rates and programs change; figures are estimates as of October 2026. Check your situation with a lawyer, lender or accountant before you act. Adela Strycharz is a REALTOR® with Real Broker Manitoba Ltd. If you already have an agreement with another brokerage, please speak with your own REALTOR® first.