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Current Winnipeg Real Estate Market Report

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Photo by Serena | PhotographyReal Estate TimesReal Estate TimesReal Estate TimesNews & Tips For Home Buyers, Sellers & OwnersWinnipegReal Estate Market ReportReal Estate Market ReportNov. 2022Active HouseActive HouseActive House Listings InsideListings InsideListings Inside

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In 2005, after completing an exciting career as aPolice Officer for the City of Winnipeg, Bo joinedRE/MAX Performance Realty, Winnipeg’s largestand most successful Real Estate Brokerage.In 2006, wanting to learn how to better serve hishome buying clients, he earned the designation ofA.B.R.®, Accredited Buyer Representative. Overthe years, Bo developed a strong passion forworking with buyers and sellers of houses andcondos in Winnipeg. This passion helped him to be inducted into theRE/MAX Hall of Fame in 2010, awarded to agentswho have sold over $40 Million Dollars of realestate.In 2019, Bo received the RE/MAX LifetimeAchievement Award, presented to agents whohave sold over $120 Million Dollars worth ofhomes. By this time, Bo Kauffmann had helpedover 500 buyers and sellers of houses andcondominiums in Winnipeg.In 2020, again wanting to expand his knowledge and expertise, Bo became aCertified Luxury Home Marketing Specialist. “I love the additional tools, resources and access to international buyers that this Institute has given me.”"Mymissionis to helpyou turnyourdreams intoreality!"About the AuthorPhoto by Serena | Photography

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Photo by Serena | PhotographyOther HelpfulResourcesSeven of our most popular articles.1Monthly real estate market report forWinnipeg. Updated every month with thelatest sales and listing stats.HOUSING MARKET REPORT2Aside from the mortgage payment, buying ahome will cost in terms of legal fees, taxes,insurance and more. Here are the costs.CLOSING COSTS / HOME BUYERS3In-Depth guide for people who want to buya house or condo in Winnipeg. Step by stepinstructions and timeline.BUYING A HOME IN 20214Condos are not for everyone. But for theright person, it might be the perfect option. 6 situations where a condo is right for you.IS A CONDO PERFECT FOR YOU?5Preparation is key for getting top dollar foryour home. How to prepare your home forthe pictures that will go on the MLS.GET YOUR HOME READY FOR SALEREAD NOWREAD NOWREAD NOWREAD NOWREAD NOW6What other costs should you expect whenyou own a home? Insurance, taxes, utilities,and maintenance costs exlained.COST OF HOME OWNERSHIP7Are condo fees a complete waste of money? Many people think so, but let's take a closerlook at what condo fees actually pay for.CONDO FEES VS. HOUSE EXPENSESREAD NOWREAD NOW

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Welcome to our new andimproved Winnipeg Real Estatemarket report in PDF Format.Hi, I’m Bo Kauffmann of REMAXperformance realty, proud topresent the most unique realestate report available today.New and Improved? Previously,the segments were organizedaccording to available listings,sold homes, and Inventory levels.But if you’re looking at buying orselling a $300,000 dollar house,you probably don’t care abouthow $750,000 homes are selling.So we’ve organizes the sections ina way that makes sense.First up is an overview of thehousing market this month, andcomparing to previous timeperiods.Up next are houses under$250,000, entry level homes forfirst time buyers in Winnipeg. The third segment focuses housesbetween $250K and $500K,Winnipeg's most active far.Each price band is fully examinedand reported, with numbers ofavailable listings, solds over thepast month, inventory levels andmore.W H A T S T H I S A B O U T ?Why a PDF? It allows the readerto stay on a section he or she ismost interested in (as opposed toa video). This affords you thetime to examine the informationmore closely.It also allows us to embed theaudio description of what you’relooking at.Any ads you find are alsointeractive, meaning you can clickon certain spots and go directly tothe advertisers internet sites. Ionly accept ads from trusted andreliable service providers.These reports are a labor of love,and I really would appreciate yourfeedback, and any suggestionsyou might have of improvingthem.And please remember….buying orselling, a house or a condo inWinnipeg? I KNOW real estate.

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Let’s start with an overview of the housingmarket as it is on Nov 1st, 2022.As always, we look at the stats insideWinnipeg, plus Headingley and E/St Paul,so my numbers will not match those of theWinnipeg REALTORS® monthly report,because they include most of southeasternManitoba.On Nov. 1st, there were 1228 houses of alltypes available in Winnipeg. Compare thatto 1336 on Oct. 1st, and only 802 onNovember 1st, last year.As for sales, in October we sold 555 houseswith another 22 ‘pending’, meaning thatpotentially a total of 575 house were sold.That’s nearly identical to the 577 sold themonth before, but down significantly fromthe 756 last year same time period. In fact,that’s down 24% year over year.As I said earlier, we will find that availablehomes are UP, and sales are DOWN.W H A T ' S H A P P E N I N GI N O U R M A R K E T ?

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Photo by Serena | PhotographyOverview on Nov. 1st 2022

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The following section shows the salesand listing stats for Winnipeg housesunder $250,000These are entry-level houses, greatfor first time buyers in Winnipeg.H O U S E S U N D E R$ 2 5 0 , 0 0 0

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Currently we have 335 houses available, which is nearly the sameas 339 on Oct 1st. And on the other side of the equation, we sold 117 homes inOctober, with another 7 pending, for a potential total of 124.That’s about the same as the 121 sold during September, but downsignificantly from the 155 we sold during October of last year.I find that comparing year over year has more significance thangoing month to month.So a drop from 155 sales to 124 isnoteworthy.Photo by Serena | Photography

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The following section shows the sales andlisting stats for Winnipeg houses between$250,000 & $500,000.This is Winnipeg's most active price rangefor houses, where the average price for adetached house is around $370,000.H O U S E S B E T W E E N$ 2 5 0 , 0 0 0 - $ 5 0 0 , 0 0 0

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On November 1st, we had 495 houses available in this pricerange, which is down from the 591 on October 1st.We see a similar, perhaps more drastic difference in the sales.During Oct., we sold 326 houses plus 12 pending, for apotential sale of 338 houses. In September, that was prettymuch the same, 339, but a year ago in October we sold 445.Soabout a 25% reduction in sales, year of year, for the month ofOctober.This makes for a great time to buy.Photo by Serena | Photography

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The following section shows the salesand listing stats for Winnipeg housesbetween $500,000 and $1 Million.H O U S E S B E T W E E N$ 5 0 0 , 0 0 0 - $ 1 M I L L .

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In homes priced between 500K and 1 million, we don’t find ahuge change in availability month over month. The 344homes available right now are nearly the same number as wasavailable on Oct 1st. On the sales side, we sold 110 plus 4 pending, making forpotentially 114 sales. That’snearly identical to the 115 sold inSeptember, but down significantly from October last year,when we sold 156 homes in this price range. (about 27%fewer).Photo by Serena | Photography

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The following section shows the salesand listing stats for Winnipeg housespriced at over $1,000,000.H O U S E S A B O V E $ 1 M I L L I O N Podcast Here

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In the luxury home market, we currently have 54 homespriced at 1 Million dollars plus.This is up from the previousmonth, when we had 48 available. In this price range we sold 11 last month, more than the 7 wesold in September, and more than double the number we soldin October of last year, which was 5..In most price ranges, outside of the Million dollar plus range,availability is UP and sales are down. Photo by Serena | Photography

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Ok, lets look at the condo market inWinnipeg.On Nov 1st, we had 377 condosavailable in all price ranges, which isdown from the previous month of408. During the month of October we sold121 condos, with another 10 showingpending, for a total of 131 potentialsales. That’s down from the 146 wesold in Sept., and way down from the191 we sold in October of last year.W H A T ' S H A P P E N I N GI N O U R C O N D O M A R K E T ?

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Photo by Serena | PhotographyOverview on Oct. 1st 2022

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Active Condo ListingsListings byREMAX perfomance realtyWorking with qualified Clients. Call Me Now: (204) 333-2202

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The following section shows the salesand listing stats for Winnipeg entry-level condos below $250,000C O N D O S U N D E R$ 2 5 0 , 0 0 0

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Photo by Serena | PhotographyFor entry level condos, under 250,000 dollars, we have 216available, which is about the same as the previous month,when we had 220 available .On the sales side, we have sold 69 units with another 9showing as pending, so a total of 78 units. While same as the77 units we sold last month, it is significantly lower than the105 last year, we can see that sales have dropped off quite a bitin this range.

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Yes, one of your first steps should be to find agreat agent. One who can connect you with allthe necessary professionals to help you in yourhome search.F I N D A G R E A T R E A L T O R ®Go with a reputable lender who is willing toanswer your questions and has the time andexpertise to help you. Low rates are great, butnot necessarily the most important factor.G E T P R E - A P P R O V E DYour agent will set up a search according toyour parameters and financial abilities. Look athomes which fall into those categories. Ask your REALTOR® for honest feedback oneach home you see.L O O K A T H O M E SSee your lawyer, mortgage lender andinsurance broker. DON'T change your creditrating before possession. Look forward to thebig day. P R E P A R E F O R P O S S E S S I O N D A T EH O M E B U Y I N G T I M E L I N EYou will need at least 5% for down payment,plus approx. 3% for closing costs. What areclosing costs? Click the button below.S A V E F O R D O W N P A Y M E N TAn experienced REALTOR® will be able toguide you, and help you craft the best offeraccording to the market conditions. M A K E A N O F F E R

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The following section shows the salesand listing stats for Winnipeg condospriced over $250,000C O N D O S O V E R$ 2 5 0 , 0 0 0

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Photo by Serena | PhotographyIn the more luxurious condo price range of above 250K, we have161 units for sale on Nov 1st, down from the 188 on October 1st. Sales have dropped off here as well, with 53 potential sales, thatis 52 sold and 1 pending. Those 53 sales are down from the 71 ofthe previous month, and also down from 86 sales the previousyear, same time period.So we see that overall, the condo market is reacting similarly tothe housing market:Sales are slower, but availability is plentiful.

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