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Winnipeg Housing Market Report - March 2021

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Photo by Serena | PhotographyNews & Tips For Home Buyers, Sellers & OwnersReal Estate TimesWinnipegHousing Market ReportHousing Market ReportTips for Spring-TimeHome Buyers window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-192694084-1');

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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!"His-StoryPhoto 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 and improvedWinnipeg Real Estate market report in PDFFormat.Hi, I’m Bo Kauffmann of REMAXperformance realty, and welcome to themost unique real estate report availabletoday.New and Improved? Previously, thesegments were organized according toavailable listings, sold homes, and Inventorylevels. But if you’re looking at buying orselling a $300,000 dollar house, youprobably don’t care about how $750,000homes are selling.So we’ve organizes the sections in a waythat makes sense.First up is an overview of the housingmarket this month, and comparing toprevious time periods.Up next are houses under $250,000, entrylevel homes for first time buyers inWinnipeg. The third segment focuses houses between$250K and $500K, Winnipegs most activeprice far.W H A T S T H I S A B O U T ?Each price band is fully examined andreported, with numbers of availablelistings, solds over the past month,inventory levels, average days on marketand more.Why a PDF? It allows the reader to stayon a section he or she is most interestedin (as opposed to a video). Plus it affordsthe time to examine the informationmore closely.It also allows us to embed the audiodescription of what you’re looking at.Any ads you find are also interactive,meaning you can click on certain spotsand go directly to the a d v e r t i s e r sinternet sites. I only accept ads fromtrusted and reliable service providers.These reports are a labor of love, and Ireally would appreciate your feedback,and any suggestions you might have ofimproving them.And please remember…. Bo Knows RealEstate.

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So let's take a look at the overall market conditions as they are onMarch 1st, 2021.Right now we have 577 houses available. That's houses in all priceranges. Compare that to 1,131 same time last year. So it's about half asmany available as there was a year ago. Condos, similar picture 431 condos available right now in Winnipegcompared to five 61 last year.But sales of houses are up over last year, creating a very hot sellersmarket in Winnipeg.General Market Overview

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Photo by Serena | PhotographyGeneral Market Overview

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Photo by Serena | PhotographyVISIT THEIR SITEVISIT THEIR SITEDarcy Berrington of Aire-Serv Heating &AC is our choice for all our heating,ventilation and air conditioning needs. Heis Winnipeg's "King of Comfort"01. HEATING & ACRecommended ProfessionalsAlon Lichtenstein of Great CanadianInsulation is an expert in spray-foam,blown in or Batting & Poly Insulation.Call Alon for all your insulation needs.02. INSULATION

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

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Photo by Serena | PhotographyLets take a look at available houses priced under $250,000Currently, March 1st, there are 135 active listings, whichcompared fairly evenly to the 132 listings on Feb 1st this year.But compare to last year, same time. March 2020 we had 312active listings available in the under $250K range.And while available listings are down, sales are the same over lastmonth, and last year same time period.During February this year, we sold 105 homes, with another 23showing as "Pending", for a total of 128 possible sales.Thats nearly the same as the previous month, as well as February2020, when we sold 132 homes in this range.This means the inventory drops from 77 days last year to 32 daysthis year.

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Photo by Serena | PhotographyR.A. Hughes Insurance have been providingHome, Business and Commercial Insurancefor decades. Family owned and operated,,providing 'Piece of Mind Since 1929".01. HOME INSURANCERecommended ProfessionalsVISIT THEIR SITEThomas Johnson at Cascade Financial willhelp you with all your Life/DisabilityInsurance, as well as Investment Strategyneeds. "Building Wealth - Generation toGeneration"02. LIFE & DISABILITYVISIT THEIR SITEMike Schroeder of Mortgage Architects is aconsumate mortgage professional. Hispersonal service assures that "Low Rates arejust the beginning"03. MORTGAGE BROKERVISIT THEIR SITERob White of Urban Topcoat for all yourinterior and exterior painting, refinishing anddecorating needs. There is 'Quality in hishands and he leaves it in his work"04. PAINTING & DECORVISIT THEIR SITE

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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 $350,000.H O U S E S B E T W E E N$ 2 5 0 , 0 0 0 - $ 5 0 0 , 0 0 0

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Photo by Serena | PhotographyLet's take a look at available houses bet. $250,000 & $500,000This is Winnipeg's most active price range, by far.Currently, March 1st, there are 249 active listings, which is morethan there were on Feb. 1st, but it is WAY down from a year ago.And while available listings are down, sales are actually up overlast month, AND last year.During February this year, we sold 321 homes, with another 59showing as "Pending", for a total of 380 possible sales.That's quite a bit higher over the previous month (272_ and overFebruary of last year as well (296)This means the inventory drops from 53 days last year to 20 daysthis year. Very tough market for buyers in Winnipeg.

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Don't just ask your bank teller for a pre-qualification. In this very competitive market,buyers need a proper pre-approval, complete with aletter stating such. Again, check this publicationfor a recommended mortgage professional010203Chapter Title | 00Buyer Tips for Spring Market ShoppingGet a proper pre-approval w. letterHopefully you have a very good, clean creditrating before you start looking at homes. Amortgage broker (such as listed in thispublication) can help get you there.Your real estate agent is involved in EVERY step ofthe buying process, from helping the mortgagelender, to finding a house, to working with yourlawyer and home insurance agent. Choose a greatREALTOR right from the start.Make sure your credit score is greatContact a qualified REALTOR®

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0405Chapter Title | 00Buyer Tips for Spring Market ShoppingAvoid frustration and don't look at homes listedat the very top of your price range. In our hotmarket, 80% of homes will sell with multiple bidsand for more than asking-price. Instead, look athomes priced 10% below your top-range. Can you do without a home inspection? How goodis your deposit? How quick is your financingcondition? Ask your REALTOR for guidance on whatmakes a competitive offer. He/She has probablydone this a few times before (hopefully)Don't look at homes at your top rangePlace a competitive offer

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