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Winnipeg Real Estate Market Report - June 2021

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Photo by Serena | PhotographyNews & Tips For Home Buyers, Sellers & OwnersWinnipeg

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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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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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Welcome to our new and improvedWinnipeg Real Estate market reportin PDF Format.Hi, I’m Bo Kauffmann of REMAXperformance realty, proud to presentthe most unique real estate reportavailable today.New and Improved? Previously, thesegments were organized accordingto available listings, sold homes, andInventory levels. But if you’relooking at buying or selling a$300,000 dollar house, youprobably don’t care about how$750,000 homes are selling.So we’ve organizes the sections in away that makes sense.First up is an overview of thehousing market this month, andcomparing to previous time periods.Up next are houses under $250,000,entry level homes for first timebuyers 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 the pastmonth, inventory levels and more.W H A T S T H I S A B O U T ?Why a PDF? It allows the reader tostay on a section he or she is mostinterested in (as opposed to avideo). This affords you the time toexamine the information moreclosely.It also allows us to embed the audiodescription of what you’re lookingat.Any ads you find are alsointeractive, meaning you can clickon certain spots and go directly tothe advertisers internet sites. I onlyaccept ads from trusted and reliableservice providers.These reports are a labor of love,and I really would appreciate yourfeedback, and any suggestions youmight have of improving them.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 market as itis on June 1st.In my 16+ years in real estate, I’ve neverexperienced a buying frenzy to the extend it ishappening right now. You may have heardstories of homes selling for 50, 75 or even100,000 ABOVE list price. These stories aretrue.What we are witnessing is the result of severalfactors. First, the available listings are way down fromthe average.Going back over the previous 3 years, we cansee that around 1200 available houses for salein Winnipeg would be an average amount forJune 1st.Today, we have 759. Actually, the numbers ofnew listings coming to market is UP, but salesare far outpacing availability this year.In Winnipeg, during the month of May, we sold1,067 plus another 48 'Pending" for a possibletotal of 1,115 Sales!Last year same period, we sold 821 houses. 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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Over the past 3 years , an average number of around 750-900 houses would sell during the month of MayThis year, we sold a confirmed 1067 with another 48 aspending and most likely to close……meaning that sales areUP around 35% over last year.The result is obvious: an increasing number of buyersplacing a strain on available listings.Hardest hit will be the first time home buyers. If you’relooking for a 300K home in a popular area, you may be outof luck for now. Houses which are listed at 280, sell for300, 320 , 350…..often without ANY conditions. If you’re putting 5% down, that’s a VERY toughenvironment to compete in. Photo by Serena | PhotographyWhy Is This Happening?

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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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Lets take a look at available houses priced under $250,000Currently, June 1st, there are 218 active listings, up slightly fromMay 1st, but down from last year where we had 269 activelistings available in the under $250K range.And while available listings are down, sales are the same overlast month, and last year same time period.During May this year, we sold 170 homes, with another 18showing as "Pending", for a total of 188 possible sales.That's up slightly from the 168, but actually lower than the 205sold last year. WHY? Because houses UNDER $250k arebecoming more rare. It's tough to find a home in this pricerange, where our average home is closer to $370K in Winnipeg.This means the inventory drops sits around 36 days, slightlylower than last year's 40 days. Photo by Serena | Photography

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Photo by Serena | Photography

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

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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 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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Let's take a look at available houses bet. $250,000 & $500,000This is Winnipeg's most active price range, by far.Currently, June 1st, there are 360 active listings, which is animprovement of May 1sts 281 listings, but is still WAY downfrom a year ago, when 575 houses were available.And while available listings are down, sales are actually up overlast year.During May this year, we sold 695 homes, with another 22showing as "Pending", for a total of 715 possible sales.That's up from April's 634, and significantly more than May2020, when we wold 539 homes. This means the inventory sits at 16 days, way down from lastyear's 42 days. A much tougher market for buyers.Photo by Serena | Photography

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Photo by Serena | Photography

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