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Tip Tuesday!

CleanHouse

10 tips to remember when preparing for an open house:

  1. Tidy up your home
  2. Use air fresheners with a light pleasant scent or bake some bread or cookies that morning.
  3. Unclutter closets & cupboards.
  4. Curb appeal! In winter, make sure walks are shoveled and in summer make sure the lawn is cut.
  5. Make minor repairs
  6. Turn all lights on
  7. Put valuables away
  8. Vacate your home
  9. If you have a family pet, plan to take it with you.
  10. First impressions are lasting impressions!

For more tips contact Clara Mitchell Enns at 204-452-9627!

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December Sales Up 4%

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PRESS RELEASE

January 12, 2016

For Immediate Release

2015 SALES SOLID WITH PRICES HOLDING FIRM

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WINNIPEG –   2015 finished on a strong note.  Following on the heels of a record sales month for November, December sales of 642 were up 4% from last December. They are the third highest for this month, and are only behind the best sales years ever by a very modest amount.

“It is really quite remarkable how close our year-end sales have been in the last few years including our highest sales year in 2007,” said WinnipegREALTORS® outgoing president David MacKenzie. “They all tend to hover just above or close to the 13,000 level and in percentage terms we are only talking a little over 1% when we compare the 12,927 sales recorded this year to the 13,079 in 2007.”

While sales and even prices have shown consistent and similar results, listings have not chartered the same path. The number of listings entered on the MLS® were 24,603 in 2015, up 7% over 2014, and 41% over the 10-year average of 17,433. With an increase in listings but sales remaining consistent, the market’s inventory has also been rising month to month. This is borne out in having over 5 months of inventory available going into 2016.

“Buyers are in a great position to take advantage of a current market which is providing a large number and array of properties for sale and ones which remain some of the most affordably-priced in the country,” said Mackenzie. “Sellers need to take heart knowing WinnipegREALTORS® is still enjoying one of the best sales years it has ever had. They need to be aware however that more competition for those sales creates more downward pressure on prices since supply is outstripping demand.”

An indicator of stiffer competition for selling your home is evident when you see the number of single family home sales selling below list price.  Properties below list accounted for  65% in 2014 but now represent 75% of the market in 2015. In December alone 87% of all single family home sales sold below list price. Of the single family or residential-detached listings which sold in 2015, on average they achieved 98% of the total list price.

When 2015 was all said and done a new MLS® dollar volume record was established at $3.5 billion. This resulted in a 2% increase over 2014. Despite sales being higher this December from December 2014, dollar volume actually fell 2.89% when compared to December 2014.

It was a tale of different stories when it came to the two primary MLS® property types. Residential-detached performed exceedingly well with sales and dollar volume up 3 and 5% respectively in comparison to 2014. On the other hand, condominiums never recovered from an unexpectedly poor first quarter where sales were off by 20%. By year end this deficit was cut in half but nonetheless represented a 10% decrease compared to 2014.

The average sales price for residential-detached was $293, 992, a 2% increase over 2014. The average condominium sales price showed a 1% decrease from $239,171 in 2014 to $236,204 this year.

Residential-detached represented nearly 3 out of every 4 properties which sold on MLS® in 2015. Condominium market share was 12.5%. 25% of residential-detached sales in 2015 happened outside Winnipeg in the capital region. The southwest quadrant of Winnipeg was second with 19% of total sales.

The most active price range for residential-detached sales in 2015 was $250,000-$299,999 (22% of total sales), followed by the $200,000-$249,999 (17%) and the $300,000-$349,999 (14%).  Average days on the market for residential-detached sales was 33 days, 3 days slower than 2014. The highest-priced residential-detached sale was $2.7 million. The least expensive sale was $8,000.

The most active price range for condominiums in 2015 was $150,000-$199,999 (30% of total sales), followed by the $200,000-$249,999 (20%) and the $250,000-$299,999 (18%). Average days on market for condominium sales was 49 days, 9 days off the pace set in 2014. The highest-priced condominium sale was $950,000. The least expensive sale was $57,000.

Looking ahead to 2016, Manitoba’s GDP is expected to increase to 2.3% which is an improvement over the expected increase of 2.0% in 2015. In keeping with one of the country’s best GDP’s, Manitoba’s employment is forecast to grow by 1.6% in 2015 and 1% in 2016. This will keep its unemployment rate below 6%. Manitoba had Canada’s second highest population increase of 1% in 2015.

“While we do have an abundance of listings to work our way through at the beginning of the year, the good news is Winnipeg’s and Manitoba’s economy is performing relatively well,” said MacKenzie. “A most recent survey by CIBC shows Manitobans are most confident about their state of finances so this is another positive indicator that they will continue to take advantage of an excellent selection of properties for sale at some of the most affordable prices in the country.”

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

For further information, contact Peter Squire at (204) 786-8854.

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November MLS® Sales Up 9%

RD Sales Pie Chart November 2015

 

 

 

 

 

 

 

 

 

 

 

PRESS RELEASE

December 4, 2015

For Immediate Release

BEST NOVEMBER ON RECORD AT OVER 900 SALES

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November MLS® Sales Up 9%

WINNIPEG – Mild weather, hosting the Grey Cup, being singled out as one of the best destinations in the world to visit by National Geographic Traveler magazine, or just having a an excellent supply of terrific listings to choose from with such favourable mortgage rates, it was the first time November nudged over 900 sales in WinnipegREALTORS® 112-year history.

Not surprisingly, dollar volume was at its highest level too for this month at nearly $245 million and with a month to go, it is virtually assured a new annual dollar volume record will be set around the $3.5 billion mark. November also set a record for the highest-priced residential-detached or single family property sold ever at $2.7 million. It is a spectacular home and acreage nestled along the Assiniboine River in St. Francois Xavier.

“We have said all along this year Winnipeg is a very stable real estate market with good fundamentals supporting it,” said WinnipegREALTORS® president David MacKenzie. “November’s strong result puts us in an advantageous position to beat out last year’s solid sales performance and usher in a new annual dollar record.”

November MLS® unit sales of 903 represent an increase of nearly 9% over November 2014 and are the highest on record for this month. Similarly, dollar volume of close to $245 million set a new November dollar volume record and was up 12% over November 2014. Year-to-date MLS® unit sales of 12,285 are up less than 1% while dollar volume of $3.3 billion has increased almost 3% over the same period in 2014.

Listing supply continues to be elevated with 4,377 available for sale at the end of November. This total is only a 5% increase over last year but is significantly more in percentage terms over some previous years when there were well under 3,000 properties for sale.

“Higher levels of listings, particularly in a property type where there are not as many sales each month, can put downward pressure on pricing given the heightened competition for buyers”, said MacKenzie. “This is why it is so important to talk to your REALTOR® about your property type in the context of the current market. Where do you price your property best based on supply, location and competition within your price range segment?”

The 5 months of MLS® listings supply available at this time tilts more towards a buyers’ market. As a result it puts more of a premium on vendors to do everything possible to place their property in its most positive light to sell given the stiff competition which exists.

As for the status of different MLS® property types heading in to the final month of the year, residential-detached or single family homes which represent 3 out of every 4 homes sold so far in 2015, are ahead 3% in sales activity and 2% in average sales price in comparison to the same period in 2014.  The average sale price is $294,973.

Condominiums which got off to a real slow start at the beginning of the year have recovered to some extent but are still off 11% from 2014. Their average sales price of $236,947 is down less than 1% from last year. Condos are the second most active MLS® property type with 12% of total market share.

An affordable alternative to single family and condominium properties is single-attached. They have increased nearly 8% in sales this year and experienced an average sale price rise of over 3%. Their average sales price is $226,860. This third most active MLS® property type only captures 3% of the total MLS® market. Vacant land sales are slightly lower in activity but similar in percentage terms.

The most active price range in November for residential-detached sales was $250,000- $299,999 (22% of sales), followed by the $200,000- $249,999 (18%) and $150,000 -$199,999 (12%) and $300,000-$349,999 (12%). Average days on market for residential-detached sales was 41 days, a week slower than November 2014. The highest-priced residential-detached sale was $2.7 million. The least expensive sale was $49,000.

The most active price range in November for condominiums was the $150,000-$199,999 (29% of sales), followed by the $100,000-$149,999 (19%) and the $250,000-$299,999 (18%). Average days on market for condos was 49 days, 3 days off the pace set in November 2014. The highest-priced condo sale was $587,932 and the lowest sale price was $101,000.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

For further information, contact Peter Squire at (204) 786-8854.

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SELLING your home in winter

Selling your home in the winter months does come with some unique challenges, but people buy and sell homes all year long!

Here are some tips to getting over the potential hurdles of selling your home in winter:

  • Shovel the snow for a great first impression – Make sure walkways, driveways and other areas where buyers may want to venture to view your home’s exterior are clear of snow. Also watch out for ice and sprinkle sand or another product of your choosing to avoids falls and injuries. Not able to remove the snow yourself? Ask your Realtor to connect you with a snow removal service.
  • Dispel the winter gloom with light! Let the light into your home by opening up all shutters or blinds. With the shorter days in winter, make sure the lights are on in your home to brighten things up. If you’re not available, arrange for a trusted neighbor, family member or friend to turn on the lights for showings.
  • Make potential buyers comfortable in your home by setting the thermostat. On a cold day especially, this will make them want to stay a little longer inside your home. Don’t make it feel like the tropics, but keeping your home between 20-25 degrees Celsius for showings is a good idea.
  • Make your home smell welcoming. It’s best to avoid synthetic sprays and plug-in air fresheners and opt for more natural options.
    • An hour before a showing or Open House, but some water to boil with a few cloves and cinnamon sticks and let it simmer.
    • Sprinkle baking soda before vacuuming.
    • Grind some citrus peel and ice cubes in the garburator.
    • Do some baking. Nothing is more inviting that the smell of fresh cookies or bread.
  • Make sure your home is clean. It’s also a good idea to depersonalize your home by removed family photos so that potential buyers can visualize themselves living there.
  • Demonstrate your home’s value. Make sure potential buyers know how your home is prepared for winter by providing utility bills and information any energy saving mechanicals and appliances. Also provide information about the windows, insulation, and don’t forget the winter fun. If your home is near winter recreation areas or facilities, include this information in your listing.
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WinnipegREALTORS(R) MLS(R) Market Release for October 2015

home sales RD Sales Pie Chart October 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

PRESS RELEASE

November 5, 2015

For Immediate Release

MLS® YEAR –TO – DATE SALES ON PAR WITH 2014

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October MLS® Sales Down Less Than 3%

WINNIPEG – With two months to go, it is too close to call whether this year’s sales activity can eke out a victory over 2015. The lead has changed a few times when comparing sales activity between 2015 and 2014. At present, 2014 regains the lead with a total of 11,391 versus 11,382 sales this year. Last year was WinnipegREALTORS® fifth highest sales year recorded at over 12,800 sales. It was a good year and only less than 2% off the best year in 2007.

On the other hand, MLS® dollar volume continues to set new records every year even if sales fall short of previous years.  2015 is no different.  Its $3.1 billion in MLS® sales transactions activity is up 2% over 2014. Listings entered on the MLS® for the first 10 months are 22,400, an 8% increase over 2014.

October MLS® sales of 1,084 represent a decrease of less than 3% from October 2014 while dollar volume of $283 million dropped a similar percentage to last October. New listings of over 1,800 in October were slightly more than what came on the market in October 2014.

“When you see some of the mixed sales results across the country such as Calgary’s sales being well off last year’s activity, I am pleased to say Winnipeg is holding its own,” said David MacKenzie, president of WinnipegREALTORS®.  “We should appreciate our economic fundamentals remain solid and this should give us reason to see us finish off well this year and feel confident going into 2016. Both Manitoba’s employment and population have increased in the first nine months.”

In CMHC’s most recent Fall 2015 Housing Market Outlook for Winnipeg and its surrounding rural municipalities, it indicates:

“Elevated levels of net migration will continue to have a positive impact on housing demand as new immigrants make their way into homeownership.  Adding to demand is a turnaround in employment in 2015 after the losses experienced in 2014. Gains in full time jobs, particularly among workers aged 25 to 44 who tend to be first time buyers and favour housing at the lower price points, will support resale growth.”

One area WinnipegREALTORS® will need to keep monitoring is the higher than usual supply of listings as it moves into slower months of sales activity.  Heading into November there are over 2,700 residential-detached properties and around 800 condominiums available for sale. In the second quarter where more brisk sales activity occurs, residential-detached active listings were as high as 3,301 while condominiums peaked at 983.

“Buyers are in an enviable position to take advantage of plentiful choice of listings in all of our MLS® property types,” said MacKenzie. “You need to be talking to a REALTOR® – the MLS® market expert – on what will best fit your needs according to your particular preferences and qualifications to meet financial obligations for the property you desire.”

A sign of a far more balanced market with healthy competition for buyers is only 6% of all residential-detached or single family homes sold at list price in October while 82% went for below and 12% went for above list price.  Nevertheless, the total residential-detached sales dollar volume in October represented 97% of the total dollar volume worth of listings sold.

The most active price range in October for residential-detached sales was $250,000-$299,999 (21% of sales), followed by the $200,000-$249.999 (20%) and $150,000-$199,999 (13%).  Average days on market for residential-detached sales was 35 days, 1 day faster than October 2014. The highest-priced residential-detached sale was $1,125,000. The least expensive sale was $18,000.

The busiest condo price ranges were the $250,000-$299,999 (22% of sales) and the $150,000-$199,999 (22% of sales), followed by the $200,000-$249,999 (19%). Average days on market for condominium sales was 47 days, a week off pace set in October 2014. The highest-priced condo sale was $599,900 and the lowest-priced sale was $88,000.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,880 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

For further information, contact Peter Squire at (204) 786-8854.

Read more...