** Article and all content has been written by Winnipeg Realtors and not Kelly Fernandez **


March Multiple Listing Service® Sales Up 8%
 
WINNIPEG - March finished off a strong first quarter of sales activity with 1,089 sales, an 8 % increase over March 2019. First quarter MLS® sales rose 12% over the same period in 2019. 
 
MLS® stands for the Multiple Listing Service®. It is a cooperative real estate selling system operated and promoted by WinnipegREALTORS® that includes an up to date inventory of listings from participating REALTORS®. 
 
 MLS® new listings entered on the market in March fell 2% in comparison to March 2019 but remained up nearly 6% for the first three months. Active listings or available listings at end of March of 4,723 remain above previous years with a 12% jump over the same time last year and the same percentage rise over the 5-year average.
 
“Our first quarter has been consistently solid every month,” said Catherine Schellenberg, president of WinnipegREALTORS®. “Buyers have been taking advantage of affordable prices with a wide choice and healthy supply of listings to choose from. This first quarter is one of the best starts on record for WinnipegREALTORS® but we know unprecedented times are upon us with public health being the highest priority now for Manitobans and Canadians.”

March sales activity exemplifies the vast range of sold prices within WinnipegREALTORS® market region. The highest single family sales price was a newly built 3,335 sq. ft. luxury home in the Waverly West MLS® area of southwest Winnipeg. It sold for $1,146,872. Sharply contrasting this sale is the lowest priced home which sold in Mariapolis in the RM of Lorne in south central Manitoba. This 1 and 3/4 storey 1920 built home sold for $13,000.
 
Speaking of single family home sales which performed exceptionally well in March with sales and a 15% increase over March 2019, the most active price ranges were the $250,000 to $299,999 and $300,000 to $349,999 ones. They represented 35% of total sales. Adding 23% more in sales activity were the $200,000 to $249,999 and $350,000 to $349,999 price ranges.
 
Condominium sales in March were only 6 short of the 139 units sold in March 2019. The most active price range for condominiums at 29% of total sales is from $150,000 to $199,999.Next most active at 20% is the $200,000 to $249,999 price range. The highest priced condo to sell in March was for $750,000.  It is a bungalow style condominium at nearly 2,000 sq. ft. located in Tuxedo.
 
Other MLS® property types to distinguish themselves for heightened sales activity in the first quarter compared to the same period in 2019 are single-attached, vacant land, vacant land with buildings, farm, commercial and mobile homes. Of these property types, only vacant land and vacant land with buildings showed gains in March owing in part to fast developing changes in our market.
 
“Going into the spring market which is normally the busiest time of our annual market cycles will be different in 2020,” said Schellenberg. “We have already noticed a slow-down in listing and sales activity the last week of March and this is totally understandable given everyone’s desire and the critical need to flatten the curve on COVID-19.”
Schellenberg added, “Our REALTOR® members are adjusting to new ways of transacting real estate in the present environment where Manitoba is in a state of emergency.
 
“You need to have a conversation with your REALTOR® on how to follow new protocols and best practices to ensure everyone stays safe” said Marina R. James, CEO of WinnipegREALTORS®. “Real estate services have been declared a critical service under a recent Public Health Order but we clearly recognize it is not business as usual.”
 
Since 1903, WinnipegREALTORS® has assisted its members in achieving high levels of excellence in organized real estate by providing superior tools and services that enhance and build a vibrant real estate industry. Representing just over 2,000 REALTORS® and other industry related professions active in Winnipeg and surrounding areas, WinnipegREALTORS® promotes the value of a REALTOR® and organized real estate. WinnipegREALTORS® provides its members with essential market information, professional development sessions, networking opportunities, marketing products, an effective industry voice and strong leadership to further their professional success.
 
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.
 
For further information, contact Peter Squire at (204) 786-8854. 
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** Article and all content has been written by Winnipeg Realtors and not Kelly Fernandez **


February continues upward climb with a 15% increase
 
WINNIPEG - MLS® sales activity in February replicated January’s 15% increase resulting in 837 sales. The extra day helped as the only other year to see sales rise above 800 in February was in the 2016 leap year. Dollar volume of $236 million was not as strong with a 10% increase over February 2019.
 
The over 1,700 new listings entered on MLS® is an indicator of early year enthusiasm as are up 18% over the same month last year. This keeps the local market well supplied with 4,266 active listings available for sale in March. The big difference from year to year is in residential-detached listings as they rose 22% over February 2019 while condominium listings entered were slightly down.
 
As a result, total MLS® inventory is sitting at just over 5 months based on current sales activity.
 
“It is important to keep in mind some of the spike in residential-detached listings this year is attributable to WinnipegREALTORS® 2019 expansion into rural areas outside Winnipeg which did not fully materialize until later in the year” said Catherine Schellenberg, president of WinnipegREALTORS®. “Listings entered for first 2 months outside Winnipeg were up 23% while listings inside the city rose 7%.”
 
One MLS® area within Winnipeg which is seeing a significant increase in residential-detached listings this year is Waverley West and that is due in part to its continued growth in new communities such as South Pointe. There have been 148 listings entered for the first two months compared to 119 for the same period in 2019.
 
Many MLS® property types experienced increases in February with condo sales activity rebounding with an 8% increase after a slow start in January. Vacant land and vacant land with buildings are both performing exceptionally well in comparison to last year. The 44 vacant land sales in February resulted in a 63% increase over February 2019.
 
Housing affordability is a real strength of WinnipegREALTORS® market region. The latest from National Bank’s Housing Affordability Monitor based on the fourth quarter 2019 indicates only Vancouver and Winnipeg saw income increase faster than housing prices during this quarter. In Winnipeg’s case, an income of $68,780 allows you to buy a median priced home of $324,094 while an income of $47,793 is enough to buy a median priced condo at $225,203.
 
Winnipeg’s North End, which encompasses three MLS® areas, showed improvement in residential-detached sales after being negatively impacted the last few years by the mortgage stress test. Sales in February doubled the number sold in February 2019.
 
This bodes well heading into the spring, In light of the federal government announcing recently that they will be adjusting the mortgage stress test for insured mortgages on April 6 to be more responsive and align with the median five-year fixed insured mortgage rate from mortgage insurance applications plus two percentage points. This new qualifying rate will be lower than the Bank of Canada’s five-year benchmark qualifying rate.
 
Speaking of the Bank of Canada, the overnight lending rate was lowered this week by half a percentage point from 1.75 per cent to 1.25 per cent. This is on the heels of other major countries lowering their rates with the US Federal Reserve dropping its interest rate by half a percentage point too.
 
Our local market’s high level of affordability relative to other major housing markets positions home buyers well to take advantage of any further developments to lower mortgage costs. It opens up more buyers to the opportunity to purchase a home,” said Schellenberg.
 
“If you are selling in what is a competitive housing market, you need to be talking to your REALTOR®,” said Marina R. James, CEO of WinnipegREALTORS®. “REALTORS® have the knowledge and expertise to develop a strategy to sell your home or purchase residential or commercial real estate.”
 
Since 1903, WinnipegREALTORS® has assisted its members in achieving high levels of excellence in organized real estate by providing superior tools and services that enhance and build a vibrant real estate industry. Representing just over 2,000 REALTORS® and other industry related professions active in the Winnipeg metropolitan area, WinnipegREALTORS® promotes the value of a REALTOR® and organized real estate. WinnipegREALTORS® provides its members with essential market information, professional development sessions, networking opportunities, marketing products, an effective industry voice and strong leadership to further their professional success.
 
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.
 
For further information, contact Peter Squire at (204) 786-8854. 
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** Article and all content has been written by Winnipeg Realtors and not Kelly Fernandez **

2020 Starts Strong with 731 MLS® Sales in January
 
WINNIPEG - 2020 got off to a strong start with 731 MLS® sales, a 15% increase over January 2019 and 18% more than the 5-year average total. Dollar volume rose 18% to $207.4 million. The 1,870 listings entered on MLS® in January were up less than 5% and at month end there were 4,002 listings available for sale, nearly 7% higher than last year.
 
“Positive momentum from the end of 2019 continues in 2020 with brisk sales for this time of year,” said Catherine Schellenberg, president of WinnipegREALTORS®. “Helping kick start 2020 are very favourable mortgage rates with 5-year fixed residential mortgage rates available for under 3%.”

Affordability is a real strength in the WinnipegREALTORS® market region and makes the dream of homeownership possible. Over half of all detached homes and condominiums are listed below $300,000 and another 20% are listed from $300,000 to $400,000.
 
The flight to affordability was born out in January with 55% of the 511 detached home sales selling for under $300,000 and another 23% successfully transacted from $300,000 to $399,999. There were still gains in upper end market activity this January compared to the same month last year. It was punctuated by two detached homes each selling for over one million dollars.
 
Proof that all MLS® areas within a local market do not all perform the same is the St. James MLS® area in West Winnipeg. It stood out in January with a very high conversion rate of 90% of detached home sales to listings (19 out of 21). It also had one of the highest detached home sales totals of any MLS® area and resulted in the highest ratio of sales to active listings (19 sales versus 14 active listings at month end).
 
Of the 70 condominium sales, 85% of them sold for under $300,000 with the most active price range being from $100,000 to $149,999 at 20% of total sales. The highest condo price to sell in January was $589,900.
 
It is worth noting that single-attached properties which saw double-digit growth in sales activity last year recorded 44 sales in January, a 42% spike in sales from January 2019. Commercial properties also shone in comparison to last January with 23 sales and one mixed use commercial building selling for $2.6 million. 
 
“Lots of choice and options for buyers in 2020 and that will prevail in February and into the spring, “said Schellenberg. “ This is in stark contrast to a number of other housing markets in the country where they are concerned about a housing supply shortage.” 
 
“Variations exist within local markets depending on the property type, price range and MLS® area you are interested in.” said Marina R. James. “Your REALTOR® is available and ready to help you understand your specific real estate needs in the current marketplace.”
 
Since 1903, WinnipegREALTORS® has assisted its members in achieving high levels of excellence in organized real estate by providing superior tools and services that enhance and build a vibrant real estate industry. Representing just over 2,000 REALTORS® and other industry related professions active in the Winnipeg metropolitan area, WinnipegREALTORS® promotes the value of a REALTOR® and organized real estate. WinnipegREALTORS® provides its members with essential market information, professional development sessions, networking opportunities, marketing products, an effective industry voice and strong leadership to further their professional success.
 
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.
 
For further information, contact Peter Squire at (204) 786-8854. 
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To get the best return on your home, you

need to make your home look its best.

Here’s the checklist that will help you do it


I am a HUGE fan of checklists! Here is a handy checklist for you in order to help get your home Market Ready! Make your home look and feel like a show home and put your very best foot forward to all potentail buyers! Remember, we get ONE chance to make an amazing first impression! 




Inside your home


Floor coverings

(carpeting, tile, linoleum, hardwood, etc.)

  • Dirt or stains?
  • Excessive wear or damage?
  • Area rugs clean and stain-free?

Walls and ceilings

  • Dirt, fingerprints or other stains?
  • Nail or thumb-crack holes, tape residue?
  • Cracks, chips, water damage?
  • Need for repainting or new wallpaper?
  • Neutral, light colours for roomy environment?

Doors

  • Dirt, fingerprints or other stains?
  • Need new paint?
  • Open/close easily without squeaks?
  • Latches/handles secure and working properly?

Windows

  • Glass sparkling clean/chip- and crack-free?
  • Open/close easily?
  • Latches/handles/locks secure, working properly?
  • Dirt and fingerprints on frames or sills?
  • Screens clean and without holes?
  • Storm windows in good condition?

Window coverings

(curtains, drapes, blinds, etc.)

  • Dirt or stains?
  • Excessive wear or sun damage?
  • Open/close easily, hardware working properly?

Lighting

(lighting makes a room feel more inviting)

  • All bulbs working and proper wattage?
  • Broken switches, exposed wiring?
  • Table and floor lamps working properly?

Pet areas

  • Clean, organized, odour-free?

Entryways and hallways

  • Clean and free of clutter or obstructions?
  • Welcome mat(s) clean and inviting?
  • Closets and storage areas
  • Clean and well organized?
  • Clutter and excess junk removed?
  • Clothes hung neatly and not jammed together?
  • Shoes and boots neatly stored/stacked?

Kitchen

  • Every surface sparkling clean?
  • Countertops organized, all but daily use appliances?
  • Refrigerator spotless inside and out?
  • Organized? Spoiled food discarded?
  • Frost removed? Light bulbs working? (Buyers look!)
  • Oven/stovetop clean? Burner trays cleaned?
  • Sinks clean; faucets working properly and leak-free?
  • Garbage disposal in good working condition?
  • Cupboards/pantry spotless, organized?
  • Dishwasher clean and stain-free?

Living room, dining room,

bedrooms, den and study

  • Everything thoroughly vacuumed/dusted?
  • Excess furniture removed for roomier atmosphere?
  • Remaining furniture clean and in good repair?
  • Wood and other surfaces clean and polished?
  • Bookshelves neat, organized and clutter-free?
  • Children’s games/toys stored neatly?
  • Fragile items removed and stored?
  • Smaller valuables removed/locked away?
  • Window coverings open for views and sunlight?
  • Mirrors clean and in good repair?
  • Ashtrays cleaned and kept out of sight?
  • Fireplace clean, logs/kindling stacked neatly?

Bathrooms/powder room

  • Every surface sparkling clean?
  • Countertops organized, free of clutter? Fresh soap?
  • Sinks spotlessly clean, faucets working properly?
  • Tub and shower surfaces clean?
  • Towels stain-free and hanging neatly?
  • Shower curtain clean and in good repair?
  • Toilet extra-clean and working properly?
  • Closets organized and clutter-free?
  • Medicine cabinet clean, “personal items” removed?

Basement, furnace room,

garage, attic storeroom

  • Clean and well-organized?
  • Clutter and excess “junk” removed?
  • Remaining items stored/stacked neatly?
  • Everything thoroughly vacuumed/dusted?

Outside your home


Structures

  • Exterior surfaces clean, in good condition?
  • Front-door exterior clean, inviting?
  • Eavestroughs and downspouts clean, in good repair?
  • Gates open/close properly, hardware working?
  • Fences/decks in good repair, in good condition?
  • Sidewalks and walkways in good repair?
  • Driveway clean, in good repair?

Yard and environment

  • Driveways, sidewalks clear of snow, ice?
  • Lawns mowed/edged regularly?
  • Large bare spots repaired?
  • Leaves removed from lawns and flower beds?
  • Trees pruned, hedges trimmed?
  • Flower beds weeded and tidy; dead plants replaced?
  • “Junk” and scrap removed?
  • Lawn furniture clean, organized, good repair?
  • Bicycles, children’s toys stored neatly, out of way?
  • Firewood organized and neatly stacked?
  • Dog runs secure, yard free of “doggy deposits”?


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