Kelly Fernandez : Realty Executives First Choice : : page 2

WinnipegREALTORS® MLS® Market Release for July 2020

Posted on August 24, 2020 by Kelly Fernandez

WinnipegREALTORS® MLS® Market Release for July 2020

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

June MLS® sales spring back to pave way for recovery

WINNIPEG - On record for the first time, WinnipegREALTORS^® market region experienced consecutive months for top monthly MLS^® sales. July MLS^® sales are 1,898 compared to 1,897 in June which outpaced the previous record month in May 2019 of 1,705 sales.

July 2020 MLS^® sales are up 32% over July 2019 while dollar volume ($596.1 million) is up 36% over July 2019. Year-to-date MLS^® sales of 8,672 is 5% ahead of the same period last year and the dollar volume reached $2.61 billion in the first 7 months or a 7% increase over last year.

“We are witnessing a very different market this year, with the record month in July bringing us beyond our year-to-date sales in 2019,” said Catherine Schellenberg, president of WinnipegREALTORS^®. “While WinnipegREALTORS^® forecasted another strong year following a successful 2019 with an expanded rural area, we did not expect such a significant recovery from the drop off in April and May sales activity due to the economic shutdown.”

MLS^® listings on the other hand, have not had the same v-shaped recovery as sales in the last two months. They have a bigger deficit to bounce back from, given the drop off in April (-42%) and May (-21%). In July, new listings entered on the MLS^® were down 9% from July 2019 (down 10.9% year-to-date) leaving current inventory heading into August at 4,408, or a 27% decrease from 2019 and 15% from the 5-year average at this time of year.

“Less inventory suggests sellers have been reluctant to participate in our real estate market as opposed to buyers, which has created inventory shortages in a number of MLS^® areas,” said Schellenberg. “This market change has resulted in multiple offer situations,” said Schellenberg.

Over 31% of single family detached home sales in July sold for over list price – nearly doubling the percentage of above list price sales in July 2019. July’s demand for all single family detached listings was brisk with total sales volume close to equaling total listing volume.

July single family home sales equaled 88% of the new single-family listings entered this month. The single family homes sales-to-listings ratio for the first 7 months is 65% or 10 percentage points higher for the same period last year.

Single family is singled out as this leading MLS^® property type with almost a 73% market share achieved its highest monthly July sales total. With 1,374 sales and a 65/35 split between Winnipeg and outlying rural areas, the dollar volume total of $485 million puts the year-to-date dollar volume to over $2 billion for the first 7 months of this year.

Another first in our market is the most active price range moved up to the $300,000 to $349,999 with nearly 18% of total sales, replacing the $250,000 to $299,999 range which had 15.5% share of total sales. The third most active price range was from $350,000 to $399,999 at 13%.

Helping push the average single family home price of $353,450 up 9% from July 2019 is the 7 million dollar plus in sales. Contributing to this, was a premium luxury home which sold for $2.9 million, the highest price recorded on WinnipegREALTORS^® MLS^® market region.

For July, condos did not have the highest average sales this year, however the 223 sales reduced the year-to-date decline from 18% last month to 10% at the end of July. Nearly 65% of condos sold in three price ranges from $150,000 to $299,999.

Other property types outpacing 2019 sales are resort properties, vacant lots and vacant lots with buildings. Their respective year-to-date increases over 2019 in July are 57%, 38% and 73%.

“Our local market continues to show a strong recovery with buyers taking advantage of historically low interest rates and some of the most affordable house prices in the country,” said Schellenberg. “The shift to a tighter housing market means more potential multiple offer situations so you need to be working closely with your REALTOR^®.”

“REALTORS^® are professional and informed,” said Marina R. James, CEO of WinnipegREALTORS^®. “Your REALTOR^® operates in an ever-changing real estate industry with new technology, regulatory changes and most importantly, market conditions. REALTORS^® know the local market and can help their clients through the buying and selling process.”

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 over 2,000 REALTORS® and other industry-related professions active in Winnipeg and its surrounding areas, WinnipegREALTORS® exists to provide services and resources for Members to ensure a high standard of business practices and ethics. WinnipegREALTORS® is recognized as the voice and our Members as the experts in the real estate market.

The MLS® is a co-operative real estate selling system operated and promoted by WinnipegREALTORS® that includes an up to date inventory of listings from participating REALTORS®.

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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WinnipegREALTORS® MLS® Market Release for June 2020

Posted on July 30, 2020 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for June 2020

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

June MLS® sales spring back to pave way for recovery

WINNIPEG - June sales activity took a major step forward towards bringing year-to-date sales back to last year’s total. Multiple Listing Service® sales in June of 1,897 increased 24% over the same month in 2019 and 15% over the 5-year June average. This monthly sales total of just fewer than 1,900 succeeds the previous best month on record in May 2019 when there were 1,705 sales.

Year-to-date sales at the mid-way point of the year are 6,779, less than 1% or 44 unit sales behind the same period in 2019, and 1% below the 5-year average of 6,865 sales.

“Our sales recovery which began in the second half of May confirms Manitobans are feeling confident in transacting in WinnipegREALTORS® market region,” said Catherine Schellenberg, president of WinnipegREALTORS®. “I give credit to all Manitobans who are doing their part to follow social (physical) distancing protocols and a special note of thanks to essential workers.”

Backing up the record-setting June sales numbers is a public poll Probe Research conducted early June on behalf of the Manitoba Real Estate Association and WinnipegREALTORS®. According to the survey, only one in ten Manitobans (11%) say they are now less likely to purchase a home because of COVID-19, with the vast majority (84%) saying the pandemic has no bearing on their homebuying intentions and a small number (4%) saying they are more likely to buy a home now.

Listings have not come back as quickly as sales. New listings entered on the MLS® in June equalled June 2019 so they are returning to normal but not catching up with the significant deficit created in April and May. Active listings at the end of June are down 22% from the same time in 2019.

“We have a reduced inventory compared to the last few years with 3 months available if no new listings were to come on to our market based on current sales activity,” said Schellenberg. “There are a number of Winnipeg neighbourhoods in particular with fewer residential-detached listings and very high sales to active listings ratios. For example, in the MLS® area immediately south and east of St. Vital Shopping Centre, the ratio is 550% while the East Kildonan MLS® area is 367%.”

This current market situation translated into more showings with multiple offers leading to 29% of residential-detached sales going for above list price. It was at 23% in June 2019. The total dollar volume of all residential-detached sales versus their respective listing dollar volume in June was 99.3%. This metric represents strong demand for housing.

The percentage of above list price condo sales held their own with June 2019 at 13%.

June average sale prices for residential-detached and condominium property types were higher than June 2019. The residential-detached average sales price of $340,085 was up 1.5% while the condo average sale price of $257,961 increased 5.4%.

Both residential-detached and condominium June sales saw double digit sales percentages spread over 5 price ranges. Residential-detached sales went from $200,000 to $449,999 with the $300,000 to $349,999 price range edging out the next lower one at 17% of total sales. There were 5 million dollar plus sales with the highest selling for $2,250,000.

Condo sales were most prevalent in price ranges from $100,000 to $349,999 with the $150,000 to $199,999 dominant at 23% of total sales. The 13% of sales recorded from $300,000 to $349,999 is notable since this price range with few exceptions has never attained a double digit percentage share of the total.

This chart shows how prices are faring for the 6 main MLS® zones WinnipegREALTORS® tracks throughout the year. For the first six months, the southwest zone’s average residential-detached price increased over $11,000 from $435,430 in 2019 to $446,598 in 2020. Other MLS® zones have seen more modest increases with the west and rural zone seeing very modest decreases. The market region year-to-date average residential-detached sale price is $328,172, down one-half a percentage point from 2019.

In terms of sales generated in these MLS® zones for the first half of 2020, rural comprises by far the largest percentage at 33% with the southwest zone next at 17% of total sales.

“Resiliency is the word that comes to mind with respect to our real estate market upon reflecting on the first half of 2020,” said Schellenberg. “Manitobans put great value in the importance of home ownership and are showing it by their actions this year.”

“REALTORS® are the experts when it comes to utilizing monthly market statistics to assist both buyers and sellers with real estate market intelligence and trends in the local market,” said Marina R. James, CEO of WinnipegREALTORS®.

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WinnipegREALTORS® MLS® Market Release for May 2020

Posted on June 17, 2020 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for May 2020

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

May Multiple Listing Service® sales decrease 19%

WINNIPEG - Sales of 1,377 decreased 19% in May compared to the same month last year while just over $400 million worth of dollar volume transactions fell 23% compared to May 2019. The 2,428 new listings entered in May were down 21% from last year. There are still 4,621 listings available for sale in June.

“May market activity was clearly impacted by COVID-19 at the outset of May with MLS® sales down similar to the 30% drop off in April sales by mid-month,” said Catherine Schellenberg, president of WinnipegREALTORS®. “It is worth noting however that recovery took hold in the second half of the month with sales from May 20-26th actually outpacing the number recorded the same week in May 2019. Listings also saw an improvement over April with the percentage decline cut in half.”

Year-to-date MLS® sales are at 4,884, less than 8% off the pace set in 2019 while dollar volume of $1.44 billion is down close to 10% from the same period last year. 50% or one in two listings have sold this year and that is higher than 2019 when 47% of total MLS® listings sold.

With the exception of condominiums where COVID-19 has created a deeper setback in sales, for those sellers and buyers engaged in the market, many performance metrics are in line with May 2019. Residential-detached homes had slightly more above list price sales at 24% than last May and price levels trended higher based on CREA’s MLS® Home Price Index prices. The equivalent of 64% of new listings entered in May sold and this compares favourably to 63% in 2019 and 59% in 2018.

“To use a sports analogy, and why not hockey, since our Winnipeg Jets may well be playing again this year, you have less participants in the market due to reasons we all know, yet the ones in the lines you put on the ice are delivering similar results,” said Schellenberg.

Speaking of less numbers on what is normally the busiest time of year, residential-detached home listing inventory is thin in a number of Winnipeg MLS® areas. A return to more typical spring market conditions in June with a good injection of new listings coming on the market will be welcome.

There are too many neighbourhoods spread throughout the city to mention. The common denominator for most is having more sales in May than listings remaining at month end. Waverley Heights for example had 6 sales in May with only 3 listings available for sale going into June while St. Norbert had 6 sales too with only 2 listings for sale this month.

While Winnipeg had the tightest market conditions for residential-detached homes in comparison to the outlying rural MLS® areas, the latter represented nearly 36% of total residential-detached sales.

“This month in particular shows the extent of WinnipegREALTORS® market region beyond Winnipeg with residential-detached sales gaining an increasing market share of total sales,” said Schellenberg. She added, “Vacant lot sales which are experiencing double-digit percentage increases this year are largely rural in make-up with only 3 of the 68 lots sold in May located in Winnipeg.”

Residential-detached sales decreased 18% from May 2019 while condominiums saw a decline of 41% compared to the same month last year.

35% of residential-detached sales were equally divided between the $250,000 to $299,999 and the $300,000 to $349,999 price ranges with another 13% occurring from $200,000 to $249,999. 5 sales went for over $1 million with the highest selling for $1,525,000. The lowest sale price was $15,000.

The most active price range for condominium sales was from $200,000 to $249,999 at 23%. Just slightly behind was the $100,000 to $149,999 price range at 22%. The usually most active price range of $150,000 to $199,999 was third at 18% of total sales. The highest sale price for condos in May was $488,920.

“As we are now in the second phase of reopening Manitoba’s economy, REALTORS® will continue to follow and adhere to Manitoba health directives and safe practices to ensure buyers and sellers can transact safely,” said Schellenberg.

“All markets are local and can vary within a market as large and diverse as WinnipegREALTORS® market region,” said Marina R. James, CEO of WinnipegREALTORS®. “You need to be talking to your REALTOR® about how your particular real estate needs can be met to your satisfaction.”

The MLS® is a co-operative real estate selling system operated and promoted by WinnipegREALTORS® that includes an up to date inventory of listings from participating REALTORS®.

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WinnipegREALTORS® MLS® Market Release for March 2020

Posted on April 5, 2020 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for March 2020

** 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.

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

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WinnipegREALTORS® MLS® Market Release for February 2020

Posted on April 5, 2020 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for February 2020

** 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.

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

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WinnipegREALTORS® MLS® Market Release for January 2020

Posted on April 4, 2020 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for January 2020

** 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.

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

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Is Your Home Market Ready?

Posted on April 2, 2020 by Kelly Fernandez

Posted in Selling

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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WinnipegREALTORS® MLS® Market Release for December 2019

Posted on January 13, 2020 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for December 2019

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

December to remember brings a successful 2019 to a great close

WINNIPEG - December sales of 674 were exceptional — up 25% over the same month in 2018 and 8% above the 5-year average. As a result, activity this month propel year-end sales to the highest level on record at 13,662, a 7% increase over 2018 and slightly ahead of the 13,632 MLS^® sales transacted in 2016.

Similarly, December’s impressive dollar volume of close to $200 million pushed the year-end dollar volume total over the $4 billion threshold level for the first time. Dollar volume in 2019 of $4.059 billion rose over 7% compared to 2018.

Last year also ushered in the highest number of listings entered on WinnipegREALTORS^® MLS^®. The 25,741 listings increased 8% over 2018 and 6% above the 5-year average. The percentage of MLS^®listings selling or what is referred to as the sales-to-listings ratio is still within 2% of the 5-year average. Notable in 2019 is that residential-detached listings sold, on average, for 98% of their list price.

“December market results are not only indicative of a strong second half to 2019 but a very active year as a whole,” said Kenneth Clark, outgoing president of WinnipegREALTORS^®. “Buyers in particular benefited from a healthy supply of listings and sales gains across most MLS^® property types show they were actively engaged in the 2019 real estate market.”

It is important to note 2019 saw an increase in overall MLS^® activity as a result of welcoming new rural brokerage offices, such as ones in the South Central Plains MLS^® area (e.g. Winkler, Morden and Altona), onto the WinnipegREALTORS^® MLS^®. They formerly had been on the Manitoba Real Estate Association (MREA) MLS^®. As they were main contributors to MREA’s MLS^® market activity in previous years, their contribution to WinnipegREALTORS^®’ MLS^® in 2019 was instrumental in generating higher listings, sales and dollar volume totals.

The city of Winnipeg remains the dominant selling area within WinnipegREALTORS^® market region with 71% of residential-detached and nearly 85% of condominium sales. However, when it comes to vacant lot sales, of which there were 502 in 2019, rural MLS^® areas dominate with over 90% of total sales.

WinnipegREALTORS^® market region showed very little change in average 2019 residential-detached and condominium sale prices in comparison to 2018. The 2019 average residential-detached sales price was $324,122 versus $321,945 in 2018. Condominiums showed less than a $1,000 difference with a slight decrease from $238,916 in 2019 to $238,088 in 2018.

Speaking of the main MLS^® zones within Winnipeg and those many MLS^®rural areas outside Winnipeg, average residential-detached sale prices in 2019 were remarkably similar to 2018. The biggest gain at 3.5% was the Winnipeg west MLS^® zone (north of Assiniboine River). It went from $251,588 in 2018 to $260,453 in 2019. The only decrease was in the rural MLS^® zone which saw its average sales price drop from $308,320 to $305,035. The highest average sales price is in the southwest Winnipeg MLS^® zone at $426,573.

As for sales, the rural MLS^® zone saw a 16% jump in sales activity due primarily to the significant increase in activity in the South Central Plains MLS^® area on WinnipegREALTORS^®’ MLS^®. The only drop in sales activity was in the Winnipeg west MLS^® zone. It was a very modest 2.6%.

For the two main property types, residential-detached and condominiums, total sales were up 5% and 7% respectively compared to last year. There were 9,788 residential-detached sales and 1,750 condo sales. While representing less than 5% of total MLS^® market share, single-attached properties really stood out in 2019 with 640 sales, a 24% increase over 2018.

Affordability remains firmly intact as nearly three out of four condominium sales in 2019 were at prices under $300,000, whereas 76% of residential-detached sold for under $400,000 with nearly one in two selling for under $300,000.

The highest residential-detached home to sell in 2019 was for $2,290,000, while the most expensive condominium to sell was $1,300,000.

“2019 is testimony to our hard-working REALTORS^® really stepping up to lead WinnipegREALTORS^® to a record number of transactions,” said Marina R. James, CEO of WinnipegREALTORS^®. “REALTORS^® expertise and knowledge came to the fore in making a listing stand out in what has been a very competitive marketplace this year.”

For more information and insights on the local market and what lies ahead in 2020, WinnipegREALTORS^® is proud to be hosting its annual Forecast Breakfast on Wednesday, January 29. The high impact event will shed more light and details on what may happen in the local housing and commercial market in 2020. Headlining this very informative breakfast is BMO Chief Economist Douglas Porter. The theme this year is 2020 Vision and all presenters will look ahead to our next decade.

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WinnipegREALTORS® MLS® Market Release for November 2019

Posted on December 5, 2019 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for November 2019

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

November MLS® Activity Maintains Strong Pace in 2019

WINNIPEG - November sales, dollar volume and listings contributed to a strong second half finish to 2019.

November’s 902 sales transacted on WinnipegREALTORS® MLS® were up 4% over November 2018 and on record to be the second time sales eclipsed 900 in this month. Dollar volume of $270.8 million is the highest for the month of November and increased nearly 10% over November 2018.

Listings continue their record-setting pace this year with an 18% increase over November 2018 in new listings coming to market. Active listings or inventory at the end of November is sitting at 21% above last year with over 5,000 listings available for sale.

“Manitobans are actively engaged in our real estate market this year given the extent of MLS® listing and sales activity we are experiencing,” said Kenneth Clark, president of WinnipegREALTORS®. “The recovery we predicted in 2019 over 2018 has come to fruition.”

Year-to-date sales of 12,988 are up 6% over the same period of time in 2018 and already ahead of last year’s annual total. Depending on how December 2019 concludes, a new sales record is conceivable. Year-to date sales are 27 sales behind the best year on record for the first 11 months in 2016.

Year-to-date dollar volume of $3.86 billion, which is 7% higher than last year and with only a month to go, is on pace to set a new annual dollar volume record.

“Seeing the number of REALTOR® members grow this year with more activity of members in rural areas where we have not been as active in previous years is helping make 2019 a banner year”, said Clark.

Improvement in sales over 2018 has not only been in residential-detached and condominiums which make up 85% of all MLS® sales, but other property types have enjoyed stellar performances such as single-attached properties with over 600 sales and close to a 5% share of total MLS® sales. Vacant land sales have also done well with 466 sales. Duplex sales are up 20% over 2018 with 187 sales.

Speaking of residential-detached sales, the November average sales price of $327,485 was skewed higher than normal with 8 sales that were one million or higher compared to 4 last November. There were also 65 sales of $500,000 or higher in 2019 compared to 47 in 2018.

Similarly, the November average condominium sales price of $249,681 was skewed higher with a $1 million plus sale and 9 sales of half a million or more compared to 3 in November 2018.

The most active price range for residential-detached sales in November was from $250,000 to $299,999 at 24% while condominiums were busiest from $150,000 to $199,999 at 26%.

“While too big to fit under your tree, looking for a property to buy in the festive season has never been better,” said Clark. “So many options to choose from and our local market delivers great value on a wide price range of MLS® properties.”

“Tis the season to be buying so if you find yourself in the market for a home, you need to be contacting your REALTOR®”, said Marina R. James, CEO of WinnipegREALTORS®. “REALTORS® are local market experts who can guide you through the entire process and find the home right for you.”

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WinnipegREALTORS® MLS® Market Release for October 2019

Posted on November 27, 2019 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for October 2019

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

Brisk October MLS® Sales Continue Third Quarter Momentum

WINNIPEG - October sales of 1,173 increased 6% over October 2018 and are the same percentage above the 5-year sales average for this month. October dollar volume of close to $342 million resulted in an increase of less than 4% over the same month in 2018.

Active listings or current inventory of 5,419 remain elevated over last year at this time. They are up 18%. New listings entered on the MLS® in October of 1,958 rose 6% over October 2018. This is a more modest increase in listings compared to double-digit increases every month in the third quarter.

“We are starting to see adjustments in new listings activity to be more in line with last year,” said Ken Clark, president of WinnipegREALTORS®. “The healthy supply of listings we are enjoying this year is contributing to strong sales as buyers take advantage of our wide selection of offerings.”

Rural single family sales are taking a larger market share as represented 31% of total sales in September and October. This compares to 28% and 26% for the same months in 2018.

Year-to-date MLS® market activity totals 12,086 sales, a 6% increase over the same period last year and now places WinnipegREALTORS® in a position to reach its highest annual sales level ever. Only the record year of 2016 has 52 more sales in the first 10 months. Year-to-date dollar volume at close to $3.6 billion is ahead of last year by 7% and is on pace to set a new all-time high for the Winnipeg Metro Region.

In terms of prices, the greater listings supply has made it more competitive and affordable for buyers. In October the vast majority or percentage of listings sold at or below list price for both single family (87%) and condominium (93%) property types. As a consequence, the average residential-detached or single family house sales price of $315,889 this October is down 2.7% from the same month last year while the condominium average sales price of $227,878 is down 2.8%.

60% of total single family house sales occurred from $200,000 to $399,999 with the most active price range accounting for 22% of sales being from $250,000 to $299,999. For condominiums, 51% of total sales were from $150,000 to $249,999 with the $150,000 to $199,999 price range most active at 28%.

The highest sale price in October for the single family property type was $1,250,000 while the most expensive condominium sale was $612,037.

“For all the talk of keeping the mortgage stress test and the current amortization period of 25 years for insured mortgages intact (e.g. concern over higher house prices), it should not be lost on Canadians how different regional markets are from coast to coast,” said Clark. ““WinnipegREALTORS® housing market is much better supplied than a number of other housing markets throughout the country.”

“ We are committed to supporting our over 1,940 REALTORS® with the digital tools and services necessary for them to stay up-to-date and deliver superior services through the buying and selling process,” said Marina R. James, CEO of Winnipeg REALTORS®.

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WinnipegREALTORS® MLS® Market Release for September 2019

Posted on November 27, 2019 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for September 2019

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

September caps off a resurgent third quarter

WINNIPEG - WinnipegREALTORS® experienced its strongest third quarter of market activity on record with close to 4,100 MLS® sales worth 1.19 billion dollars. Each of the three months had their highest dollar volume totals ever for their respective months. A new sales record was also set for the month of August while July and September were right at the top.

As a result of this marked improvement in third quarter market activity over 2018, year-to-date sales are up 6% with 10,913 sales while dollar volume of $3.25 billion has increased 7% over the first nine months in 2018. This now places 2019 within less than 1% of the best years on record in 2016 and 2017 with respect to sales and the highest dollar volume of any previous year with three months to go.

September sales of 1,211 are ahead of the same month last year by 16% and only 4 sales shy of the best September on record in 2016. Dollar volume was up 16% too at close to $350 million.

It is worth noting that single-attached and duplex properties are showing double-digit sales percentage increases over last year as are up 17% and 27% respectively after nine months. 53 single-attached properties sold in September, a 43% increase over September 2018.

Another development more pronounced in the third quarter this year is the double-digit percentage increase in new listings each month over the same month in 2018.

In September, new listings coming on the market rose 10% to 2,365. So despite the impressive sales this month inventory remaining for sale going into October is over 6,000 listings as was the case at the end of August. This means that one out of five listings sold in September.

“Good economic fundamentals, growth in our membership and market region well beyond Winnipeg, a healthy listing supply and favourable mortgage rates despite tougher qualifications rules, is behind the impressive market activity we have had this third quarter,” said Ken Clark, president of WinnipegREALTORS®. “However, it is important to keep in mind and be attentive to just how competitive the current market is with so many listings for buyers to choose from.”

Due to the elevated supply in listings this year prices are being held in check. The year-to-date average single family home sales price is $325,215 ($322,828 in 2018) while the year-to-date average condo sales price is $3238, 820 ($239,877 in 2018). The percentage of listings selling at or above list price for single family homes this year is just over 27% while condominiums are at 21%.

Affordability remains a defining feature of the local market with more than one in two single family homes and 76% of condos selling in September for under $300,000. In a recent survey reported in The Canadian Press on affordability of Canadian cities by Forum Research, its President Lorne Bozinoff said, “ When it comes to mortgages Winnipeggers are paying amongst the lowest proportion of their income every month.”

“When there are as many listings as we currently have on the market that means there are also many sellers looking to buy another property within our local market,” said Clark. “This bodes well for continued strong sales activity into the fourth quarter.”

“All real estate markets are local and then some in terms of differences within their market region,” said WinnipegREALTORS® CEO Marina R. James. “You need to hire a REALTOR® who has the knowledge and expertise to educate you on how you can best navigate your specific real estate need.”

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WinnipegREALTORS® MLS® Market Release for August 2019

Posted on September 12, 2019 by Kelly Fernandez

Posted in Winnipeg MLS Market Release

WinnipegREALTORS® MLS® Market Release for August 2019

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

Condo sales propel August to a record month

WINNIPEG - A record month of sales and dollar volume activity for August capped off a very active summer. July and August were identical twins when it came to sales. However dollar volume differed with lower dollar volume in August due in part to condominium sales activity showing much larger gains than single family.

August MLS® sales of 1,439 were up 13% over August 2018 and rose 9% above the five-year average for this month. The highest previous month of sales activity for August was 1,350 sales in 2016. August dollar volume of $411 million resulted in close to a 10% gain over the same month last year. It is the first time August dollar volume has eclipsed the $400 million mark.

The real highlight of August 2019 was the 37% increase in condominium sales over August 2018. The 199 sales are 19% higher than the five-year average for this month and a few sales below the best condo month sales performances ever for the Winnipeg Metro Region.

With the exception of 9 new condo sales in a Fort Rouge project, the vast majority of condo sales in August were resales with many of the larger percentage gains over 2018 occurring in the southwest quadrant of Winnipeg. When you add up the August condo sales activity of East Fort Garry, Linden Woods and Fort Richmond, there are 34 sales. There were 12 altogether last August.

As for single family sales, the 1,014 total for this month are record-setting too for this month but only up 4% over August 2018. 3% of these sales can be attributed to the expansion of MLS® this year to the south-central region of Manitoba in the Morden/Winkler area. Another 25% of total single family sales came from outside Winnipeg.

“It is not often, if at all, when we see condominium sales outperform single family to the degree they did this month,” said Ken Clark, president of WinnipegREALTORS®. He added, “It means their year-to-date percentage gain over 2018 sales is greater than single family’s now."

If condominiums were the lead standout in this record-performing MLS® month, there was a strong supporting cast of other property types besides single family. All property types saw increases over August 2018 with large double-digit increases in many instances. The 27 resort property sales increased 50% over 2018.

Year-to-date MLS® sales of 9,702 are 5% higher than the same period of time last year while dollar volume of $2.91 billion is up 6% from 2018. Sales are within 1% of the best years on record in 2016 and 2017.

Inventory is somewhat elevated at over 6,000 listings and is 17% greater than we were at the same time last year, however overall we remain in balanced territory.

“It is becoming abundantly clear with the strong results we had in August that buyers are capitalizing on the incredible choice and vast array of affordably-priced properties available on our MLS® for sale,” said Clark. “A very favourable 5-year fixed rate in the current mortgage market bodes well for buyers heading into the fall season.”

“In a competitive market where there are so many listings to choose from, you need to hire a REALTOR® to make your property stand out and come up with the right strategy to sell your home,” said Marina R. James. “REALTORS® have the knowledge, expertise and tools to sell your listing.”

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 over 2,080 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.

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

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