News & Tips For Home Buyers, Sellers & Owners
Real Estate Times
Winnipeg
Luxury Market Report
Luxury Market Report
March-April
Other Helpful
Resources
Seven of our most popular articles.
1
Monthly real estate market report for
Winnipeg. Updated every month with the
latest sales and listing stats.
HOUSING MARKET REPORT
2
Aside from the mortgage payment, buying a
home will cost in terms of legal fees, taxes,
insurance and more. Here are the costs.
CLOSING COSTS / HOME BUYERS
3
In-Depth guide for people who want to buy
a house or condo in Winnipeg. Step by step
instructions and timeline.
BUYING A HOME IN 2021
4
Condos are not for everyone. But for the
right person, it might be the perfect option.
6 situations where a condo is right for you.
IS A CONDO PERFECT FOR YOU?
5
Preparation is key for getting top dollar for
your home. How to prepare your home for
the pictures that will go on the MLS.
GET YOUR HOME READY FOR SALE
READ NOW
READ NOW
READ NOW
READ NOW
READ NOW
6
What other costs should you expect when
you own a home? Insurance, taxes, utilities,
and maintenance costs exlained.
COST OF HOME OWNERSHIP
7
Are condo fees a complete waste of money?
Many people think so, but let's take a closer
look at what condo fees actually pay for.
CONDO FEES VS. HOUSE EXPENSES
READ NOW
READ NOW
In 2005, after completing an exciting career as a
Police Officer for the City of Winnipeg, Bo joined
RE/MAX Performance Realty, Winnipeg’s largest and
most successful Real Estate Brokerage.
In 2006, wanting to learn how to better serve his
home buying clients, he earned the designation of
A.B.R.®, Accredited Buyer Representative. Over the
years, Bo developed a strong passion for working
with buyers and sellers of houses and condos in
Winnipeg.
This passion helped him to be inducted into the
RE/MAX Hall of Fame in 2010, awarded to agents
who have sold over $40 Million Dollars of real
estate.
In 2019, Bo received the RE/MAX Lifetime
Achievement Award, presented to agents who have
sold over $120 Million Dollars worth of homes. By
this time, Bo Kauffmann had helped over 500
buyers and sellers of houses and condominiums in
Winnipeg.
In 2020, again wanting to expand his knowledge
and expertise, Bo became a Certified Luxury Home
Marketing Specialist.
“I love the additional tools, resources and access to
international buyers that this Institute has given
me.”
"My
mission
is to help
you turn
your
dreams into
reality!"
His-Story
Photo by Serena | Photography
Welcome to the most unique Luxury
Homes Market Report available
today.
Hello, I’m Bo Kauffmann, Certified
Luxury Home Marketing Specialist
with REMAX performance realty in
Winnipeg.
In the pages which follow, we will
look at the sales and listings stats
for luxury houses and condos in and
around Winnipeg. The stats which
are quoted are for all areas inside of
Winnipeg, and those within approx..
10 mins drive from the Perimeter.
There is an audio available for each
segment.
There are 4 sections in this report:
The first is what I call Entry Level
Luxury houses, those priced bet.
500K and 700K.
Next are the mid-range luxury
homes between 700K and up to $1
Million.
The third segment is houses over
$1,000,000, and the final section is
dedicated to all luxury condos priced
over $500K.
Any ads you find here are by
service providers which I know
and trust, have either used myself
or am recommending them to my
clients and friends.
I hope you enjoy this report.
These luxury reports are bi-
monthly, so a new one will come
out every 2 months. I would be
very interested in any feedback
you might give me.
And if you’re in the market to sell
or buy a luxury house or condo in
or around Winnipeg, please
contact me anytime, direct at
204-333-2202.
Sincerely
River Heights, Wellington Cres,
Crescentwood, Winnipegs Exchange
and Waterfront Districts, Tuxedo,
Charleswood, Linden Woods and
Linden Ridge, Bridgwater Trails,
Bridgwater Forest and Bridgwater
Lakes, South Pointe, Headingley South
and The Oaks, Royalwood, Sage Creek,
Glengarry Park, E. St Paul, Pritchard
Farm, St Andrews and W. St Paul, Oak
Bluff, La Salle and Oakbank.
Luxury Market - March/April 2021
Houses Between
$ 500,000 &
$ 700,000
S E CT I O N O N E
Houses Between $500,000 - $700,000
So starting with the entry-level
luxury homes, those price
between 500 and $700,000.
And remember that this report
is bi-monthly. These stats
right now are for March 15th
and compared to January 15th.
So currently we have 140
houses on the market
compared to 127 two months
ago.
So the median days on market,
it's kind of, it's not an average,
but it's kind of the middle of
the road. It's dropped from 42
days to only 26 days, which is
telling us that there's a lot of
new listings.
A lot of those 140 listings are
fairly new.
As far as sales go in the past
two months, we sold 182 in
this price range compared to
only 107 in the two month
period before January 15th.
And as far
as inventory
goes, inventory means: “How
many days does it take to sell
everything that's out there, if
there are no more listings
coming to market?”
Obviously the lower, the
number, the hotter the
market. So last time it was 66
days. This time it's just 46
days.
Houses Between $500,000 - $700,000
Yes, one of your first steps should be to find a
great agent. One who can connect you with all
the necessary professionals to help you in your
home 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 to
answer your questions and has the time and
expertise to help you. Low rates are great, but
not necessarily the most important factor.
G E T P R E - A P P R O V E D
Your agent will set up a search according to
your parameters and financial abilities. Look at
homes which fall into those categories.
Ask your REALTOR® for honest feedback on
each home you see.
L O O K A T H O M E S
See your lawyer, mortgage lender and
insurance broker. DON'T change your credit
rating before possession. Look forward to the
big day.
P R E P A R E F O R P O S S E S S I O N D A T E
H O M E B U Y I N G T I M E L I N E
You will need at least 5% for down payment,
plus approx. 3% for closing costs. What are
closing costs? Click the button below.
S A V E F O R D O W N P A Y M E N T
An experienced REALTOR® will be able to
guide you, and help you craft the best offer
according to the market conditions.
M A K E A N O F F E R
Houses Between
$ 700,000 &
$ 1 Million
S E CT I O N T W O
Houses Between $700,000 - $ 1 Million
Next up houses between
700,000 and $1 million.
Currently there are 69 of those
compared to 63 in the previous
period.
And the median days on
market is pretty much the
same 39 last time, 38, this
time, however 'Solds" have
gone way up.
In the period before January
15th, we sold 23 and this last
two months we sold 42. So
that's drop the inventory level
drastically. Last time it was
180 days, and now we're
down to 99 days.
Houses Between $700,000 - $ 1 Million
Houses Over
$ 1 Million
S E CT I O N T W O
Houses Over $1 Million
And here we are for true luxury
houses in Winnipeg for what an
average house school is for in
Victoria or Vancouver.
You can actually find a really
nice million dollar plus houses
right here in our city.
The most expensive house on
the market is $3.25 million on
incidentally Victoria Crescent
and the most expensive house
sold in the past two months was
1.6 million, in River Heights.
Currently, there are 27 houses
on the market at a million
dollars plus compared to 28, the
previous two months.
So that's about the same
median days on market. Hasn't
changed much from 44 days to
42 days.
Sold in the past 60 days, there
was eight, eight houses at a
million dollars or more
compared to nine in the two
month period proceeding,
January 15th and inventory
levels have actually gone up a
little bit because sales have
dropped by one.
So there isn't much of a
change inventories at 202
days.
Houses Over $1 Million
R.A. Hughes Insurance have been providing
Home, Business and Commercial Insurance
for decades. Family owned and operated,,
providing 'Piece of Mind Since 1929".
01. HOME INSURANCE
Recommended Professionals
VISIT THEIR SITE
Thomas Johnson at Cascade Financial will
help you with all your Life/Disability
Insurance, as well as Investment Strategy
needs. "Building Wealth - Generation to
Generation"
02. LIFE & DISABILITY
VISIT THEIR SITE
Mike Schroeder of Mortgage Architects is a
consumate mortgage professional. His
personal service assures that "Low Rates are
just the beginning"
03. MORTGAGE BROKER
VISIT THEIR SITE
Rob White of Urban Topcoat for all your
interior and exterior painting, refinishing and
decorating needs. There is 'Quality in his
hands and he leaves it in his work"
04. PAINTING & DECOR
VISIT THEIR SITE
VISIT THEIR SITE
VISIT THEIR SITE
Darcy Berrington of Aire-Serv Heating &
AC is our choice for all our heating,
ventilation and air conditioning needs. He
is Winnipeg's "King of Comfort"
01. HEATING & AC
Recommended Professionals
Alon Lichtenstein of Great Canadian
Insulation is an expert in spray-foam,
blown in or Batting and Poly Insulation.
.
Call Alon for all your insulation needs.
02. INSULATION



Condos Over
$ 500,000
S E CT I O N F O U R
Let's take a look at condos in
Winnipeg luxury condos. Are
those anything? Over $500,000,
then put the most expensive
condo on the market. Still 3.25
million on Wellington Crescent.
That's Wellington Crescent.
Number one, top two floors it's
8,000 square feet.
Absolutely stunning, absolutely
gorgeous. If you want to see that
one, give me a shout. And the
most expensive condo sold in the
past two months was 905,000 in
tuxedo. Right now, there are 33
condos in that price range over a
half, a million dollars compared
to 21. The previous period and
median days on market has
drastically dropped from 74 down
to 32, which again, reflects that
there's a lot of new listings on
the market.
Sold in the past 60 days was nine
and nine condos at half million
dollars or more compared to four in
the two months preceding January
15th, which also drops the inventory
levels from 315 days down to 220
days. When you compare this to
normal. Normal average house sales.
That's a very long period. So if
you're the seller of a luxury condo,
please be patient.
They do take
awhile to
move in
Winnipeg.
Condos Over $500,000
Condos Over $500,000
Did your house or condo fail to sell,
even after you listed it with a real
estate agent on the MLS®? Don't
despair.
Even at the height of our busiest
times in the past few years,
approximately 54% of LUXURY
listings did not sell during the first
listing period, becoming an expired
listing in Winnipeg. MORE THAN
HALF. So you are not alone.
But now is the time to take a closer
look at why the listing failed to sell.
Here are a couple of the major
reasons this could be:
Has Your Home Been Staged?
Especially important if you've already
moved out of your home. Empty
houses don't sell well. Buyers have a
hard time imagining how the
furniture will lay out. Also, if you still
live in your home and it's overstocked
with furniture and 'things',
decluttering and staging is an
important step.
Is Your Home Clean?
Having a professional cleaner take a
run at your home is an important
step. Have it cleaned before the
photographer shows up to take the
pics. And then make sure it’s clean
whenever a buyer comes thru.
Selling In "As-Is" Condition
Another side effect of the hot market
is that home-owners start to believe
that every house will sell.......no
matter what! I recently toured a
home where nearly half of the light-
bulbs were burned out. After going
into yet another dark bedroom,
flicking the light-switch in futility, I
suggested to the owner that they
replace the burned out bulbs. The
response was "We're selling it "as
is".....if someone wants our home,
they can replace their own bulbs".
This is a bit of an extreme example,
but you get the idea.
Be Out Of The Home When It Shows
This is where the private sellers
completely 'miss the message'. The
fact is, most buyers want to be able
to examine a home in peace and
leisure, with their agent, so that they
can discuss various options and
features of the home, without having
the owner overhear what they are
saying. Don't believe me? Think of it
this way: the next time you go to test
drive a car, do you want the salesman
to drive you, or do you want to go for
a drive with your spouse or significant
other, so you can discuss the car, test
it, etc etc, without a pushy salesman
nattering in your ear?
Luxury Homes Need
Better Marketing
Poor Quality Listing Description and
Photos
The MLS® allows for over 1,000
characters in the description field of
the property listing. Make sure they
are used to full benefit. Is the listing
enticing? Does it make buyers WANT
to come see the house? Even more
important are the quality of the
pictures. Did your agent use his cell
phone to take the pics? Are they
properly lit and framed?
Inadequate Marketing Leads To
Expired Listing
A major contributor to an Expired
Listing. One side-effect of a super-
hot market is 'complacency'. Real
Estate Agents, who are traditionally
known as some of the best
marketers in business, start to
believe that every house will sell,
even without advertising and
marketing. The thinking went: "Just
put it on the M.L.S. and it will sell".
That may have been sufficient in
most cases, but in a slower, more
level market, it will not be enough.
So question is: did your home receive
adequate coverage, in printed
newspapers, magazines and on the
internet?
Setting The Correct Price
Actually, this has always been the main
factor when a house or condo listing
expires. And these days, it will be even
more important to get the 'asking
price' correct, right from the start.
These are some of the main reasons
why a home might not sell right away,
and become an failed listing. As our
Winnipeg market starts to level off a
little, going from a super hot sellers
market to a more balanced one, these
reasons become even more important.
What to do next?
Take a close and critical look at which
of the above reasons might apply to
your situation and when re-listing the
house, correct any or all of them
before putting the home back onto the
market.
When in doubt, call me for a 2nd
opinion.
54% of Luxury
Listings Fail to Sell
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