Photo by Serena | Photography
Our Super-Hot
Market: WHY?
Real Estate Times
Real Estate Times
Real Estate Times
News & Tips For Home Buyers, Sellers & Owners
Winnipeg
Housing Market Report
Housing Market Report
Inside: Options for
First Time Buyers
Active House
Active House
Active House
Listings Inside
Listings Inside
Listings Inside
Photo by Serena | Photography
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!"
About the Author
Photo by Serena | Photography
Welcome to our new and improved
Winnipeg Real Estate market report
in PDF Format.
Hi, I’m Bo Kauffmann of REMAX
performance realty, and welcome to
the most unique real estate report
available today.
New and Improved? Previously, the
segments were organized according
to available listings, sold homes, and
Inventory levels. But if you’re
looking at buying or selling a
$300,000 dollar house, you
probably don’t care about how
$750,000 homes are selling.
So we’ve organizes the sections in a
way that makes sense.
First up is an overview of the
housing market this month, and
comparing to previous time periods.
Up next are houses under $250,000,
entry level homes for first time
buyers in Winnipeg.
The third segment focuses houses
between $250K and $500K,
Winnipegs most active price
range.....by far.
Each price band is fully examined
and reported, with numbers of
available listings, solds over the past
month, inventory levels, average
days on market and more.
W H A T S T H I S A B O U T ?
Why a PDF? It allows the reader to
stay on a section he or she is most
interested in (as opposed to a
video). Plus it affords the time to
examine the information more
closely.
It also allows us to embed the audio
description of what you’re looking
at.
Any ads you find are also
interactive, meaning you can click
on certain spots and go directly to
the a d v e r t i s e r s internet sites.
I only accept ads from trusted and
reliable service providers.
These reports are a labor of love,
and I really would appreciate your
feedback, and any suggestions you
might have of improving them.
And please remember…. Bo Knows
Real Estate.
Let’s start with an overview of the market as it
is on April 1st.
This is an appropriate date, as the current real
estate market seems like an April fools joke on
buyers in Winnipeg.
In my 16+ years in real estate, I’ve never
experienced a buying frenzy to the extend it is
happening right now. You may have heard
stories of homes selling for 50, 75 or even
100,000 ABOVE list price. These stories are
true.
What we are witnessing is the result of several
factors.
First, the available listings are way down from
the average.
Going back over the previous 3 years, we can
see that around 1100 available houses for sale
in Winnipeg would be an average amount for
April 1st.
Today, we have 615. That’s about half of the
normal numbers
The second factor is that SALES are actually
higher than normal, which goes against
conventional wisdom.
W H A T ' S H A P P E N I N G
I N O U R M A R K E T ?
Photo by Serena | Photography
Why Is This Happening?
Over the past 3 years , an average number of around 550-
600 houses would sell during the month of March.
This year, we sold a confirmed 922 with another 124 as
pending and most likely to close……meaning that sales are
UP 80% over last year.
The result is obvious: an increasing number of buyers vying
for a decreased number of available homes.
Hardest hit will be the first time home buyers. If you’re
looking for a 300K home in a popular area, you may be out
of luck for now. Houses which are listed at 280, sell for
300, 320 , 350…..often without ANY conditions.
If you’re putting 5% down, that’s a VERY tough
environment to compete in.
We’ll take a look at your options in an article
on pages 14-15.
Photo by Serena | Photography
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 batten installation services.
Call Alon for all your insulation needs.
02. INSULATION
The following section shows the sales
and listing stats for Winnipeg houses
under $250,000
These are entry-level houses, great for
first time buyers in Winnipeg.
H O U S E S U N D E R
$ 2 5 0 , 0 0 0
Lets take a look at available houses priced under $250,000
Currently, April 1st, there are 144 active listings, which
compared fairly evenly to the 135 listings on March 1st this
year.
But compare to last year, same time. April 1st, 2020 we had
314 active listings available in the under $250K range.
And while available listings are down, sales are the same over
last month, and last year same time period.
During March this year, we sold 161 homes, with another 37
showing as "Pending", for a total of 198 possible sales.
Compare that against the 127 houses sold in February this
year, and the 135 sold in March of 2020.
This means the inventory drops from 77 days last year to 22
days this year.
Photo by Serena | Photography
Photo by Serena | Photography
Active House Listings
Listings by
REMAX perfomance realty
Working with qualified Clients.
Call Me Now: (204) 333-2202
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 NG T I M EL 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
Options for first time buyers
We’ve talked about the current
market conditions, which make it
very hard for first time home buyers
who have 5% down and a budget of
around 300K.
So what options do they have right
now?
Wait it out? Many agents, myself
among them, feel that this crazy
market is short lived. Inventory will
start to rise, and thereby lightening
the stress on buyers,…. We THINK.
But even if this happens, what will
the market look like? Will prices
actually come down, or just plateau
at a higher level? And where will
interest rates be?
Economists fear that the 2 trillion
dollar economic package passed by
the U.S. will drive interest rates
higher. Plus the Bank of Canada may
also step in to cool off this housing
market.
So waiting it out might not be the
best option.
O P TI O N S F O R
F I RS T T I M E
B U YE R S
Improve your credit?Yes, having the
best credit score possible is
important. Even more important is
the ability to put down more than
5%, and perhaps get into a position
of making an offer without
conditions.
This is scary, but if done right, can
be very effective.
In order to compete against other
bidders, a buyer is advised to make
their offer as clean as possible….
O P T I O N S F O R F I R S T
T I M E B U Y E R S
Condo fees are sometimes a turn
off, but they are not the boogey-
man many people think they are.
The other benefit of condos is that
the home inspection is practically
built in. Under the new
condominium act, condos must
have a ‘reserve fund study’ done
every 5 years. So the buyer has
some level of assurance of what
they are buying into.
Condos also offer many of the
same benefits as house ownership
and should be considered by
Winnipeg’s first time home buyer.
No home inspection, no finance
condition, no ‘subject to the sale of…’
clause.
These can be risky, and should not be
attempted unless you have to ability
to back them up. Also, not every
home should be purchased without
an inspection…. So proceed with care.
Are condos an option?
Yes, they could be. Similar to houses,
apartment or townhouse style condos
are seeing an increase in interest
from buyers, but not nearly at the
same level.
Bidding wars on condos are rare, and
while getting an updated 300K house
is difficult, you can find a gorgeous
condo in the low 200’s.
Photo by Serena | Photography
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
The following section shows the sales and
listing stats for Winnipeg houses between
$250,000 & $500,000.
This is Winnipeg's most active price range
for houses, where the average price for a
detached house is around $350,000.
H O U S E S B E T W E E N
$ 2 5 0 , 0 0 0 - $ 5 0 0 , 0 0 0
Let's take a look at available houses bet. $250,000 & $500,000
This is Winnipeg's most active price range, by far.
Currently, April 1st, there are 273 active listings, which is more
than there were on March 1st, but it is WAY down from a year
ago, when 602 houses were available.
And while available listings are down, sales are actually up over
last month, AND last year.
During March this year, we sold 586 homes, with another 62
showing as "Pending", for a total of 648 possible sales.
That's quite a bit higher over the previous month (396) and over
March of last year as well (397)
This means the inventory drops from 57 days last year to to a
meager 13 days this year. Very tough market for buyers in
Winnipeg.
Photo by Serena | Photography
Photo by Serena | Photography
Subscribe To Our 'Smart" Newsletter Here:
Sign up for our free, bi-monthly
AI-generated newsletter!
Your info is kept safe,
never sold or abused.
Unsubscribe anytime!
S U B S C R I B E H E R E
S T A Y I N F O R M E D !
/ 0