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Inside: Condo
Fees Explained!
News & Tips For Home Buyers, Sellers & Owners
Winnipeg
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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
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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
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Welcome to our new and improved
Winnipeg Condo market report in PDF
Format.
Hi, I’m Bo Kauffmann of REMAX
performance realty, proud to present
the most unique real estate report
available today.
New and Improved? Previously, the
segments were organized according to
available listings, sold condos, and
Inventory levels. But if you’re looking
at buying or selling a $200,000 dollar
condo, you probably don’t care about
how million dollar units are selling.
So we’ve organized the sections in a
way that makes sense.
First up is an overview of the condo
market this month, and comparing to
previous month, and LAST YEAR same
time.
Up next are condos under $250,000,
entry level homes for first time buyers
in Winnipeg.
The third segment focuses on condos
above $250K and all the way up to the
million dollar units.
Each price band is fully examined and
reported, with numbers of available
listings, solds over the past month,
inventory levels 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). This way, it affords you
time to examine the information
more closely.
It also allows us to embed the
audio description of what you’re
looking at, so if you don't want to
read, click the audio button.
Any ads you find are also
interactive, meaning you can click
on certain spots and go directly to
the advertisers 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, if you're
planning to buy or sell a condo in
Winnipeg, I KNOW Condos.
Winnipeg's Condo Market appears to be
benefitting from the overheating housing
market.
Buyers, perhaps unable or unwilling to get
involved in the outrageous bidding wars, are
discovering that condominiums offer many
of the same home ownership benefits, at
much lower purchasing costs.
So it is that in the month of May this year,
we sold a confirmed 160 units, with another
51 marked as "pending', for a total possible
sales of 211 condos in Winnipeg.
While that is slightly down from the 232
sold in April this year, it is a HUGE increase
of the 141 condos sold in May of 2020.
As you can see, available condos are also
down significantly from the same time last
year. On June 1st, we have 461 condos
available on MLS, as compared to 655 last
year, same time.
J U N E C O N D O
M A R K E T O V E R V I E W
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J U N E C O N D O
M A R K E T O V E R V I E W
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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 Condos
under $250,000
These are entry-level condos, great for
first time buyers in Winnipeg.
C O N D O S U N D E R
$ 2 5 0 , 0 0 0
Lets take a look at available condos priced under $250,000
Currently, there are 253 active listings, which is down slightly
over the 262 listings on May 1st this year.
But let's compare to last year, same time. On June 1st 2020
we had 354 Condos for sale.
And while available listings are down, sales are up from last
year.
During May this year, we sold a whopping 93 Condos, with
another 28 showing as "Pending", for a total of 121 possible
sales.
That's down from the 139 in the previous much, but way up
from the 88 we sold in the same period last year.
This means the inventory drops from 215 days last year to 65
days this year.
Photo by Serena | Photography
Photo by Serena | Photography
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
Water: Virtually all condo fees already include water and hot
water.
Home insurance: Property is also going to be substantially
more in a house, since the condo building is already insured,
and the condo-buyer only has to purchase condo insurance.
Heating costs for an apartment or townhouse style unit are
also going to be substantially less than the heating costs for
a stand-alone house in the $200K range.
Prospective home owners sometimes use the subject of condo
fees to justify their preference of a house over a condo. The
argument is: “If I buy a house, I can save the condo fees.” This
reasoning is not entirely accurate, since it assumes that house-
ownership is completely without cost.
WATER, HOME INSURANCE, AND HEATING COSTS
1.
2.
3.
C O N D O F E E S I N P E R S P E C T I V E
(I point out the price range, since
MOST 200K houses will likely have
either old furnaces, old windows,
poor insulation, etc.)
EMERGENCY FUND
Home owners (especially buyers of
older buildings) are well advised to
start an emergency fund for things
that go wrong.
What could go wrong in a house?
For example, a new roof ($5000), new furnace ($4000), hot-water
tank ($800), windows and doors ($15,000) can put a real dent into
your savings. So putting aside a small amount each month, the
house-owner could save enough money to pay for those things.
All the while, the condo-fees already include this savings fund: its
called the Condo Reserve Fund.
SO LETS TAKE A LOOK AT THE CHART BELOW
In the first column, we have the costs of house-ownership. The
middle column shows that some of those items are already
included, while the rest are substantially lower.
The column on the right hand side shows the actual savings enjoyed
by the Condo–Owner.
C O N D O F E E S I N P E R S P E C T I V E
$215 PER MONTH LESS FOR THE CONDO
So in this example, the operating costs of a condo
are actually about $215 per month LESS than the
house, if you include the ’emergency fund’ savings
plan for the house.
So now, take the $215 off the condo fee of $275,
and the actual additional costs (over and above a
house-ownership) are only $60 per month.
For that money, the condo owner gets professional
management, landscaping and snow-clearing, and
often the use of amenities such as workout room,
swimming pool, etc.
IT’S ABOUT LIFE-STYLE
Condo ownership is about the life-style. If you
travel a lot, or are too busy for yard work, or any
number of other reasons, then condo-ownership
may be for you.
It should be pointed out that, even in a condo, it’s
prudent to have some extra money set aside, in
case the Reserve Fund is not large enough to
tackle any major project or renovation. When that
happens, the condo owner will face a ‘Special
Assessment‘, a sudden bill he will have to pay. But
there again, thats really not much different from
having to buy a new furnace or other major
unexpected repair.
C O N D O F E E S I N P E R S P E C T I V E
Active Condo Listings
Listings by
REMAX perfomance realty
Working with qualified Clients.
Call Me Now: (204) 333-2202
The following section shows the sales and
listing stats for Winnipeg Condos over
$250,000, all the way to million dollars+
In this price range you'll find some
stunning condominium units.
C O N D O S O V E R
$ 2 5 0 , 0 0 0
Let's take a look at available Condos over $250,000, all the way
to those million dollar luxury units.
Currently, there are 208 active listings, which is slightly more
than there were on May 1st, but it is down about 50% from a
year ago, when we had 301 units available.
And while available listings are down, sales are similar to last
month, but way up over last year.
During May this year, we sold 67 Condos, with another 23
showing as "Pending", for a total of 90 possible sales.
This compares will against the 93 condos sold in April this year,
but is much higher than the 55 sold during May 2020.
This means the inventory drops from 346 days last year to 72
days this year. Still, compared against housing sales, condos
offer a great alternative for buyers.
Photo by Serena | Photography
Photo by Serena | Photography
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
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