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Scotia Heights, Winnipeg - We invite everyone to visit our open house at 132 Inkster Blvd on June 29 from 1:00 AM to 3:00 AM.
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Scotia Heights, Winnipeg - Announcing 132 Inkster Blvd, a 998 sq. ft., 2 bath, 3 bdrm 2 story Home for Sale. 
MLS® $149,900 - .
Property information
Buying a home is one of the biggest decisions you’ll ever make. So when it comes time to signing on the dotted line, make sure you don’t make that decision alone.
To help you put together the right team of professionals, Canada Mortgage and Housing Corporation (CMHC) offers the following who's who list of experts and what they should bring to the table:
- Real estate agent. Among other services, your real estate agent will help you find a home, write an Offer of Purchase, negotiate a purchase on your behalf and save you a considerable amount of time, trouble and headaches. When choosing the agent you want to work with, don’t be afraid to ask questions or call your local real estate association for advice.
- Lender or mortgage broker. Many different institutions lend money for mortgages, including banks, trust companies, credit unions, caisses populaires, pension funds, insurance companies and finance companies. It can be a good idea to shop around and speak with more than one lender before you make a choice. Many Canadians choose to work with a mortgage broker because mortgage brokers don't work for any specific lending institution, they can often help you find a mortgage with terms and rates that will suit your needs.
- Lawyer (or notary in Quebec). A lawyer can help protect your legal interests by ensuring the property is clear of liens, charges or clean-up orders and will review all contracts before you sign them and your Offer (or Agreement) to Purchase. Make sure your lawyer or notary is a licensed, full-time professional who understands the local laws and regulations, has reasonable fees and can explain things to you in plain language.
- Home inspector. When considering purchasing a home, you should hire a knowledgeable and professional home inspector. He or she will be able to tell you if something in the home is not functioning properly, what repairs need to be done and whether there may have been any problems in the past.
- Insurance broker. An insurance broker will help you with property and mortgage life insurance. Your lender can also help you with mortgage life insurance.
- Appraiser. An appraiser will assess your property’s worth and help protect you from paying too much.
- Land surveyor. You may need the services of a land surveyor if the seller does not have a current Survey or Certificate of Location.
For more information on putting together your homebuying team and on other factors associated with buying a home, visit www.cmhc.ca, and search "Homebuying Step by Step"
You've weighed your options, and now you want to buy a home. But purchasing a home is one of the biggest investments you’ll ever make. So before you make an offer, make sure you’re ready to take on all the financial and emotional responsibilities that come with owning a home of your own.
To help you make an informed decision, Canada Mortgage and Housing Corporation (CMHC) suggests you ask yourself the following questions before you begin your search for the perfect home:
- Are you ready to make the move from renter to homeowner? If you would like some stability, are interested in performing or overseeing home maintenance and repairs, and if you are willing to invest some or all of your savings into your home instead of in vacations, retirement or to start a business, then homeownership may be right for you.
- Are you financially ready to buy a house? To avoid any unpleasant surprises down the road, take the time now to calculate your net worth, current household budget and any monthly debt payments you already make. This information can help you evaluate your current financial situation, decide how much house you can afford and find out the maximum home price you should be considering. As a general rule, your monthly housing costs (including mortgage principal and interest, taxes and heating) shouldn’t add up to more than 32 per cent of your gross household monthly income. In addition, your entire monthly debt load shouldn’t be more than 40 per cent of your monthly income.
- How much will your home actually cost? Once you’ve figured out the price range you can afford, you still need to take into account all the other costs associated with homeownership. These include up-front costs such as mortgage loan insurance premiums, appraisal and home inspection fees, legal fees, moving expenses and a down payment, as well as such ongoing costs as maintenance and repair expenses, service fees, emergency savings and condo or strata fees.
- What kind of mortgage is right for you? Depending on the size of your down payment, you may have either a conventional or high-ratio mortgage. You will also need to choose the term and amortization period for your mortgage, work out a payment schedule, decide whether you would prefer a closed or open mortgage, and choose between a fixed, variable or adjustable interest rate. To make all of these decisions easier, it can often be a good idea to select a lender and get pre-approved for a mortgage before you begin looking for the home of your dreams.
For more information on buying a home visit www.cmhc.ca, and search "Homebuying Step by Step" or call CMHC at 1-800-668-2642. For more than 60 years, Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency and a source of objective, reliable housing expertise
OTTAWA – May 6th, 2008 – National MLS® home sales activity will remainstrong in 2008 despite trending lower from record-level activity last year,
according to a new residential forecast prepared by The Canadian Real Estate
Association.
National home sales are forecast to ease 11.5 per cent to 460,900 units in 2008,
and to ease a further four per cent the following year. Prices are forecast to set
new records in every province this year and next, but price gains will be smaller
than in recent years.
MLS® home sales are forecast to ease gradually in all provinces in 2008, but
record-level activity in Saskatchewan and Newfoundland & Labrador during the
first quarter will result in new annual records in these provinces. New listings are
forecast to rise in all provinces. The gradual decline in sales activity combined
with an increase in new listings will result in a more balanced resale housing
market. The market is forecast to remain tightest in Saskatchewan and Manitoba,
and as a result price increases there will be biggest.
The MLS® residential average price is forecast to rise 5.3 per cent in 2008 and a
further 4.2 per cent next year, pushing prices to new heights. Price gains will
become smaller as the resale housing market becomes more balanced.
“MLS® home sales will remain strong, despite coming in lower than last year’s
breakneck pace,” said CREA Chief Economist Gregory Klump. “After-tax income
growth, strong employment and short-term interest rate cuts will support housing
demand, despite further home price increases and increasing economic
uncertainty that are wearing on consumer sentiment about making purchases
such as a car or home,” he said.
“Saskatchewan home sales will benefit from an influx of people moving to the
province, and the resale housing market in Newfoundland & Labrador should
also prove to be exceptional over the next couple of years,” he added. “A strong
natural resource sector there will lift both housing demand and prices.”
“The Canadian resale housing market is on a distinctly different path than the
market in the United States,” says CREA President Cal Lindberg. “CREA expects
the growth in average price to slow in 2008, which is reflected in many markets.
This stands in stark contrast to the U.S. housing market, where prices and sales
activity are on the decline.”
May 2008 marks the first month in WinnipegREALTORS® 105-year history that its 1,300 REALTOR® members sold over $300 million worth of MLS® listings. It is also the second most active month in WinnipegREALTORS® Association history – only falling short in MLS® sales activity to the same month last year, when sales exceeded the 1,600 level for the first time. The nearly $320 million in MLS® sales activity in May raises the year-to-date total dollar volume past the $1 billion level – the quickest this has ever happened in a single year. Just six years ago, it took an entire year of MLS® sales to reach $1 billion.
A real positive development is the increase in inventory over the same period last year. Active listings are up 19 per cent. A major contributor to helping alleviate the shortage of listings has been the entry of over 4,000 new listings in April and May on the REALTOR® Association's MLS® system.
May MLS® unit sales of 1,564 and a dollar volume of nearly $320 million make this the highest dollar volume month ever and the second highest sales month on record. May sales were down five per cent (1,564/1,652), while dollar volume was up eight per cent ($319.7 million/$296.6 million) over the same period last year. Year-to-date MLS® sales are down less than three per cent (5,253/5,392), while dollar volume has jumped 14 per cent ($1.02 billion/$897.5 million).
"Most importantly going forward is buyers will have more to choose from with the increase in inventory that is now available," said Darlene Clare, president of the WinnipegREALTORS® Association.
Clare added, "There were an additional 230 new listings entered on MLS® on Monday, June 2 nd , and this is just after seeing our inventory increase 19 per cent over the same time last year for the end of May. Buyers should be contacting their REALTOR® to find out what is new on the market and ask them about the many housing options available to them."
"While there are more listings on the MLS® market, the demand for MLS® listings remained brisk in May with 67 per cent of the 1,184 residential-detached sold properties selling for above or at list price," said Clare. "Condominiums were even more impressive with 75 per cent of the 147 sold properties selling for above or at list price."
One thing can be said based on tracking average residential-detached sale prices for the past few months this year: the rate of increase each month has moderated markedly since there was a notable spike at the end of February in comparison to January, and also another one in March in comparison to February. Percentage increases at the end of February and March were running around 5.0 per cent, while in April and May they were 2.3 per cent and 1.3 per cent, respectively. The average residential-detached sale price in May 2008 is up 13.7 per cent over the same month last year - $221,431 versus $194,728. Similarly, condominium prices shot up in February and March and leveled off noticeably in April and May. The average condominium sale price in May 2008 was $184,836. That is up 23 per cent over the same month last year.
On a final note with respect to average residential-detached sale prices in May, when you break out City of Winnipeg sales and the one in five sales – or 20 per cent – which occurred in the WinnipegREALTORS® market region outside the city, the average sale price is very similar.
This has not always been the case, as rural properties have been consistently higher for the past number of years. For example, in 2007 the average residential-detached sale price for sales within the City of Winnipeg was $179,196 while the rural average residential-detached sale price was $196,237.
For residential-detached sales throughout the entire market region, the most active segment of the MLS® market was the $160,000 to $199,999 price range, accounting for 232 sales or 19 per cent of the total. Next in line was the over $300,000 price range with 215 sales or 18 per cent. One of them sold for $1,100,000, a stunning 5,500 square-foot home overlooking Peanut Park in Crescentwood. It should be noted that May 2008 is the first month of residential-detached sales activity when WinnipegREALTORS® has had more sales over $200,000 than under.
Average days on the market for sales of MLS® residential-detached listings in May was only 20 days, two days faster than April and one day off the fast pace set in May 2007. Condominium listings sold in May were only on the market an average of three weeks, with the highest sale price being $700,000, for a 3,000 square-foot bungalow style condo in Tuxedo.
Charleswood, Winnipeg - The 4-level split at 130 Woodchester Bay has been sold.
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Charleswood, Winnipeg - Announcing a price reduction on 130 Woodchester Bay, a 1,680 sq. ft., 2 bath, 3 bdrm 4-level split. Now MLS® $249,900 - .
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Changes in population from migration and immigration:
The total net gain to Manitoba's population from strong international immigration and improving inter-provincial migration totaled nearly 8,600 people in 2007 – a new record.
International immigration added almost 10,000 people to Manitoba's population last year. This is the highest number ever recorded for the province.
Meanwhile, the net loss of just 1,390 people to other provinces was the smallest annual decline in more than 20 years, due to a surge in the number of people moving in from Alberta. Manitoba also lost fewer people to British Columbia in 2007, and gained more people from Ontario than it lost for the first time since 1982.
Changes in population from movement within Canada:
For years, Manitoba lost more people to other parts of Canada than it attracted. However, in the fourth quarter of 2007, Manitoba posted the largest net gain to its population from interprovincial migration since 1986.
Some 17,575 people moved to Manitoba from elsewhere in Canada last year, the biggest gain in over 20 years. The increase was offset by the loss of the 18,965 people who moved away to other provinces.
The net loss of just 1,390 people to other provinces last year was the smallest annual decline in more than 20 years. Improving interprovincial migration resulted from a surge in the number of people moving to Manitoba from Alberta. Manitoba also lost fewer people to British Columbia in 2007, and gained more people from Ontario than it lost for the first time since 1982.
Changes in population from immigration:
Nearly 10,000 people were added to Manitoba's population from international immigration last year, which is a new annual record.
The fourth quarter of 2007 saw a gain of 2,057 people from abroad. This is the strongest gain during the fourth quarter period in 34 years.
The Winnipeg real estate market was impressive in April, with the highest sales and dollar volume ever for this month of the year. New listings were also solid, increasing six per cent over last year and up 30 per cent going back to 2003 when Winnipeg's bull-market began in earnest.
Dollar volume is the highest it has ever been for the first four months of the year, with over $700 million in MLS® sales activity.
April MLS® unit sales totaling 1,355 and a dollar volume just shy of $273 million make April 2008 the best on record. April sales were up eight per cent (1,355 / 1,248) while dollar volume spiked 28 per cent ($272.7 million / $212.1 million) compared to the same month last year. Year-to-date MLS® sales are down only one per cent (3,689 / 3,740) while dollar volume continues its annual recordbreaking pace with a 17 per cent increase ($701.4 million / $600.8 million).
"What is most encouraging is the welcome influx of new listings onto MLS® this past month," said Darlene Clare, President of the WinnipegREALTORS® Association. "Close to 1,900 listings were entered and that is the highest total we have had for April in ten years."
"Of course, with more listings and demand remaining brisk, the equivalent of three out of four new listings were sold in April," said Clare. "As a result, WinnipegREALTORS® had its first April where MLS® sales eclipsed 1,300. Dollar volume is over double what it was for this month in 2004 ($272.6 million vs. $124.4 million).
"This record-setting month for April brings our year-to-date sales up almost even with 2007 for the same time period and dollar volume is a few percentage points higher than what we predicted it would be in our 2008 forecast," added Clare. "True to what we have been saying all year, our local market is buttressed by solid economic fundamentals and positive consumer sentiment. Despite the gloom and doom headlines down south, Manitobans realize real estate is a good investment here."
For residential detached sales, the most active segment of the MLS® market was the $160,000 to $199,999 range, with 22 per cent of the total sales. Next busiest is the over $300,000 price range, at 17 per cent. The under $100,000 price range has free fallen to the point where they represent less than 10 per cent of the total sales.
April is noteworthy for its three $1-million-plus home sales – the first time three have occurred in a single month. The most expensive one sold for $1,250,000. Average days on the market for the sales of MLS® residential-detached listings in April was 22 days, one day ahead of last month and a day slower than April 2007.
River Heights, Winnipeg - The 1 3/4 story at 154 Queenston St has been sold.
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Charleswood, Winnipeg
-
Announcing a price reduction
on 244 Elmhurst Rd, a 970 sq. ft., 1 bath, 2 bdrm 1 1/2 story. Now
MLS®
$149,900
- .
Property information
Winnipeg MLS® Sales down 3%; Dollar Volume Up 8% The Winnipeg real estate market in February set a new record this month (February) for dollar volume as it approached $140 million in sales activity. New listings were on par with last February but not enough to bring inventory up to 2007 levels for this time of the year. Despite sales being off 3%, they are still the fourth highest on record for the month of February.February MLS® unit sales off 772 and a dollar volume closing in on $140 million makes February 2008 the highest dollar volume for this month on record. February sales were down 3% (772 / 797) while dollar volume shot up 8% ($138.6 million / $127.9 million) in comparison to the same month last year. Year-to-date MLS® sales are down by less than 1% (1341 / 1352) while dollar volume is up 11% ($234.2 million / $211.3 million)
“The shortage of listings constrained sales activity in February as the conversion of active listings to sales this month was actually higher than the same time last year” said Darlene Clare, President of WinnipegREALTORS®. “Demand remains strong for residential-detached MLS® listings as close to 60% of all sales went for above list price.
In comparison, 44% of residential-detached listings went for above list price in February 2007. The average sales price for February 2008 above list price sales was just under $198,000”.
“The MLS® market so far is behaving as expected with strong demand continuing to put upward pressure on house prices” Clare stated. “Sellers market conditions will prevail well into spring and someone thinking of buying or selling a property should be contacting their REALTOR® now.”
Residential detached sales in February were most active in the $160,000 to $199,999 price range, with 22% of the total sales activity. Equivalent to this market share amount were the sales over $250,000 (11% each for the $250,000 to $299,999 price range and for sales over $300,000) There were less then 10 sales in the lowest price range of $39,999 and under.
The average days on the market for sales in February 2008 was 25 days; 5 days quicker than last month, and 2 days faster than February 2007
Winnipeg MLS® Sales at 12,568; Dollar Volume is $2.14 Billion
With one month remaining, the Winnipeg real estate market has already surpassed the best annual performance ever with MLS® sales outflanking last year’s record of over 12,300 sales and a dollar volume eclipsing the $1.87 billion mark. The first $2 billion year happened in early November, and with another record month of sales and dollar volume activity in November, year-to-date dollar volume now sits at over $140 million above this new milestone level for Winnipeg. It also appears very likely MLS® sales will reach 13,000 for the first time by year end. In November, there also was a major house sale fetching close to $1.9 million.
For this time of year, it is unusual to see nearly half of the entire MLS® inventory turnover and the equivalent number of sales match the new listings that were entered in the month of November. In a number of MLS® areas throughout the city it is not uncommon to have more sales than new listings so whatever inventory of listings is left at the end of October it is being sold in November. Over 40 % of residential-detached listings sold for above list price.
November MLS® sales are up 7% (880/825) while dollar volume increased 21% ($154.9 million/$127.9 million) when compared to the same month last year. Year-to-date MLS® sales are running over 7% ahead of the same period last year (12,568/11,711) while MLS® dollar volume is up 21% ($2.14 billion/$1.77 billion). Four out of every five listings entered on MLS® this year have sold.
This record level activity has tremendous economic spin-offs for the local economy and numerous ancillary real estate –related businesses benefit. A conservative estimate of additional economic activity based on our MLS® sales this year is around $300 million.
Residential-detached sales in November were most pronounced in the $160,000 to $199,999 price range with 23% of total sales. The next busiest price range was the $130,000 to $159,999 range at 15%. In contrast, 35% of all condominium sales in November were over $210,000. This is in part a direct result of newer condominium projects with higher priced units making a notable impact on condominium sales this year.
The average days on market for residential-detached sales in November was 27 days, three days off October’s pace and three days quicker than November 2006. Average days on market for condominium sales was 27 days as well.
Winnipeg Home Sales Up 15%; Dollar Volume Jumps 34%
The Winnipeg real estate market in October performed exceptionally well with MLS® sales and dollar volume activity being well ahead of October 2006, the previous best October on record. It has been an amazing ten month run with MLS® monthly market activity setting new monthly records and a year-to-date pace unrivalled in the WinnipegREALTORS® Association’s 104-year history.
To indicate how active October 2007 was, the equivalent of 87 per cent of the listings that were entered on the MLS® this month sold. 57 per cent of the entire MLS® inventory turned over as well. October also resulted in the fourth million dollar plus sale on MLS® this year as a 4,808 sq ft river property near St. Vital Park sold for $1,236,000; $86,000 over list price. Houses in Winnipeg this year are selling on average for 4% above their list price.
October MLS® sales are up 15% (1,201/1,040) while dollar volume increased 34% ($210.4 million/$157.3 million) when compared to the same month last year. Year-to-date MLS® sales are running over 7% ahead of the same period last year (11,704, 10,886) while MLS® dollar volume is up 21% ($1.99 billion/$1.64 billion).
Another important highlight of October 2007 is the significant increase in condominium sales. They were nearly double the number for the same month last year. Year-to-date condominium sales are 1,241, up 30% over 2006.
Helping spur on increased condominium sales are new projects coming on stream such as the Mosaic off Bison Drive near the University of Manitoba. There were 74 units that sold in October alone.
Residential-detached sales in October were most pronounced in the $160,000 to $199,999 price range with 24% of total sales activity. The over $300,000 price range was a solid 10 % which shows a trend this year to higher end home sales. The under $100,000 price ranges only represented 16% of total sales. The average days on market for residential-detached sales in October was 24 days, one day slower than September’s pace and 4 days quicker than October 2006.