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Listings and home prices up, sales down in Tuxedo, Crescentwood

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Quiet starter home on low traffic street. Click image for more info or call Michael Leclerc 204-792-6453.

MLS listings and home prices went up while sales went down in the month of February 2018 for the Winnipeg neighbourhoods of MLS areas Armstrong’s Point, Crescentwood, River Heights North, Middle and South, and Tuxedo.

The average selling price of homes went up approximately 1.85% with the average being $452,689 compared to $444,335 in February 2017. On average a residence took 18 days less to sell compared to the average of 28.6 days in February 2017.

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There were 28 active listings in Winnipeg MLS areas 1C, 1D, 1E at the end of February 2018 as compared to 26 at the end of February 2017, and 11 homes sold in February 2018 as compared to 17 in 2017. The sales-to-listing ratio decreased from 73.6 percent in February 2017 to 42.3 percent in February 2018.

The highest price paid in 2018 for a home in the neighbourhoods of Armstrong’s Point, Crescentwood, River Heights North, Middle, South and Tuxedo was $650,500 for a home on Holdsworth Avenue. The lowest sale price belonged to a home on Centennial Street, which closed at $201,000.

Total active listings February 2018: 28
Total active listings February 2017: 26

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Total homes sold February 2018: 11
Total homes sold February 2017: 17

Sales to listing ratio February 2018: 42.3%
Sales to listing ratio February 2017: 73.6%

It pays to know the average price of homes for sale in your neighbourhood, as well as that of homes that have sold, including both over-list and under-list sales. We track all Winnipeg neighbourhoods daily, which allows us to more accurately set list prices on the homes we sell, while also making intelligent offers. If you would like a Free Home Value Appraisal in Corydon, Crescentwood, Fort Rouge, Fort Rouge West, Lord Roberts, Osborne Village, Riverview.  Please Contact Us or Call (204) 792-6453. We track the market closely and you can too with Winnipeg Market Tracker.

Average days to sell a home February 2018: 10.3
Average days to sell a home February 2017: 28.6

Average sale price February 2018: $452,689
Average sale price February 2017: $444,335

Lowest sales price February 2018: $201,000 Centennial Street
Highest sales price February 2018: $650,500 Holdsworth Avenue

Track the Winnipeg Real Estate Market!! Free Automated Email Service allows you to track the MLS market in real time. Follow the values in any neighborhood in Winnipeg. Find out what your neighbor’s house down the street sold for. Follow Winnipeg MLS listings in real time. Visit Winnipeg Market Tracker!

This information is courtesy of:
The Michael Leclerc Home Selling Team
Royal LePage Top Producers
Winnipeg MB
Phone: (204) 792-6453

MLS listings and sales down, home prices up in Tuxedo, Crescentwood

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Fine home loaded with features and just a short walk from Red River College! Click image for more info or call Michael Leclerc 204-792-6453.

MLS listings and sales went down in the month of January 2017 for the Winnipeg neighbourhoods of MLS areas Armstrong’s Point, Crescentwood, River Heights North, Middle and South, and Tuxedo.

The average selling price of homes went up approximately 51% with the average being $770,370 compared to $508,420 in January 2016. On average a residence took approximately 23 days less to sell compared to the average of 45 days in January 2016.

 – The Mortgage Rules Have Changed Again! – 
          Learn how to take advantage and challenge the system. Click Here!

There were 22 active listings in Winnipeg MLS areas 1C, 1D and 1E at the end of January 2017 as compared to 34 at the end of January 2016, and 10 homes sold in January 2017 as compared to 12 in 2016. The sales-to-listing ratio increased from 39.33 percent in January 2016 to 45.33 percent in January 2017.

The highest price paid in 2017 for a home in the neighbourhoods of Armstrong’s Point, Crescentwood, River Heights North, Middle and South, and Tuxedo was $2,460,000 for a home on Handsart Boulevard. The lowest sale price belonged to a home on Beaverbrook, which closed at $199,900.

Total active listings January 2017: 22

Total active listings January 2016: 34

Winnipeg Real Estate Information Special Request

Total homes sold January 2017: 10

Total homes sold January 2016: 12

Sales to listing ratio January 2017: 45.33%

Sales to listing ratio January 2016: 39.33%

It pays to know the average price of homes for sale in your neighbourhood, as well as that of homes that have sold, including both over-list and under-list sales. We track all Winnipeg neighbourhoods daily, which allows us to more accurately set list prices on the homes we sell, while also making intelligent offers. If you would like a Free Home Value Appraisal in Armstrong’s Point, Crescentwood, River Heights North, Middle and South, and Tuxedo.  Please Contact Us or Call (204) 792-6453. We track the market closely and you can too with Winnipeg Market Tracker.

Average days to sell a home January 2017: 22

Average days to sell a home January 2016: 45

Average sale price January 2017: $770,370

Average sale price January 2016: $508,420

Lowest sales price January 2017: $199,900 Beaverbrook Street

Highest sales price for the year 2017: $2,460,000 Handsart Boulevard

Track the Winnipeg Real Estate Market!! Free Automated Email Service allows you to track the MLS market in real time. Follow the values in any neighborhood in Winnipeg. Find out what your neighbor’s house down the street sold for. Follow Winnipeg MLS listings in real time. Visit Winnipeg Market Tracker!

This information is courtesy of:
The Michael Leclerc Home Selling Team
Royal LePage Top Producers
Winnipeg MB
Phone: (204) 792-6453

Home prices up but sales down for 2017 in River Heights, Tuxedo, Armstrong’s Point, Crescentwood

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The perfect-sized kitchen! Click Image or Call Michael Leclerc at (204) 792-6453 for more information.
The perfect-sized kitchen! Click Image or Call Michael Leclerc at (204) 792-6453 for more information.

Home sales were down but average home prices were up in 2017 in the Winnipeg neighbourhoods of Armstrong’s Point, Crescentwood, River Heights North, Middle and South and Tuxedo when compared to 2016.

There were 368 homes sold in Armstrong’s Point, Crescentwood, River Heights North, Middle and South and Tuxedo in 2016, and sales dropped to 324 in 2017. The average home sale price was up however, from $496,655 in 2016 to $552,040 in 2017.

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The average number of days required to sell a home in 2017 in Winnipeg MLS areas 1C, 1D and 1E came in at 21.66 as compared to 27.33 days in 2016. The lowest price paid for a home in these neighbourhoods in 2017 was $160,000 for a home on Beaverbrook Street. The highest price in 2017 was $2,460,000 for a home on Handsart Boulevard.

Total Active listings Year End 2017: 416
Total Active Listings Year End 2016: 446

Winnipeg Real Estate Information Special Request

Total Homes sold for the year of 2017: 324
Total Homes sold for the year of 2016: 368

Sales to Listing Ratio 2017: 76.66%
Sales to Listing Ratio 2016: 81.66%

It pays to know the average price of homes for sale in your neighbourhood, as well as that of homes that have sold, including both over-list and under-list sales. We track all Winnipeg neighbourhoods daily, which allow us to more accurately set list prices on the homes we sell, while also making intelligent offers. If you would like a Free Home Value Appraisal in Armstrong’s Point, Crescentwood, River Heights North, Middle and South, Tuxedo or any other Winnipeg neighbourhood, please Contact Us or Call (204) 792-6453. We track the market closely and so can you with Winnipeg Market Tracker.

Average days to sell a home 2017: 21.66
Average days to sell a home 2016: 27.33

Average sale price 2017: $552,040
Average sale price 2016: $496,655

Lowest sale price for the year 2017: $160,000 Beaverbrook Street
Highest sale price for the year 2017: $2,460,000 Handsart Boulevard

Track the Winnipeg Real Estate Market!! Free Automated Email Service allows you to track the MLS market in real time. Follow the values in any neighborhood in Winnipeg. Find out what your neighbor’s house down the street sold for. Follow Winnipeg MLS listings in real time. Visit Winnipeg Market Tracker!

This information is courtesy of:
The Michael Leclerc Home Selling Team
Royal LePage Top Producers
Winnipeg MB
Phone: (204) 792-6453

Home sales and prices up in November for River Heights, Tuxedo and Cresentwood

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A great place to relax! Click Image or Call Michael Leclerc at (204) 792-6453.
A great place to relax! Click Image or Call Michael Leclerc at (204) 792-6453.

Home sales and home prices were up in the Winnipeg neighbourhoods of Armstrong’s Point, Crescentwood, River Heights North, Middle and South and Tuxedo in November 2017 when compared to the same month in 2016.

Thirty-one homes sold in Winnipeg MLS areas 1C, 1D and 1E in November 2017 as compared to 25 in November 2016. Interestingly, total active listings in these areas were down from 35 to 33 in the same time period.

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The average days required to sell a home in Armstrong’s Point, Crescentwood, River Heights North, Middle and South and Tuxedo was up from 19 in November 2016 to 27.66 in November 2017 and the average home sale price was also up from $427,624 to $494,939 in the same year to year monthly comparison.

The lowest price paid in November 2017 was for a home on Cambridge Street that closed at $200,000. The highest price paid in November 2017 was $1,220,000 for a home on Hopwood Boulevard.

Total Active listings November 2017: 33
Total Active Listings November 2016: 35

Total Homes sold November 2017: 31
Total Homes sold November 2016: 25

Winnipeg Real Estate Information Special Request

Sales to Listing Ratio November 2017: 95%
Sales to Listing Ratio November 2016: 75.33%

Average days to sell a home November 2017: 27.66
Average days to sell a home November 2016: 19

It pays to know the average price of homes for sale in your neighbourhood, as well as that of homes that have sold, including both over-list and under-list sales. We track all Winnipeg neighbourhoods daily, which allow us to more accurately set list prices on the homes we sell, while also making intelligent offers. If you would like a Free Home Value Appraisal in Armstrong’s Point, Crescentwood, River Heights North, Middle and South, Tuxedo or any other Winnipeg neighbourhood, please Contact Us or Call (204) 792-6453. We track the market closely and so can you with Winnipeg Market Tracker.

Average sale price November 2017: $494,939
Average sale price November 2016: $427,624

Lowest sale price for November 2017: $200,000 Cambridge Street
Highest sale price for November 2017: $1,220,000 Hopwood Blvd.

Track the Winnipeg Real Estate Market!! Free Automated Email Service allows you to track the MLS market in real time. Follow the values in any neighborhood in Winnipeg. Find out what your neighbor’s house down the street sold for. Follow Winnipeg MLS listings in real time. Visit Winnipeg Market Tracker!

This information is courtesy of:
The Michael Leclerc Home Selling Team
Royal LePage Top Producers
Winnipeg MB
Phone: (204) 792-6453

Reinforcing a Strong and Prudent Regulatory Regime for Residential Mortgage Underwriting

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If you have been waiting to hear what the Guideline B20 lending changes will be, the wait is over. Published today are the new guidelines which go into effect January 2018.

A brief summary of the changes are:

  1. A new minimum qualifying rate, or “stress; test” for uninsured mortgages (mortgages where clients are putting 20% or more down).
  • Guideline B-20 now requires mortgage clients to qualify on a minimum rate based on the greater of the five year BOC rate or the contract mortgage rate +2%.
  1. Lenders are now required to enhance their loan-to-value (LTV) measurement and limits so they will be dynamic/fluid and responsive to risk.
  • This means lenders must establish and adhere to appropriate LTV ratio limits that are reflective of risk and can be updated as housing markets and the economic environment evolve.
  1. Office of the Superintendent of Financial Institutions (OSFI) is placing new restrictions on lending arrangements that appear designed to circumvent loan-to-value (LTV)limits. ie Mortgage Bundling
  • Lenders are prohibited from arranging mortgages with other lenders, including the combination of a mortgage and other lending products in any form that exceeds the institution’s maximum loan-to-value This applies to limits in its residential mortgage underwriting policy and any requirements established by law.

 

To read the announcement in full-http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx

 

The immediate effect will be the “stress test” for conventional mortgages, meaning those where your buyer has 20% down payment or more. Currently those clients can qualify at contract rate (the actual rate of their mortgage), effective 2018 they will have to qualify like they are paying 2% higher. As an example: In order to buy a $300,000 home today you would have to qualify to pay $1450/m (today’s rate at 3.2% for example), effective January 2018 you will have to qualify like you are going to pay $1780/m (3.2% +2%=5.2%)… essentially removing $330 worth of monthly buying power. To put it another way; if you qualified for $300,000 today, all things being equal you would qualify for about $250,000 next year. It’s significant.

 

Have questions, please call, text or email me anytime!

 

Track the Winnipeg Real Estate Market!! Free Automated Email Service allows you to track the MLS market in real time. Follow the values in any neighborhood in Winnipeg. Find out what your neighbor’s house down the street sold for. Follow Winnipeg MLS listings in real time. Visit Winnipeg Market Tracker!

 
This information is courtesy of:
The Michael Leclerc Home Selling Team
Royal LePage Top Producers
Winnipeg MB
Phone: (204) 792-6453