average home prices in Elmwood Park Archives

Listings up, home sales and prices down for East Kildonan, Elmwood

March 23, 2018 By Winnipeg Real Estate Leave a Comment

Lovely 4 bedroom family home in River Park South. Click image for more info or call Michael Leclerc 204-792-6453.

MLS listings up, while home sales and prices went down in the month of February 2018 for the Winnipeg neighbourhoods of MLS areas East Elmwood, East Kildonan, Elmwood, Elmwood Park, Fraser’s Grove, and Glenhelm.

The average selling price of homes went down approximately 6.51% with the average being $323,729 compared to $346,296 in February 2017. On average a residence took approximately 9 days less to sell compared to the average of 18.25 days in February 2017.

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There were 28 active listings in Winnipeg MLS areas 1A, 1B, 1C and 1D at the end of February 2018 as compared to 27 at the end of February 2017, and 14 homes sold in February 2018 as compared to 23 in 2017. The sales-to-listing ratio decreased from 98 percent in February 2017 to 48.25 percent in February 2018.

The highest price paid in 2018 for a home in the neighbourhoods of East Elmwood, East Kildonan, Elmwood, Elmwood Park, Fraser’s Grove, and Glenhelm was $480,000 for a home on Cordova Street. The lowest sale price belonged to a home on Mulvey Avenue, which closed at $160,000.

Total active listings February 2018: 28

Total active listings February 2017: 27

Total homes sold February 2018: 14

Total homes sold February 2017: 23

Sales to listing ratio February 2018: 48.25%

Sales to listing ratio February 2017: 98%

Average days to sell a home February 2018: 9.25

Average days to sell a home February 2017: 18.25

Average sale price February 2018: $323,729

Average sale price February 2017: $346,296

Lowest sales price February 2018: $160,000 Mulvey Avenue

Highest sales price February 2018: $480,000 Cordova Street

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This information is courtesy of:

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

Upper End Market a High Point in August

September 8, 2017 By Winnipeg Real Estate Leave a Comment

WINNIPEG – What stood out in August was the performance of the higher end of the market where residential-detached sales above $500,000 were up 32% over August 2016 and 7 sales eclipsed 1 million dollars in value. There were some other high end commercial sales with a motor inn and apartment complex each selling for over $1 million.

MLS® unit sales of 1,288 were down 5% from August 2016 – the best August on record. However sales in August were up nearly 6% over the 10-year average for the month of August. As a result of the upper end market performing so well and residential-detached sales under $300,000 down 35% from August 2016 MLS® dollar volume increased 4% to $378 million.

Year-to-date MLS® unit sales activity is marginally ahead of 2016 with a total of 9,796 sales. Dollar volume on the other hand has risen 5% over 2016 to $2.86 billion.

At the end of August inventory of 2,469 residential-detached properties is down 11% while condominium supply of 855 units is up 5% in comparison to the same time last year.

While 2017 has been tougher on first-time buyers in particular purchasing a residential-detached property, other property types have experienced gains this year due in part to them making alternative choices. Sales of condominiums, duplexes, resort properties and single-attached have all had single-digit percentage increases over the same period in 2016. Town house sales have risen the highest percentage at 11%. It should also be noted commercial property sales are up 9%.

The most active price range for residential-detached sales in August was from $250,000 to $299,999, 20% of total sales. Another 30% of sales were evenly split percentage-wise between the $200,000 to $249,999 and $300,000 to $349,999 price ranges. The highest priced residential-detached property sold was $1,700,000.

Condominium sales showed very similar percentage market share in the three price ranges from $150,000 to $299,999 with the lowest price range of $150,000 to $199,999 slightly ahead with 24% of total sales. The highest condo sales price was $439,900.

This information is courtesy of:

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

April MLS® Sales Fall Off First Quarter Pace

May 10, 2017 By Winnipeg Real Estate Leave a Comment

April Residential MLS Detached Sales

WINNIPEG – After a solid first quarter of MLS® sales activity, April sales were more subdued. Unit sales of 1,300 were down 5% from a record April in 2016 but still up 2% over the 10-year average for this month.

MLS® dollar volume decreased 1% in April however for the first four months is up 2% to $1.08 billion. New MLS® listings in April fell 5% while the inventory or active listings at the end of April is down 7%.

The percentage of new listings being converted to sales is in line with April 2016 when the equivalent of over 53% of the 2,439 listings entered on the MLS® in April were sold.

The drop off in sales activity compared to April 2016 was most noticeable in the first-time buyer market segment. WinnipegREALTORS® has identified a concern regarding the new stress test on insured mortgages and its impact on buyer qualification.

For residential-detached properties under $300,000 there was a 15% decrease in sales activity in comparison to last April. On the other hand upper price ranges in residential-detached outperformed April 2016.

There was also a decline in condominium sales in the price ranges from $150,000 to $249,999.

Another new development this year which helped propel higher end sales was the City of Winnipeg’s impact fee which came into effect on May 1, 2017. There have already been 15 sales of homes valued over $1 million and six of those are new or to be built homes in the Waverley West MLS® area. It is clear buyers are advancing their plans to commit earlier this year to avoid paying the impact fee ($500 for every 100 square feet).

It is also apparent from examining April sales activity that vacant lots in rural municipalities benefited from the onset of higher fees in Winnipeg as there was a jump of 27% in vacant lot sales from April 2016. The vast majority of those are located outside Winnipeg.

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 Crescentwood, River Heights, Tuxedo, Fort Garry, Fort Richmond, Linden Ridge, Linden Woods, Fort Whyte, Whyte Ridge, St. Norbert, Bridgewater Forest, Assiniboine Landing, Headingley, St. Boniface, Norwood, St. Vital, River Park South, Windsor Park, Southdale, Island lakes, Royalwood, Sage Creek, East Kildonan, Valley Gardens, North Kildonan, Eaglemere, Transcona, Birds HIll, East st. Paul, Pritchard Farm, West Kildonan, Riverbend, River Grove, Garden City, Maples, Polo Park, Deer Lodge, St. James, Silver Heights, Crestview, The Oakes, West St. Paul please Contact Us or Call (204) 792-6453. We track the market closely and you can too with Winnipeg Market Tracker.

In terms of residential-detached sales activity while the most active price range remained from $250,000 to $299,999 at 20% the next busiest from $300,000 to $349,999 was not far off at 16%.

The average days to sell a home in April was 25 days, one day quicker than the record-setting April 2016. The sales- to -list price ratio in April was 99.19%, an improvement from the 98.59% in April 2016.

Condominium sales continue to be most active in the $150,000 to $199,999 price range which represented 30% of total sales. Next busiest at 16% was the $200,000 to $249,999 price range. Average days to sell a condo in April was 40 days, one day quicker than April 2016.

This information is courtesy of:

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

Winnipeg March MLS® SALES UP 5%

April 12, 2017 By Winnipeg Real Estate Leave a Comment

In March, 1,111 MLS® listed properties sold in the Greater Winnipeg market region, which is an increase of 5% over March 2016 and 8% over the 10-year average for this month. Dollar volume rose 10% to $326 million. This is the first time in March there has been over $300 million in MLS® sales transactions.

MLS® listings entered in March were right in line with last year at 2,200 though active listings or inventory of 3,903 listings going into April is down 9% from 2016. This is largely due to a very active 2016 which left less listings carrying over into 2017.

Due to a good result in March where sales start to accelerate and are significantly higher than either of the first two months of the year, first quarter sales of 2,438 are in line with last year and 5% ahead of the 10-year average for the first three months. Dollar volume of close to $700 million is at its highest level ever for the first quarter and up over 4% from the same period in 2016.

Looking more closely at single family home sales in the first quarter in comparison to the same period in 2016 they are down less than 2% while condominiums are on a record setting pace with an increase of 18%. Condos may well be benefiting from their lower price point in comparison to single family homes as anyone requiring an insured mortgage with less than 20 per cent down must qualify for the higher Bank of Canada 4.64 % 5-year term rate.

Another point worth noting with regard to March specifically is explaining why the average residential-detached selling price was just under $320,000, noticeably higher than the 2016 year- end average of $302,707. It was the result of what is called a compositional shift in sales activity where March had a real overweight in higher priced sales. For example, there was a 25% increase in sales over $350,000 and above compared to March 2016.

If you take the median price (mid-point of all sales) of residential-detached homes in March 2017 there is a far closer alignment to March 2016 – $285,500 versus $284,000.

For the first three months this year the average residential-detached selling price is $307,977, a 2.4% increase over the same period in 2016. As for condominiums, the average selling price for the first quarter is $244,406, a 7.9% increase over first quarter 2016.

Residential-detached unit sales in March were more spread out amongst a number of price ranges with the highest at 18% of total sales from $250,000-$299,999 and the $200,000-$249,999 at 15%. A close third at 14% was from $350,000-$400,000.

March condominium unit sales at nearly one in four sales were from $150,000-$199,999 however there were a number of price ranges with sales activity in the teens. Amongst them, the $250,000-$299,999 was highest at 18%.

This information is courtesy of:

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

East Kildonan Sales Down in March

April 20, 2016 By Winnipeg Real Estate Leave a Comment

Perfect Family Home in Elie — 4 Bedroom Home in Elie Manitoba, click image for more info or call Michael at 204-792-6453

East Kildonan, North Kildonan and Transcona March MLS sales were down 17.8% while the average selling price was up 3.2% in comparison to the same month last year. The MLS inventory was up with 3.3% more to choose from at this time than last year. On average a residence took 4 more days to sell in comparison to 24 days March 2015.

Active listings, March 2016: 247

Active listings, March 2015: 239

New listings for the month of March 2016: 169

Homes sold for the month of March 2016: 120

Homes sold for the month of March 2015: 146

Sales to listing ratio, March 2016: 61%

Sales to listing ratio, March, 2015: 72%

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 East Kildonan, Fraser’s Grove, Valhalla, Valley Gardens, North Kildonan, River East, Algonquin Park, All Season Estates, Eaglemere, Oakwood Estates, Harbour View South, Kildonan Meadows, Lakeside Meadows, Mission Gardens, Transcona, Canterbury Park, South Transcona, Birds Hill, East St. Paul, Pritchard Farm, and Silver Fox Estates, 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, March 2016: 28

Average days to sell a home, March 2015: 24

Average sales price, March 2016: $315,224

Average sales price, March 2015: $305,419

Lowest sales price for the month: $60,000, Martin Avenue East

Highest sales price for the month: $875,000, Deerledge Trail

This information is courtesy of:

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

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

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