More under list sales in 1M,1Q and 1S, but bright spots exist

17/25 homes sell for under list in Grandmont Park, Richmond Lakes, St. Norbert, Richmond West, Linden Ridge and Linden Woods

Seventeen of the twenty-five homes that sold in Winnipeg MLS Areas 1M,1Q and 1S sold for under list over the past month but there were a few bright spots.

In MLS Area 1Q, which covers the neighbourhoods of Grandmont Park, Richmond Lakes and St. Norbert, two homes brought more than asking. A 700 square foot bungalow on Delorme Bay sold for $20,100 over list when it closed at $260,000, and a 1,040 square foot bungalow on Nolin Place sold for $5,100 more than asking when it closed at $280,000. A 1,780 square foot two-storey home in MLS Area 1S, which covers Richmond West, also brought $12,600 more than asking when it found new owners at $437,500. There was one over-list sale in MLS Area 1M, which includes the neighbourhoods of Linden Ridge and Linden Woods. The 2,132 square foot two-storey home sold for $100 more than aksing when it closed at $455,000.

The average home sale price in Grandmont Park, Richmond Lakes and St. Norbert was $283,971, with the median sale price coming in at $270,000. The average home sale price in in Richmond West was $431,175, with a median sale price of $437,500. The average sale price was slightly lower in Linden Ridge and Linden Woods, coming in at $437,175 with a median sale price of $437,500.

Thirteen homes are on the market in Linden Woods and Linden Ridge, with and an average list price of $524,131 and a median list price of $499,900. There are seven homes for sale in Grandmont Park, Richmond Lakes and St. Norbert, with an average list price of $379,537 and a median price of $264,900. There are five homes for sale in Richmond West, with an average list price of $477,520 and a median price of $449,900.

With under-list sales dominating the market, pricing your home correctly becomes even more important. If you would like a Free Home Evaluation for your home in Winnipeg MLS Areas 1J, 1JW or 1K, please Contact Us or Call (204) 792-6453. We track the market closely and you can too with Winnipeg Market Tracker.

There were five condo sales in MLS Area 1M and four condo sales in MLS Area 1S. All came in at under list. The average price of the condos that sold in 1M was $303,500, with the median being $275,000. The average condo sale price in MLS Area 1S was $275,250 with the median price coming in $263,500.

There are currently 25 condos for sale in MLS Areas 1M, 1Q and 1S. The average list price for the condos on the market in Linden Ridge and Linden Woods is $312,080 with the median price coming in at $297,900. The average list price on the nine condos for sale in MLS Area 1S is $276,022, with the median price coming in at $279,900. There is only one condo for sale in MLS Area 1Q and it is priced at $307,900.

Wondering what your home or condo is worth? Visit WinnipegHomeEvaluation.com or WinnipegCondoEvaluation.com for a complimentary market evaluation.