April 2024 Market Stats Winnipeg and Surrounding Areas

All markets are local and this infographic is evidence of this fact. April was an active month in the Winnipeg real estate market. The average detached single family home price for the month of April was $436,535. This is a 7% increase from April 2023. The overall yearly average for single detached homes is $418,284. There was a sale price  increase across the board - single family residential detached, residential attached and condominiums. Winnipeg is still an affordable market compared to many major Canadian cities but for those considering selling a property it’s definitely a good time. On a personal note, I’m seeing bidding wars making a comeback but not to the same extent as during the Covid years. Inventory is still low but with the 2024 Spring Market now in full swing it’s hopeful that there will be more properties to choose from perhaps letting a bit of steam out of a highly competitive market.

In order to navigate this active market successfully, it really helps to rely on the knowledge and experience of a real estate agent. As a dedicated professional I provide my clients with the peace of mind that they are receiving all of the latest up-to-date. detailed information to make an informed, confident decision. I love doing research on behalf of my clients, providing them with professional design consultative services and utilizing my past experience of living and teaching throughout Winnipeg. I can provide you with first-hand knowledge of local neighbourhoods and schools. Let me use my wealth of life and real estate related experience to help you be successful whether buying or selling. If you wish to see what happy customers have to say about my services please check out the reviews in the Testimonials section of this website. 


Agency Relationships and the Role of Your Agent

When buying and selling a home it can be confusing who represents your best interests. One of the first things I talk about with you - my client is agency relationships. As a real estate agent, I am an agent for the brokerage I represent. Even though we spend all of our time together and form a great relationship the actual formal relationship you enter into is with the brokerage. There are 3 types of agency relationships - single, limited joint and customer. The most common is the single agency relationship wherein the brokerage represents one party, limited joint can occur when 2 connected parties are involved and a customer relationship occurs when there is limited services rendered but a formal agency relationship is not formed. So single agency is when your sole interests are represented as a buyer or as a seller. Therefore, there are buyers’ agents and seller's’ agents and a real estate agent can function as both when helping you purchase a new home or sell your existing home. Limited joint agency can occur when the same brokerage represents both parties at the same time. An example of this can be if you as my buyer client purchase a home from a client of another agent within my brokerage. Disclosure of this dual interest is made and then you have the option to sign a form acknowledging this limited joint agency relationship. This situation can occur quite often and is generally not a problem when all involved are aware of the situation and act in a professional manner. The most important message I wish to share is the fact that the REAL ESTATE AGENT ON THE FOR SALE REPRESENTS THE SELLER. Therefore if you are a Buyer it is strongly recommended that you DO NOT have this agent represent you as they cannot adequately represent and  protect your interests as a Buyer. Please seek out your own agent - a Buyer’s Agent. This agent will do thorough research on the property, comparative market evaluations and help you negotiate the best price. If you were getting divorced would you choose to work with the same lawyer as your future ex spouse? This is why it’s important that you work with the real estate agent who can function in the role of Buyer’s agent. Please feel free to reach out to me anytime to discuss this situation or any other real estate related question. 


Top Winnipeg Neighbourhoods

Having lived in all quadrants of the city, I recognize that there are many great neighbourhoods in Winnipeg making it really difficult to pick just 5. So here are today’s picks and I’ll plan to post others in the future.

Tuxedo has the reputation of being one of the most desirable, exclusive and expensive areas (Old North River Heights included) in Winnipeg. Properties tend to be larger and more distinctive. One interesting fact is that there are more modern architectural homes found in this neighbourhood than neighbourhoods located in both Calgary and Chicago where I lived previously. Tuxedo definitely has a unique upscale feel with wider tree-lined streets and a more central, SW Winnipeg location. It’s also home to Assiniboine Park, Winnipeg’s most beautiful and well-known park patterned after NYC’s Central Park. This park includes an internationally recognized, architecturally designed conservatory, outdoor stage, pavilion, children’s playground, duckpond, picnic and sports areas, zoo, sculpture and floral garden, walking and biking trails and more.

Lindenwoods located in the SW part of Winnipeg, is a great established family-friendly neighbourhood. This area boasts mostly larger traditional 1980’s - 1990’s homes with more detailed exterior finishes such as brick and stone. The community is very family friendly in it’s planning and design with neighbourhood schools, community centres, sidewalks, parks and man-made lakes with picnic areas. 

Island Lakes is another family-friendly area located in SE Winnipeg. As denoted by it’s name, this neighbourhood is dotted with man-made lakes and was established in 1981. Homes range from grander to more modest in size and style. This neighbourhood has many bike trails and parks and has easy access to major highways for commuters. 

Royalwood is another southeast Winnipeg neighbourhood located just W of Island Lakes. Another highly desirable area established in 1992. This area has lots of greenery and boasts an incredible ecosystem. There are great walking, jogging and bike trails connecting to very interesting forested areas where one can discover creeks and some very unique one of a kind, custom-tree carvings. Homes tend to be larger and traditional in style. The area is quiet and tucked away from busy streets but easily accessible to major traffic routes. 

Norwood Flats in unlike any of the previously outlined neighbourhoods, located in the heart of the city but yet providing the quiet and restful feel of the suburbs, this area provides the best of both worlds. This smaller community runs along the Red River providing spectacular river city views, river home properties and walking and bike trails. This historic neighbourhood offers unique housing options with both old and new, expensive and affordable. Lots tend to be smaller with some having a common greenspace. A great family neighbourhood for those who desire an old-fashioned community feel and a higher walkability score. The “Flat's” is close to everything downtown, St. Boniface hospital, Old St. Boniface historic district with easy access to St. Vital and beautiful St. Vital Park where you can launch a boat, visit the duck pond, have a picnic or walk the many forested trails. 

Here’s the review of 5 great Winnipeg neighbourhoods. I’ve only touched upon the great offerings of each one. If you are planning a move to Winnipeg or planning a move within the city give me a call and we can talk more about the great and affordable living opportunities and other great neighbourhoods and hidden gem enclaves. 


New Year New Brokerage Old Fashioned Values

Being able to adapt to change is a crucial quality for a successful real estate agent. However, what sets apart an exceptional real estate agent is their ability to guide clients through these changes. I am thrilled to announce that I am now a part of Vivico Real Estate and I am eagerly looking forward to the endless possibilities that lie ahead. My previous broker at Realty Executives First Choice has decided to embrace the benefits of semi-retirement, and I couldn't be happier for him and his wife as they embark on this exciting new chapter in their lives. Saying goodbye to Realty Executives First Choice would have been difficult, considering the incredible work environment and the friendships I have formed there. Fortunately, I didn't have to bid farewell completely. The culture of integrity, dedication, care, and client-oriented service that I cherished at REFC continues to thrive at Vivico. The new brokers are former REFC sales agents who are committed to maintaining a full-service boutique brokerage by providing personalized and dedicated service to our clients. So here's to 2024! I am overjoyed to begin this new journey and I am excited to continue working with all of you, my amazing clients. Happy New Year!


Condo Market Beginning to Rebound in Winnipeg
There was a time not very long ago when condominium units would sit on the market for many days and months without a sale. The pandemic has changed the landscape considerably. With the increased demand for single family detached properties and lower inventory, home buyers are now reconsidering the benefits of condo living. Newer projects are now offering many amenities such functional and aesthetically-pleasing common outdoor and indoor spaces, well-laid out open and versative floorplans, indoor parking (Who wouldn't find that appealing living in Winnipeg?) and countless other full-service type options. The condo is definitely making a comeback with demand increasing and even multiple offers to purchase on many updated premium units. So whether considering a condo sale or purchase this may be a time to take action since home ownership and building equity can definitey be a benefit over spending your hard-earned dollars on rent each month.
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