North Kildonan real estate now…and then, 2004.

6 Continental Avenue was the highest home sale in 2014 for a bi-level.

6 Continental Avenue was the highest home sale in 2014 for a bi-level.

292 Edelweiss Crescent was the lowest sale in 2004 for a two storey home.

292 Edelweiss Crescent was the lowest sale in 2004 for a two storey home.

63 Radium Cove was the highest sale in 2004 for a two storey home.

63 Radium Cove was the highest sale in 2004 for a two storey home.

121 Edelweiss Crescent was the lowest sale in 2014 for a two storey home.

121 Edelweiss Crescent was the lowest sale in 2014 for a two storey home.

51 Delbrook Crescent was the high sale in 2014 for a two storey home.

51 Delbrook Crescent was the high sale in 2014 for a two storey home.

344 Edison Avenue was the lowest sale bungalow in 2004.

344 Edison Avenue was the lowest sale bungalow in 2004.

72 Malcana Street was the highest sale bungalow in 2014.

72 Malcana Street was the highest sale bungalow in 2014.

310 Devon Avenue was the lowest sale bungalow in 2014.

310 Devon Avenue was the lowest sale bungalow in 2014.

31 Arbroath Drive was the highest sale bungalow in 2004.

31 Arbroath Drive was the highest sale bungalow in 2004.

254 Ragsdill Road was the highest home sale in 2014 for a bi-level.

254 Ragsdill Road was the highest home sale in 2004 for a bi-level.

1552 Rothesay Street was the lowest home sale in 2004 for a bi-level.

1552 Rothesay Street was the lowest home sale in 2004 for a bi-level.

130 Bret Bay was the lowest home sale in 2014 for a bi-level.

130 Bret Bay was the lowest home sale in 2014 for a bi-level.

I thought it would be interesting to research how things have changed today versus ten years ago with the North Kildonan real estate home market and home values.  May you enjoy this real estate information as much as I enjoyed doing the neighborhood research on home values:

Average days to sell a home in 2004:  13

Average days to sell a home in 2014:  26

Homes listed to sales ratio in 2004:  81%

Homes listed to sales ratio in 2014:  64%

Average sales price in 2004:  $149,000.00

Average sales price in 2014:  $297,000.00

Thinking of selling, buying, or investing in real estate?  Call Rolf Hitzer from Royal Lepage Top Producers at 204-989-6900, or email hitzer@aol.com.

 

North Kildonan Real Estate, November 2014, market statistics.

277 McKay Avenue

277 McKay Avenue

27 Carrie Cove

27 Carrie Cove

Overall the real estate activity for Winnipeg saw listing inventory up by twenty percent compared to 2013.  When looking back two years ago with properties listed for sale during the same month inventory is up by fifty-four percent.  Meanwhile the number of homes sold throughout Winnipeg in November only dropped by four percent, not too bad at all considering the amount of extra housing inventory.  Let’s review how the North Kildonan real estate market performed for the month of November, by the numbers:

Active listings, November 2014:  27

Active listings, November 2013:  21

Synopsis:  The amount of homes for sale mirrored the overall Winnipeg market in North Kildonan with an increase of twenty-two percent versus the previous year.

New listings for the month, November 2014:  15

New listings for the month, November 2013:  12

Homes sold for the month, November 2014:  17

Homes sold for the month, November 2013:  24

Synopsis:  The first time in recent months where there is a drop in home sales by thirty percent.  Not a trend the North Kildonan neighborhood wants to have in the months ahead for the area.

Sales to listing ratio, November 2014:  64%

Sales to listing ratio, November 2013:  109%

Homes sold above asking price, November 2014:  3

Homes sold above asking price, November 2013:  2

Average days to sell a home, November 2014:  26

Average days to sell a home, November 2013:  30

Synopsis:  Given the change in sales to listing success compared to 2013, and until a month ago, average days to sell is still reasonable and surprisingly better than a year ago.

Average sales price, November 2014:  $296,700.00

Average sales price, November 2013:  $300,700.00

Lowest sales price for the month:  277 McKay Avenue

Highest sales price for the month:  27 Carrie Cove

Expert opinion:  It was only a matter of time as we come to a close for 2014 that the North Kildonan real estate market would show signs of slowing down.  Historically for Winnipeg at this time of year it really represents normal real estate trends.  As the numbers revealed for the North Kildonan neighborhood, life in real estate slows down too for the area.

    

North Kildonan Real Estate versus Winnipeg Real Estate, 2014.

North Kildonan homes.

North Kildonan homes.

Like last year, I had compiled the average sales price for neighborhoods throughout Winnipeg.  Plus the average days to sell a home and the sales ratio versus homes listed for sale on the real estate market and how other Winnipeg districts and how their property values compare to the North Kildonan real estate home values.

Here are the results, in no particular order:

1.)  Fort Rouge average home value:   $259,800.00

-  average days to sell:  17

-  homes listed to sales ratio:  74%

2.)  River Heights average home value:  $362,000.00

-  average days to sell:  20

-  homes listed to sales ratio:  70%

3.)  Charleswood average home value:  $372,800.00

-  average days to sell:  23

-  homes listed to sales ratio:  75%

4.)  Fort Richmond/Waverly Heights average home value:  $337,600.00

-  average days to sell:  16

-  homes listed to sales ratio:  81%

5.)  St. Vital average home sales:  $273,300.00

-  average days to sell:  18

-  homes listed to sales ratio:  72%

6.)  River Park South average home values:  $355,800.00

-  average days to sell:  25

-  homes listed to sales ratio:  72%

7.)  Windsor Park average home values:  $275,500.00

-  average days to sell:  16

-  homes listed to sales ratio:  82%

8.)  Southdale average home value:  $352,600.00

-  average days to sell:  18

-  home listed to sales ratio:  75%

9.)  Elmwood average home value:  $188,000.00

-  average days to sell:  18

-  homes listed to sales ratio:  75%

10.)  East Kildonan average home value:  $249,700.00

-  average days to sell:  20

-  homes listed to sales ratio:  78%

11.)  Valley Gardens average home value:   $293,400.00

-  average days to sell:  25

-  homes listed to sales ratio:  60%

12.)  Kildonan Meadows/Lakeside Meadows/Harbourview South average home values:  $341,700.00

-  average days to sell:  28

-  homes listed to sales ratio:  63%

13.)  Transcona average home value:  $269,000.00

-  average days to sell:  25

-  homes listed to sales ratio:  74%

14.)  East St. Paul average home value:  $563,800.00

-  average days to sell:  35

-  homes listed to sales ratio:  38%

15.)  West Kildonan average home value:  $220,000.00

-  average days to sell:  24

-  homes listed to sales ratio:  70%

16.)  Garden City average home value:  $273,600.00

-  average days to sell:  15

-  homes listed to sales ratio:  83%

17.)  Maples average home value:  $301,200.00

-  average days to sell:  20

-  homes listed to sales ratio:  64%

18.)  Tyndall Park/Garden Grove average home values:  $277,000.00

-  average days to sell:   22

-  homes listed to sales ratio:  72%

19.)  St. James average home value:  $256,600.00

-  average days to sell:  19

-  homes listed to sales ratio:  80%

20.)  West End/Wolseley average home values:  $255,000.00

-  average days to sell:  21

-  homes listed to sales ratio:  73%

21.)  North Kildonan average home value:  $305,800.00

-  average days to sell:  20

-  homes listed to sales ratio:  76%

The information for this article was made available from the Multiple Listing Service and as provided by the Winnipeg Realtors Association from January 1, 2014, to October 31, 2014.

Planning on selling, buying, or investing in real estate?  Then hire the services of a real estate professional.  Do you wish to stay current on the ever-changing North Kildonan real estate market?  Then please opt to follow this blog page.  For your real estate needs call Rolf Hitzer with Royal Lepage Top Producers at 204-989-6900.  Or, email hitzer@aol.com.     

 

North Kildonan Real Estate, October 2014, market statistics.

130 Bret Bay

130 Bret Bay

58 Popko Crescent

58 Popko Crescent

 

Home sales throughout the City of Winnipeg dropped by seven percent year over year.  If you compare the real estate activity to five years ago for the same month; the number of homes sold have dropped by forty-eight percent…yikes!  Let’s see how the North Kildonan real estate market performed for October, by the numbers:

Active listings, October 2014:  32

Active listings, October 2013:  38

Synopsis:  A decline of sixteen percent of available homes for sale versus 2013 housing inventory on the North Kildonan real estate market.

New listings for the month, October 2014:  17

New listings for the month, October 2013:  16

Homes sold for the month, October 2014:  26

Homes sold for the month, October 2013:  22

Synopsis:  The strong neighborhood real estate market trend continued again into October.  Unit sales were up by fifteen percent for the month.  Bravo, North Kildonan!

Sales to listing ratio, October 2014:  81%

Sales to listing ratio, October 2013:  59%

Homes sold above asking price, October 2014:  5

Homes sold above asking price, October 2013:  8

Average days to sell a home, October 2014:  25

Average days to sell a home, October 2013:  26

Synopsis:  The North Kildonan real estate market had better success in selling a home this year compared to last year.  Only twenty percent of the homes actively listed for sale sold above asking price.  This is a very noticeable change, not only compared to last year, but also over the past few months.  Home buyers are less willing to place a bid on a home because they have been exercising patience and are now willing to wait for the right home instead of competing for the right home.

Average sales price, October 2014:  $294,707.00

Average sales price, October 2013:  $279,383.00

Lowest sales price for the month:  130 Bret Bay

Highest sales price for the month:  58 Popko Crescent

Expert opinion:  I remain tickled pink with the real estate market performance for the North Kildonan neighborhood.  The year is coming to another successful end for the North Kildonan district.

Planning on selling, buying, or investing in real estate then hire the services of a real estate professional.  Should you wish to stay current on the ever-changing North Kildonan real estate market?  Then please opt to follow this blog page.  For your real estate needs call Rolf Hitzer with Royal Lepage Top Producers at 204-989-6900.  Or, email hitzer@aol.com.

    

When is the best time to purchase a home?

Rolf Hitzer

Rolf Hitzer

This is a question I have been asked often.  I can answer this question several different ways because of the complex real estate variables and how they can affect you.  Such as, are you planning on buying a home?  Perhaps you are considering to build your wealth by investing in real estate?  Or, maybe you are considering buying a recreational property?  I can go on with how I could answer when the best time really is to purchase a home in today’s real estate environment.

Before I allow my myself to have an in-depth and brilliant real estate “nugget” to pass onto to you, I will keep my answer simple today.  The best time to buy real property of any kind is when…you are ready!

And, this is regardless of the current real estate market conditions.  Why?  Because nobody can predict how property values will rise, or decline, in the months ahead.  What I do know is over time real estate will increase in equity and real estate is, and continues to be, the best investment opportunity to grow your personal wealth.

Now, if you were going to pick the best home buying moment, in Winnipeg, our slowest month’s for the number of homes sold happen in November, December and January, historically.  Why is that?  Well, most home buyers don’t want to move during our coldest month’s of the year.  How logical is that?  Understand this.  The best time to buy a home in Winnipeg is during the slowest time of year.

This will position you to possibly have the greatest financial opportunity for real property acquisitions when compared to the busier home buying months where you will likely pay top dollar for a home.  Or, possibly be faced with a possible bidding war on the home you really want to own.  Understand the potential savings of your home purchase price, plus having far less to no competition for the home you wish to own will far outweigh the perceived inconvenience of a winter move.  In fact, with what you may save in your purchase price will allow you to now hire a mover to deal with lugging your furniture and belongings through the snow drifts instead of you.

Take advantage of the expertise when you have a real estate professional working for you.  Sometimes you can purchase the home you want today with a lengthy possession date thereby allowing you to still move in the spring, as an example.  If you are planning on buying a home over the next year then take advantage of the potential real estate opportunities because of market timing.  Financially it is really worth it.

For a complimentary one hour real estate consultation, call Rolf Hitzer at Royal Lepage Top Producers, 204-989-6900.  Or, email hitzer@aol.com.

North Kildonan real estate market statistics, Q3, 2014.

81 John Huyda Drive.

81 John Huyda Drive.

Active and new listings were virtually at par compared to one year ago.  However, homes sold over this past third quarter did have an increase of thirty percent.  North Kildonan real estate was hot!  What struck me as odd was home equity only had a slight increase, less than half of one percent.  Considering the added number of homes sold property values held fast versus 2013 North Kildonan home values.  Here is an overview of the North Kildonan real estate activity for the third quarter, by the numbers:

Active listings Q3, 2014:  121

Active listings Q3, 2013:  117

New listings Q3, 2014:  60

New listings Q3, 2013:  62

Homes sold in Q3, 2014:  89

Homes sold in Q3, 2013:  63

Sales to listing ratio Q3, 2014:  78%

Sales to listing ratio Q3, 2013:  62%

Homes sold above asking price Q3, 2014:  18

Homes sold above asking price Q3, 2013:  27

Average days to sell Q3, 2014:  21

Average days to sell Q3, 2013:  21

Average sales price Q3, 2014:  $297,138.00

Average sales price Q3, 2013:  $296,434.00

Highest sales price Q3:  81 John Huyda Drive

Lowest sales price Q3:  222 Cheriton Avenue.

Expert opinion:  Despite the evolving housing market in Winnipeg making a shift towards balanced market conditions North Kildonan real estate remained strong and favoured home sellers.  Three months ago a bullish housing market had ben predicted for North Kildonan and the foundation for my opinion was low interest rates, stable employment and continued buyer demand for our neighbourhood..

Now we are headed into the slowest quarter of the year for the resale housing market.  It will be interesting to see if the North Kildonan real estate market momentum will continue to the end of 2014?

Planning on selling, buying, or investing in real estate then hire the services of a real estate professional.  Should you wish to stay current on the ever-changing North Kildonan real estate market; then please opt to follow this blog page.  For your real estate needs call Rolf Hitzer with Royal Lepage Top Producers at 204-989-6900.  Or, email hitzer@aol.com.

North Kildonan Real Estate, September 2014.

229 Cheriton Avenue

229 Cheriton Avenue

106 Mitchelson Way

106 Mitchelson Way

The overall real estate activity for Winnipeg continues to shift towards a balanced real estate market.  This is confirmed with only fifty percent of the homes sold on the market in September throughout the city.  This represents the lowest sales to listing ratio over the past five years.  Let’s see how the North Kildonan real estate market performed in September, by the numbers:

Active listings, September 2014:  42

Active listings, September 2013:  47

Synopsis:  Resale housing inventory is down twelve percent compared to a year earlier.  It is also one of the few months this year where the listing inventory for North Kildonan is down versus 2013.  Meanwhile there was an increase of active homes for sale of twenty-one percent for the overall Winnipeg real estate market.  North Kildonan continues to have a more favourable real estate market.

New listings for the month, September 2014:  22

New listings for the month, September 2013:  27

Homes sold for the month, September 2014:  30

Homes sold for the month, September 2013:  19

Synopsis:  New listings are down twenty-three percent while home sales are up fifty-eight percent.  Although one month does not make a year; North Kildonan real estate remains exceptionally strong despite how the Winnipeg market had performed last month.

Sales to listing ratio, September 2014:  74%

Sales to listing ratio, September 2013:  49%

Homes sold above asking price, September 2014:  4

Homes sold above asking price, September 2013:  8

Average days to sell a home, September 2014:  14

Average days to sell a home, September 2013:  24

Synopsis:  It is certainly conflicting information.  Seventy-four percent of the homes listed for sale sold in September, very strong.  But, only four homes sold above the asking price and this statistic shows a decline of fifty percent versus last year.  This has me scratching my head a little?  In the end, if you wish to sell your home going in the final quarter of the year you must price your property in line with the current market values.

Average sales price, September 2014:  $299,000.00

Average sales price, September 2013:  $287,675.00

Lowest sales price for the month:  229 Cheriton Avenue

Highest sales price for the month:  106 Mitchelson Way

Expert opinion:  Over the past thirty days the North Kildonan real estate market was fantastic when compared to the real estate activity one year ago for the same month.  Likewise, the North Kildonan neighbourhood really out-performed the Winnipeg real estate market.  Last month North Kildonan real estate was trending towards a more balanced market, but it is clear all bets are off on that trend this past September.  I am now hesitant to make a prediction while I gaze into the blurry crystal ball for October.  Everything is indicating a stronger than normal real estate activity for October and our fall market in North Kildonan.