This is the latest update on the Winnipeg Real Estate Market for December 2020. Tips for home owners, and a few reasons why home buyers should not stop their search, even during the cold winter months.
Description: In this episode we are going to talk about the latest real estate market update for Winnipeg's housing and condo market. We are going to touch on a few reasons why home buyers SHOULD consider buying a home in wintertime and share some money saving tips for home owners or those who want to become one.
ShowNotes at https://boknows.homes/143
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In today's episode, Number 143, our main topic will be the most recent Winnipeg real estate market report. We'll look at some reasons why buyers might consider continuing their housing hunt thru the winter, and some money saving tips for home owners.
As (hopefully) most of you know, I'm a professional real estate agent, specializing in helping home and condo buyers and sellers in the Winnipeg market area. Thats how I earn my living and I absolutely love what I do.
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Wintertime is usually when home buyers take a break. I get it....it's cold, there is xmas and new years, its winter vacation time. So many buyers put their home search on hold. But to paraphrase Jonathan Sacks......"When everyone else is buying, SELL"... Looking at this another way.....when everyone else stops buying.... BUY. The lack of buyer competition is just one of 7 reasons why buyers might consider continuing their home buying journey. IF you can find a home that fits your needs.... don't wait til spring, when a new flock of buyers enter the market and create more bidding wars.
Go to: https://stories.winnipeghomefinder.com/7-powerful-reasons-to-buy-a-home-in-winter
Stats on Winnipeg housing market. How many listings are available, how many have sold over the past month? Are we in a buyers market, or sellers market?
Saving money by using appliances in a smarter way. Washing machines, refrigerators, stoves and dishwashers can be energy and money hogs...... here are a few tips to use them more wisely.
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Cert. Luxury Home Marketing Specialist
Accredited Buyer Representative
[00:00:00] Bo Kauffmann - REALTOR: [00:00:00] Welcome listeners today. We're going to talk about the latest Winnipeg real estate market update. We'll touch on seven reasons why home buyers should continue their home search even in winter and give you some solid money saving tips for homeowners all in the next 15 minutes on Winnipeg's real estate podcast.
Announcer: [00:00:22] You're listening to the bone knows real estate podcast tips and advice for home buyers, sellers, and owners with award winning Remax agent Beau Kaufman.
Bo Kauffmann - REALTOR: [00:00:36] So if you've been listening to this podcast for a while, you know that the first episode of each month is when we give you the market stats for Winnipeg's housing market. How many listings are there? How many houses have sold over the last month? What's the immediate future look like? Are we in a buyer's market or seller's market?
That kind of stuff. After that, I'm going to give you some money saving tips for homeowners, but first let's talk about some [00:01:00] reasons why buyers might want to keep looking for houses, even in the winter. Yes, winter is coming and with it, a normal change in the real estate market. I'll give you an example.
Last year, 2019 may and June in that two month period, we sold 1,544 houses in Winnipeg, seven months later in winter that's December and January, we sold a combined 564 houses. That is a 63% drop, which is totally attributable to the changing seasons. It's colder weather. It's not as comfortable to go out.
Look at houses. You get home from work. And it's already dark, who feels like looking at houses in these conditions on top of that, it's the holiday season, new year's winter vacations. Ah, you know what? Let's put a search on hold and start again in the spring, but that's exactly one of the great reasons you should keep looking even in the winter.
I'm reminded of a quote by British rabbi and philosopher, Jonathan sacks, who said, if everyone else is selling [00:02:00] by what he's saying is that do what everybody else is not doing. So you can adjust that saying by going, if everyone else stops buying you, go ahead and buy. In my latest post. I'll give you seven compelling reasons by home.
Buyers should keep looking through the winter. You can find that by simply going to Bono's dot homes slash stories. You can also catch a link in the show notes and it's perfectly formatted for mobile reading throughout the episodes. You're going to hear me mention that links are available in the show notes, what our show notes and where are they?
Very simple. Go to Boknows.homes Slash podcast. That is the website for this podcast. This episode in particular sits at Bono's dot Holmes slash one four three. And now let's take a look at the Winnipeg real estate market as it is at the very beginning of December, 2020. So remember that this is December 1st.
So when we're talking about sales records, we're talking [00:03:00] about what we sold during the month of November. Previous year at this time period. So during the month of November, 2019, we sold a total of 351 houses compare that to 633 this year. So sales again, once again, our way up when compared to 2019 most expensive house this month sold for 1.7 million and Headingley.
And in fact, during the month of November, we sold 10 houses at a million dollars or more. So let's go into it in a little bit more detail. Again, December 1st, 2020. Last year. At this time we had 1,420 houses available. This month, we have 754 virtually half as many houses on the market as there was last year, but sales are almost twice as much.
So you can see this as a, not a sustainable situation. Buyers far outpaced the listings. so 754 is down a little bit from the previous month yet when we had 955 houses breaking it down across [00:04:00] price ranges. Entry-level houses under 250,000. Last year, we had 410 guests here. We've got 227 mid range, 250 to 500,000.
Last year we had nearly 700 on the market. Right now we have 306 and luxury homes. 351 last year, December 1st. Today 221 incidentally starting in January, 2021. I'll be doing something a little different. I will be getting a separate luxury housing market report that's for all houses over 500,000 in Manitoba.
The luxury home marketing Institute classifies anything over 500,000 as a luxury home. So I'll be delving a little deeper into the details in this price range. Okay, so now let's take a closer look at the sold numbers. During the month of November entry level. Last year, we sold 105 this year, 142 mid range process.
Last year, during the month of November, we [00:05:00] sold 208. This year, 314, and even luxury homes. Last year we sold 38. This month during November, we sold 77. That's basically twice as many as last year, same time. So we can see that the number of available listings are about half and sales are about double. How do we put that on paper?
How does that look in a graph form? That's what we come up with a quotient called days of inventory. Just basically explains if there are no more listings coming to market today. At the current pace of sale, how long would it take us to sell everything that's out there, here, the lower, the number, the harder the market.
So entry level houses under 250,000 last year, it would've taken us 117 days to sell everything that's out there. This month, it's just 48 days, super hot, but it's even harder in the mid range prices. 250 to $500,000. There was a house by the way. Last week, [00:06:00] 1200 foot bungalow in river Heights listed at 400.
Abby was 430,000. It sold for $500,000. This was a 70 year old house it's been redone done up to the nines. Look really great, but a half million dollar price tag. So in that price range last year, we had a hundred days of inventory. This month, 29. So in other words, if nobody else listed their house in that price range going forward, it wouldn't even take us a month to run out of everything that's out there.
And now luxury homes. They're too much hotter market than normal. Last year, 277 days to sell everything. That's the level of inventory this month. 86 days. That's probably the hottest that I've seen it in that price range. Now the one step that seems to be bucking the trend a little bit, and this is good news is how many new listings are coming to market.
Last year, during the month of November, we had 598 houses being listed in November. This year. That number is 662. So at least there is a few more [00:07:00] listings. we need a lot more to satisfy all the buyer needs that are out there. In a normal year. I might've advised people in the past. If you want to sell your house.
Wait a couple of months, wait till the spring market, because spring is King when it comes to selling and Winnipeg. But as you can see, this is not a normal year. Listings are way down, sales are way up. So even now, even in December, it's still a good time to list your house. if you look to sell, give me a shout and let's take a look at what the market is doing in your specific neighborhood and your specific price range, because this report is all good and but it is an overview of the entire market.
Of Winnipeg. And as I've said before, if you own a bungalow in trans Kona, your market may be completely different than out of a townhouse in st. James. So if you're thinking of selling, gimme a shout right now, both Hoffman two Oh four, triple three, two two zero two. And let's take a look at what the market's doing in your specific area.
Are you thinking of selling your Winnipeg house or condo work with the listing agent who [00:08:00] goes beyond the MLS Bo Kaufman of Remax performance has a marketing plan. That is second to none. Book your free marketing planning evaluation today. Beau knows real estate. At the beginning of this episode, I talked about, the fact that buyers should continue looking and searching for their home even in the winter months.
But as you can see by the lack of inventory that might not work, you might not be able to find the house that you're looking for. And for a variety of reasons, buyers might want to hold off until the spring. If you do that, there's still something that you should do right now. And my friend, Mike Schroeder of mortgage architects, and I just finished posting a video on YouTube about the two things that home buyers should do.
The first one is going to save them money and make the whole buying process easier. And the second one is actually going to put perhaps thousands of dollars of new money in their pocket stuff, that money that they had not expected. To get those tips, go over to my YouTube channel at [00:09:00] youtube.com/beau Kaufman, the leakers in my show notes.
And we're also going to use that audio from that interview and posted here next week. It's about a 10 minute discussion about what buyers should do at least three months before buying a house. So if you're looking at buying in the spring, those are the things you should be doing right now to make the buying process easier and put new money in your pocket.
And speaking of saving money, here's a couple of tips. If you are a homeowner or at least somebody who has to pay their own bills, water, hydro, and heat, here's a couple of things on how to make your appliances work harder and more efficiently. for a washing machine, it's advised that you don't wash half loads because two half loads actually take more water and more energy than one full load.
as well as set the setting as cold water as possible because every drop of hot water has to first go through the hot water tank to be heated and that's extra costs. For stoves instead of a stove, if you can use a microwave, it [00:10:00] uses one quarter of the power. If you don't like microwaves and some people are against it, try getting a toaster oven because it's using a lot less energy, a lot less heat for a smaller space or get one of those Ninja foodies.
I just got one there. They're absolutely. Awesome. I'm using it for everything you, an air fry, French fries and chicken breasts in a matter of minutes. And it's really good. It is as good as they advertise fridges, set your fridge as, as low as possible. That is as warm as possible and work up from there.
Same with the freezer, especially in the winter time. You might not need it as cold as you have it set in the summertime. And dishwashers actually use less water than if you fill the sink with water and wash the dishes that way. So try some of these things, hopefully save you a few bucks. And, like I said, I'm really excited about next week's episode because we're going to do the condo market report.
We're going to post the episode with Mike and talking about what buyers should be doing right now. [00:11:00] I hope you've enjoyed listening to this episode as much as I've enjoyed creating it. Cause I really do love it. If you found the information helpful, why not download my free podcasting app that way you never miss another episode and I've made it super simple to just go to Bono's dot homes slash apps.
That's APPS available for Apple and Android devices. If you just want to see the show notes or read the transcript, go to Bono's dot homes slash one four, three. That's this episode's number there. You can also click on the little microphone button and record a question or comment. And finally, please give this podcast a five star rating again with me.
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[00:12:00] Announcer: [00:12:00] You've been listening to Bo Kauffmann of Remax performance Realty. Are you thinking of buying or selling a house or a condo in Winnipeg call Bo at (204) 333-2202. Remember Bo knows real estate.