59 Tyler Bay

Welcome to 59 Tyler Bay, Oakbank. You'll love this home right from the moment you drive up. With the beautiful landscaping, lovely exterior detail, and bright entry, you can't beat the curb appeal!
  Upon entering, the beauty continues. You are welcomed by the large, open foyer. From gleaming hardwood floors running throughout the main floor, to many large windows, this house just invites you in!
  The kitchen will induce envy in even the most accomplished chef. Loads of granite countertop, plenty of storage behind the cherry cabinets, tile backsplash, cooktop, double oven, built in microwave, and a fridge and freezer big enough for all your families needs.
  The great room is a wonderful place to sit and enjoy the company of friends, or even just your own company, in front of the gas fireplace.
  The master bedroom is huge, but still warm and comfortable. With a spacious walk in closet, and an ensuite with jetted tub, and separate shower. A real private getaway space!
   The other two bedrooms are also large in size, with plenty of storage room. Excellent rooms for the kids, or guests! And the main floor full bath offers plenty of space as well!
  Moving downstairs, the rec room space is absolutely enormous! With a wall of built in shelves, big windows, and tons of pot lights, this space barely feels like a basement at all! You'll also find a 4th bedroom, a huge room you can use to fit whatever you can imagine (it's currently a workout room), and a third full bathroom.
  The back yard continues the theme of entertaining. A large deck with "pergola", paving stone patio, beautiful gardens, and even a hot tub!
  This home truly has it all, and it needs to be seen to be appreciated! If you, or anyone else you know, might be interested in a home like this, please call, or email to set up an appointment! 204-990-3467, lukevberg@gmail.com

March Stats

WinnipegREALTORS® MLS® market got off to a good start in 2016 with the first three months showing an 8% increase in sales over the same period a year ago. Helping make this result possible was a stellar March 2016 performance in which sales went up 5% over last March. There were 1,058 sales in March and 2,445 in the first quarter.

Owing to a new listings drop of nearly 9% in combination with strong sales, the active inventory at the end of March experienced a slight decrease from 2015. This is the exact opposite of what has been happening the last few years as the number of active listings has been spiking upward significantly. The overall MLS® market as a result is in balanced market conditions with 4 months of inventory.

When you breakdown the two main property types of residential-detached and condominiums a clear difference emerges. Based on March sales activity, the 2,259 residential-detached listings existing at the end of March would last 3 months if no other listings were to come onto the market while the 813 condo listings would be closer to 5 months.

“It is really important for buyers and sellers in any local market to understand one size does not fit all,” said Stewart Elston, president of WinnipegREALTORS®.

“You can have varying degrees of competitive market forces (e.g. supply and demand) at play between and within the many MLS® property types. In evaluating your property’s salability, some questions need to be asked. What price range does the property fall in? What city neighborhood or rural municipality is it located? What attributes does it have in comparison to similar sized properties? Are they well maintained and upgraded if necessary?

“This is why we always strongly advise and even insist you consult a REALTOR® - a real estate expert – to give you the proper advice and counsel on how the current market applies to your own particular situation.”

Another good example of markets performing differently within the region it encompasses is with regard to residential-detached property inventory.  After three months of sales activity the results show neighbourhoods such as St. Boniface, Norwood, River Heights, East Fort Garry and Richmond West have either sold out or nearly sold all of the listings which have come onto the market this year. Close behind with some very high conversions of listings to sales are Crestview, Fort Rouge, Richmond West, Fort Richmond and Linden Woods.

With the entire market region averaging 51% of residential-detached listings being sold by the end of March the rest tend to be all over the map. This means many neighbourhoods still have a higher percentage of conversions of listings to sales but lots of them including rural municipalities fall under the market region average.

“Just like Vancouver is not the same as Calgary or Toronto, neither do our local neighbourhoods behave the same way,” said Elston.

There are two market developments worth noting as we head into the busiest quarter of our real estate market.

Condominium sales have rebounded from a poor first quarter last year. The 328 sales recorded so far are up 15% over the same period in 2015 and 8% over the 10-year average. March condo sales of 167 increased 25% over March 2015 and 20% over the 10-year monthly average.

The other one is the 19% increase in residential-detached sales over $300,000 this first quarter compared to the same period in 2015. As a result, the year-to-date average residential-detached sales price is $300,844, a 6% increase in comparison to first quarter 2015.

The most active price range for residential-detached sales in March was from $250,000 to $299,999 with 22% of total sales. Deadlocked in second place at 15% each were the $200,000 to $249,999 and the $300,000 to $349,999 price ranges. The $400,000 to $449,999 price range equaled the more active $200,000 to $249,999 price range for having the lowest number of days to sell on the market at only 21 days or 3 weeks.  The average number of days on market to sell a home in March was 31 days, 3 days slower than March 2015.

The most active price range for condominiums in March was from $150,000 to $199,999 at 34%. Second most active was from $200,000 to $249,999 at 20%. Another 14% sold from $100,000 to $149,999. The average days on market to sell a condominium in March was 46 days, 1 day slower than March 2015.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,875 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

February Stats

SALES ECLIPSE 800 FOR FIRST TIME IN FEBRUARY

February Leaps Ahead of the Rest

WINNIPEG - Whether an extra day in February paved the way for a record month is debatable as the best previous high for this month was 797 in 2007 and there were only 28 days to reach that level.  What it does show however, is more buyers came out of the woodwork to take advantage of some of the best supply of affordable house prices in the country.

Another February milestone was set this year too with dollar volume easily surpassing $200 million for the first time.  New listings coming on to the market were up in double-digits as well however the stronger conversion of listings to sales kept the overall inventory close to where it was a year ago. Based on the strong sales activity in February and a high influx of new listings there is roughly four and one-half month’s supply of MLS® listings available going into March. It was near six months at the end of January.

In percentage terms, February MLS® sales of 816 increased 21% compared to February 2015. February MLS® dollar volume of $222 million was up 29% over the same month last year.  New listings coming onto the market in February vaulted ahead by 14% leaving  an inventory of over 3,700 MLS® listings at the end of February, only 2% more than last year at this time.

Given February’s impressive result, year-to-date sales and dollar volume are up 10 and 14% respectively. Listings entered on the MLS® for the first two months have increased nearly 6%.

“Our record-setting February is an indication of the Winnipeg market’s steadfast performance in contrast to some of the adversity we are seeing in other markets across the country,” said Stewart Elston, WinnipegREALTORS® president.  “The Conference Board of Canada is predicting Winnipeg’s economy will outperform most other major Canadian cities this year.”

One noticeable trend which has emerged in the last few years is rural sales are gaining at the expense of the City of Winnipeg.  One out of every four MLS® home sales in 2015 were in the outlying rural municipalities. February 2016 was no exception as 28% of all home sales happened outside the City of Winnipeg.

“In light of the current City of Winnipeg budget deliberations where Winnipeggers are seeing not only property tax increases but a proposed 25% increase in their frontage levy, talk of well beyond inflation jumps in quarterly water and sewer rates and a significant increase in combined building permit fees, it should not be lost on our civic politicians that outlying rural municipalities are an option for buyers seeking lower operating costs of owning a home,” said Elston.

As mentioned in the 2016 forecast for Winnipeg’s MLS® market the very balanced market conditions will continue to keep a lid on pricing and this was borne out in February. Both the residential-detached and condominium average sale prices were very close to the 2015 year-end numbers. Residential-detached was almost identical at a little over $294,000 while February average condominium sales price was just below the $236,000 recorded for 2015.

The most active price ranges in MLS® residential-detached sales in February were between $250,000 to $299,999 and $200,000 to $249,999 with 22 and 15% respectively of total sales.  The most active price range also had the lowest average days on market of 30 days. The average number of days on market to sell a home in February was 37 compared to 34 in 2015.

The most active price range in condominiums was between $150,000 and $199,999 at 28% of total sales.  The second busiest price range with 20% of sales was between $200,000 to $249,999. The average days on market was 48 days, the same time it took in February 2015.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under license.

Dating vs. House Hunting

    Last summer I was honoured to be involved in the wedding of some very good friends of mine. It was a privilege to be a part of that important step in their lives. Now these same friends have recently given me the privilege to be a part of a  another big step in life. Buying their first home. (They currently rent an apartment). This got me thinking. It occurred to me that dating/marriage is very much like buying a home.
   How? Well, lets have a look. In both cases, sometimes you have to look at A LOT of duds before you find the right one. Sometimes it only takes one. And sometimes, if it's taking a while, you might wonder about one you let go. (Until you do find the right one of course, then there's no going back!)
   In both cases,  I don't think you can ever find the PERFECT one. You just need to find the RIGHT one. The one where the imperfections can be worked around, and even, sometimes, fallen in love with. The one where 99% of the time it feels like it's perfect, and you make the rest work. That becomes part of the joy.
   In both cases you'll probably want to change a few things pretty quickly, but then you settle in, get going, and forget about that, and just enjoy the experience. Or maybe you get in, try your hardest to make the change, and find out it wasn't worth it, and even change it back.
   In both cases, there is a real adjustment period, as you get used to the new situation. And sometimes that means a bump or two along the way. But you know you found the right one when working through those bumps makes things better, makes you fall in love all over again, and they become funny stories to tell later.
   In both cases there will be days where you can't stand the other. Where you just don't even want to be close to them. But then there will be days where you just don't want to be apart, don't want to be away, because it's just right.
   And, finally, for now, (though I'm sure I could go on and on about this!) in both cases, when you've been with the right one for a long time, and things are comfortable, there may be (brief!) moments you think about the ones you let go, or the others that may be out there. But then you think about everything you've been through together over the years, and just how much it means to you, and
you fall in love all over again!
  Ok, so that last point is likely much more true about people than homes, but it can happen! So, while I likely can't help you find the right spouse, I would be more than happy to help you find the right house! The one you can fall in love with. Call me any time! (204) 990-3467, or email, lukevberg@gmail.com. Thanks for reading!

ONE MONTH DOES NOT A MARKET MAKE - But January’s a Good Start

Stats for January 2016. If you'd like more local, neighbourhood specific numbers, please feel free to give me a call! (204) 990-3467, or email, lukevberg@gmail.com

WinnipegREALTORS® was founded as The Winnipeg Real Estate Exchange in 1903 – and one of the founding Objects of the Corporation was to“… compile, record and publish statistics and acquire and distribute information respecting the real estate … business of its Members …”. So we’ve been looking at and interpreting market activity and statistics for 113 years.

WINNIPEG – It has often been said that one month does not a market make. Yet here it is … January 2016 … and we only have one month to look at … so January is the market! And not to disappoint, the activity in the first 31 days does give us a lot to evaluate.

Here’s how the New Year kicked off …

In terms of inventory, we have more listings available this January for buyers than we’ve had for the past 5 Januarys. More supply starts to change the sellers’ markets we’ve experienced since 2003/4 and brings more balance to the marketplace. Just recently we’ve seen a reduction in the number of multiple offers and sales over list price that became the norm in the sellers’ markets. Buyers can again exercise more due diligence by viewing more properties and making offers conditional on financing or home inspections than at the height of the market where demand was always exceeding supply.

At the end of January there were 3,406 listings available for viewing … up over 60% from the 2,125 listings available for sale in 2011.

There were 1,519 listings entered into the MLS® system in January, just 36 fewer than last January. But those 1,500 plus listings were 22% more than in January 2014 and 30% more than 2013!

And sales held their own at 571, 17 fewer than last January, but 6 more than 2014. One month is just too small a sample to see trends or make conclusions … but it appears that the market in Winnipeg remains healthy.

Dollar volume was $149 million this year, off 1.75% from last January’s $152 million … but up over January’s total for 2011 through 2014 inclusive.

“The numbers for January appear to reflect the Association’s forecast breakfast projections presented on January 27^th. Despite some of the negative headlines we see from national organizations trying to figure out trends and movements based on an over-weight emphasis on the Vancouvers, Torontos and Calgarys … in Winnipeg we tend to be less exposed to speculative influences like foreign investors and an economy based on a single resource like oil. So when you see headlines implying Winnipeg’s market is high risk or shows strong indications of problematic conditions … we should remember that real estate is local. The activity you see in our local MLS® stats can be relied upon.” said Stewart Elston, WinnipegREALTORS® 2016 President.

The forecast breakfast referenced by Elston showed that last year’s predictions were bang on and this year’s forecast continues to see the glass as half full.

Referring to the forecast, Elston states that “… with interest rates remaining at historical lows and very positive predictions from other analysts suggesting that everything from employment and confidence levels in Winnipeg and Manitoba are high, immigration is encouraging, and the province’s GDP and overall economy are all favourable … we can’t see any reason to predict that the local real estate market will be anything but stable.”

The most active price ranges in the Winnipeg’s single family residential market as recorded on the MLS® for January were between $200,000 and $249,999 and between $250,000 and $299,999, which combined accounted for 39% of sales. The average number of days on the market was 44 compared to 41 in 2015.

The most active price ranges in the condominium market were between $150,000 and $199,999 at 26%, which was the same percentage as sales between $250,000 and $299,999. But there were only 69 condo sales in January and this is such a small sample that no conclusions can yet be formulated. Average days on the market for condominiums came in at 62 days, on average 16 days longer than last year.

At the forecast breakfast, Association Market Analyst Peter Squire predicted that home sales through the MLS® will increase from 1 to 3% in 2016; home prices will rise from 0 to 2%; condo prices will be up the same 0 to 2%; and MLS® dollar volume will increase from 1 to 3%.

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.

REALTOR: Salesperson...Or Something Else?

Let me start by telling you what this isn’t. This is not an attack on sales

people, or the sales industry. What this is, is a look at what exactly your REALTOR is, what they do for you, and whether or not that makes them a salesperson, or something else entirely. I believe a REALTOR is not a salesperson, but a facilitator.

First, let’s look at public perception of “sales people”. It’s a fact that the public at

large does not have a very forgiving picture of anyone called a “salesperson”. In studies

about trusted professions, sales professions scored very low on the trust scale.

REALTORs included. People hear “sales” and immediately see a man (or woman) in a

cheap suit, with a slimy smile on their face, looking to make a quick buck by swindling

the next person lucky enough to walk through the door. Whether this is a fair

assessment or not in most sales industries is up for debate. However, I feel it’s even

less fair in the world of Real Estate sales. Wait a minute, you say, I’m biased. Yes, I am. But I believe what I’m going to say here will back up that bias. Are there bad REALTORs? Of course. Just like there are bad car-sales people. But there are also good ones. So, lets focus on how the industry SHOULD be.

Now, let’s look at the actual definition of these words, as given by Merriam Webster.

Salesperson: A person whose job it is it sell things.

Facilitator: To help (something) run more smoothy and effectively.

Two very different definitions, to be sure. But how does this apply to your

REALTOR, as compared to other “sales” industries? To figure that out, we need to look

a little deeper at these two terms. A salesperson sells things. They are stationary. Car

sales people sell cars. You go to the dealership, looking for a car, which is “owned” by

the dealership. They sell you their product. You go to the mall to buy clothes. Walk into

the store, the salespeople help you find the right product that THEY are selling. These

people get paid to sell their own products. A good one will still do a good job getting

you what you need. not what they want you buy. But in the end, they are selling their

own thing, and want you to buy it from them, not someone else.

It may seem like a subtle difference, but stick with me here, as we now take a

look at what your REALTOR will do for you. You can’t just go to the REALTOR’s office

and view their product. You have to actively go out and look at various homes, with your

REALTOR’s help. The product is not (generally) OWNED by the REALTOR. They are

not selling their own product. They are HELPING you find a product, owned by

someone else, and HELPING to make the sales process run more smoothly and

effectively. In so many ways. Helping you with the paperwork. Connecting you with the

other businesses you’ll work with. Working in YOUR best interest. Sounds a lot more

like the definition of Facilitator than Salesperson!

You can even look at how we get paid, as compared to other sales. Yes, I know that many other sales positions are paid on commission, and therefore are directly tied to the amount you spend. But it’s not too many other industries where, if the agent is doing his job properly, when working with a buyer will actively TRY to make LESS

money, by getting the client (not customer! Another small, but important difference) a

lower price on the product. While on the selling side, it is true that the more you get for the home, the more the REALTOR will get paid. But at the same time, if they convince  you to price to high, that your home doesn’t sell, they’ve hurt themselves even worse, because you will now give a bad review. They still work for your best interest, not their own, and they still help to connect you with all the serivces you’ll need.

Please do not read this as an indictment of salespeople, or sales industries at

large. I, personally, have had many great experiences with sales people that are

wonderful people, and really went out of their way for me.

My point is only that REALTORs are not salespeople, they are in a different

industry. A facilitating industry. And really, when it comes to what is likely the biggest, most important purchase you will ever make, wouldn’t you like to have someone like that on your side?

2015 SALES SOLID WITH PRICES HOLDING FIRM

December Sales Up 4%

WINNIPEG -   2015 finished on a strong note.  Following on the heels of a record sales month for November, December sales of 642 were up 4% from last December. They are the third highest for this month, and are only behind the best sales years ever by a very modest amount. 

“It is really quite remarkable how close our year-end sales have been in the last few years including our highest sales year in 2007,” said WinnipegREALTORS® outgoing president David MacKenzie. “They all tend to hover just above or close to the 13,000 level and in percentage terms we are only talking a little over 1% when we compare the 12,927 sales recorded this year to the 13,079 in 2007.”

While sales and even prices have shown consistent and similar results, listings have not chartered the same path. The number of listings entered on the MLS® were 24,603 in 2015, up 7% over 2014, and 41% over the 10-year average of 17,433. With an increase in listings but sales remaining consistent, the market’s inventory has also been rising month to month. This is borne out in having over 5 months of inventory available going into 2016.

“Buyers are in a great position to take advantage of a current market which is providing a large number and array of properties for sale and ones which remain some of the most affordably-priced in the country,” said Mackenzie. “Sellers need to take heart knowing WinnipegREALTORS® is still enjoying one of the best sales years it has ever had. They need to be aware however that more competition for those sales creates more downward pressure on prices since supply is outstripping demand.”

An indicator of stiffer competition for selling your home is evident when you see the number of single family home sales selling below list price.  Properties below list accounted for  65% in 2014 but now represent 75% of the market in 2015. In December alone 87% of all single family home sales sold below list price. Of the single family or residential-detached listings which sold in 2015, on average they achieved 98% of the total list price. 

When 2015 was all said and done a new MLS® dollar volume record was established at $3.5 billion. This resulted in a 2% increase over 2014. Despite sales being higher this December from December 2014, dollar volume actually fell 2.89% when compared to December 2014.

It was a tale of different stories when it came to the two primary MLS® property types. Residential-detached performed exceedingly well with sales and dollar volume up 3 and 5% respectively in comparison to 2014. On the other hand, condominiums never recovered from an unexpectedly poor first quarter where sales were off by 20%. By year end this deficit was cut in half but nonetheless represented a 10% decrease compared to 2014. 

The average sales price for residential-detached was $293, 992, a 2% increase over 2014. The average condominium sales price showed a 1% decrease from $239,171 in 2014 to $236,204 this year.

Residential-detached represented nearly 3 out of every 4 properties which sold on MLS® in 2015. Condominium market share was 12.5%. 25% of residential-detached sales in 2015 happened outside Winnipeg in the capital region. The southwest quadrant of Winnipeg was second with 19% of total sales.

The most active price range for residential-detached sales in 2015 was $250,000-$299,999 (22% of total sales), followed by the $200,000-$249,999 (17%) and the $300,000-$349,999 (14%).  Average days on the market for residential-detached sales was 33 days, 3 days slower than 2014. The highest-priced residential-detached sale was $2.7 million. The least expensive sale was $8,000.

The most active price range for condominiums in 2015 was $150,000-$199,999 (30% of total sales), followed by the $200,000-$249,999 (20%) and the $250,000-$299,999 (18%). Average days on market for condominium sales was 49 days, 9 days off the pace set in 2014. The highest-priced condominium sale was $950,000. The least expensive sale was $57,000.

Looking ahead to 2016, Manitoba’s GDP is expected to increase to 2.3% which is an improvement over the expected increase of 2.0% in 2015. In keeping with one of the country’s best GDP’s, Manitoba’s employment is forecast to grow by 1.6% in 2015 and 1% in 2016. This will keep its unemployment rate below 6%. Manitoba had Canada’s second highest population increase of 1% in 2015.

“While we do have an abundance of listings to work our way through at the beginning of the year, the good news is Winnipeg’s and Manitoba’s economy is performing relatively well,” said MacKenzie. “A most recent survey by CIBC shows Manitobans are most confident about their state of finances so this is another positive indicator that they will continue to take advantage of an excellent selection of properties for sale at some of the most affordable prices in the country.”

               

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under licence.