Categories
RSS

When is the best time to list your Winnipeg home for sale?

On the daily, I am asked when the best time is to sell your home in Winnipeg.

The short answer is: it depends.

For the purposes of today’s discussion, I’m going to focus on when the best time to sell is in regard to dollar return.  As in, what time of year is best if the sole goal is to net the most money.  However, there are aspects beyond just netting top dollar (possession timeframes, conditions, terms, etc.) that are not being considered in this evaluation.  So please keep that in mind.  Everyone has different circumstances, and tailoring a plan specifically for you is what is most important.  I don’t want anyone getting stressed out if they are unable to make the time frames shared below.

Just a few notes before we get into it:

  • This report is specifically for the Winnipeg market

  • These statistics were compiled from the data provided form the Winnipeg Regional Real Estate Board

  • All markets are local. However, most markets do hit a peak in the market, in which sales decline.

  • While the numbers help us develop “best strategies”, there is never a one-size-fits-all approach to selling a home.

Looking at number of sales in Manitoba. If you had 100 buyers:

  • 5 would buy in January

  • 5 would buy in February

  • 7 would buy in March

  • 9 would buy in April

  • 12 would buy in May

  • 11 would buy in June

  • 11 would buy in July

  • 10 would buy in August

  • 9 would buy in September

  • 9 would buy in October

  • 7 would buy in November

  • 5 would buy in December.

Looking at these numbers alone, one may say that selling between May-July would be an ideal time to sell. However, based on my experience, I know that those selling earlier in the year typically come out further ahead when it comes to their bottom line. And a deeper delve into the stats reveals why:

Inventory levels in Winnipeg, tend to start heavily increasing in May – with the number of Active listings typically hitting the peak between July – August.

However, by mid-May, we are still experiencing more limited inventory even in the presence of a very active Buyer pool.

As a result – we typically see the highest number of sales over list price in May – and I would actually say from experience that those selling from mid-April to mid-May are the ones that tend to see the highest sales prices.

So, what does this mean now, that we’ve passed this “peak” of the spring market? It means a few things:

  1. We need to adjust expectations. Understand that things might take longer to sell than a few months ago, and it might mean more showings before you get to that offer. Multiple offers may be less frequent and less aggressive.

  2. Buyers are seeing more options – so pricing and presenting your home properly are much more paramount in these times.

  3. Be prepared to negotiate. The early spring buyers are much more comfortable with the bidding war. They tend to be early adopters with a different mindset from the late spring buyers who can be more conservative (hence why they haven’t succeeded in their bidding yet).

  4. This is Winnipeg. It is still, quite likely, a Seller’s market. Winnipeg has proven to be a safe haven for homeowners for the last several decades – with consistent increases in property values. Our homes still typically sell in well under 90 days and for relatively close to list price when compared to other markets. Which technically still qualifies us as a Seller’s market! So it really isn’t that bad.

For buyers: what I haven’t mentioned above is the best time for you to buy. The data says typically anytime from November – January is a good time to buy – with November likely showing the most strength. Inventory is still quite high, while the number of Buyers is quite low.

And I know I have touched upon this above – but there are really two keys to ensuring the success of your home sale, regardless of the market you are in:

  1. Price it right from the start (not too low and not too high), and

  2. Ensure that your property stands out from the competition

If you need help with any of that, please reach out. Talking strategy and what is best for your circumstance, is honestly one of my favourite things to do!

Happy Selling,

Jen

Read

Renovations That Add the Most Value

When preparing to list your property on the market, choosing the right renovations can make a significant difference in attracting buyers and maximizing your return on investment. Here are five key improvements that typically offer the most value and should be prioritized if you're thinking about selling.

Kitchen Remodel

The kitchen is often considered the heart of the home, and modern, functional kitchens are a major draw for potential buyers. Whether you opt for a full remodel or minor improvements like new countertops, hardware, and flooring, updating the kitchen can offer one of the highest returns on investment. A well-designed kitchen not only enhances daily living but also increases the overall appeal of your home.

Bathroom Renovation

Bathrooms, like kitchens, are high-traffic areas that buyers scrutinize closely. Updating your bathrooms can significantly increase your home's value. Even small changes such as new fixtures, lighting, or tiles can enhance the appeal and give the space a fresh, modern look. Consider adding features like double sinks, a walk-in shower, or heated floors to create a spa-like experience that buyers will love.

Adding Living Space

Increasing your home's marketable square footage by converting basements into living spaces or adding extra rooms can greatly boost its value. Additional living space can appeal to buyers looking for a home office, gym, or guest room. This type of renovation not only increases the functional space of the home but also enhances its versatility, making it more attractive to a wider range of buyers.

Energy Efficiency Improvements and Smart Home Technology

Today's buyers are increasingly looking for homes that are both energy-efficient and tech-savvy. Installing energy-efficient windows, insulation, and HVAC systems not only reduces utility bills but can also attract environmentally conscious buyers. Incorporating smart home features such as thermostats, security systems, and smart lights can further increase your home's appeal. These modern upgrades can provide convenience, security, and energy savings, making your property stand out in the market.

Exterior Improvements

First impressions matter, so investing in your home’s exterior can pay off significantly. Enhancing curb appeal through new siding, updated landscaping, or a fresh coat of paint can make your property more inviting and attractive to prospective buyers. Well-executed exterior improvements not only improve the aesthetic appeal but also signal to buyers that the home has been well-maintained, adding to its overall value

By focusing on these key renovations, you can increase your home's appeal, attract more buyers, and potentially achieve a higher sale price. Whether you're considering a major remodel or minor updates, prioritizing these improvements can help you make the most of your investment and ensure a successful sale.

Read

Bank of Canada Cuts Interest Rates by 0.25%

In a move that's been eagerly anticipated, the Bank of Canada has announced a reduction in its policy rate by 0.25%, bringing it down to 4.75% from the previous 5%. This adjustment marks the first change since July of last year and comes as a response to evolving economic conditions.

Why Did the Rate Change?

The decision to decrease the rate stems from a series of economic shifts starting in March 2022, when the Bank began increasing rates in reaction to unexpectedly high inflation. This inflation surge was a byproduct of pandemic-related financial stimuli and global supply chain disruptions, which impacted prices across the board.

What This Means for You

This rate cut is particularly significant for those in the housing market. Prospective homebuyers securing fixed-rate mortgages and current homeowners with variable-rate mortgages will likely benefit from lower interest costs. This change could make home ownership more accessible to many Canadians and provide some relief to those currently repaying loans.

Economic Overview

The Canadian economy showed signs of recovery in early 2024 after a slowdown in the latter half of the previous year. Despite the GDP growth rate being a modest 1.7%—slower than expected due to dips in inventory investments—consumer spending has remained robust at around 3%. Additionally, there have been noticeable increases in business investment and housing activities. While employment growth has not kept pace with the growth in the working-age population, the job market remains active, and wage pressures are starting to ease.

Inflation and Economic Outlook

As of April, the Consumer Price Index (CPI) inflation rate has dropped to 2.7%, showing a decline from earlier rates. Core inflation metrics have also fallen, indicating a trend towards continued easing. The breadth of price increases across various CPI components has decreased, nearing historical norms.

Despite these positive trends, the Bank of Canada maintains a cautious stance. The Governing Council's recent rate cut to 4.75% reflects growing confidence that inflation will gradually align with the 2% target. However, risks in the inflation outlook still exist, and the Council is closely monitoring factors such as core inflation, the balance of demand and supply, inflation expectations, wage trends, and corporate pricing strategies.

The Road Ahead

The Bank of Canada is committed to achieving price stability and continues to monitor economic indicators closely. This latest rate cut could signal more adjustments in the future, depending on how economic conditions unfold. For Canadians, this means it's essential to stay informed and consider how these changes might impact their financial decisions.

Stay tuned for more updates as we continue to follow this developing story and analyze what it means for Canadians and the economy at large.

Read
Categories:   #AgentAmy | #agentAshton | #AgentLogan | 48 Hour Time Clauses in Winnipeg Manitoba, | 55 plus condos for sale winnipeg | agent | agents | airbnb winnipeg | basement flooding | benjamin moore | best agents | best real estate agent | best real estate team | best realtor | best realtor winnipeg | best realtors | best time to sell a winnipeg home | best winnipeg realtor | bidding wars | bidding wars in winnipeg | bridgwater | brookfield relocations | buyer representation | buyers | Buyers, Rent, Realtors, Winnipeg | buying a condominium | buying a home | buying a home in winnipeg | buying a home with a pool | buying a house | buying in winnipeg | buying winnipeg | children activities | client appreciation | closing costs winnipeg | colouring contest | condo for sale in south winnipeg | condos in winnipeg | corona | Corona Virus | Coronavirus | cost of buying a home | country living | covid-19 | documents for selling a condo winnipeg | downsizing in Winnipeg | exclusive listing winnipeg | exclusive listings in Winnipeg | fair square | fairsquare winnipeg | families helping families | faq | financing conditions | First Time Home Buyers | first time home savings account (FHSA) | for sale by owner | for the kids | foreign buyer ban | Fort Garry | Fort Richmond | Giving Back | Goal setting | holidays | home buyers | Home buyers winnipeg | home buying | home buying tips | home buying winnipeg | home inspection winnipeg | home maintenance | home ownership | home ownership winnipeg | home sellers | Home sellers market | Home sellers winnipeg | home selling | home selling in winnipeg | homes for sale | HomesForSale | house hunting | house hunting trip winnipeg | houses with pools | how to buy a home | interest rates winnipeg real estate | Investing in Property in Winnipeg | investing in winnipeg real estate | is a pool a good investment winnipeg | lake front properties | life lessons | listings | living in winnipeg | living on the red river | luxury homes | luxury houses winnipeg | Luxury Listings in Canada | luxury real estate in winnipeg | Luxury Realtor in Winnipeg Manitoba | luxury realtor winnipeg | manitoba | market predictions | mls | motivation | moving to the country manitoba | moving to winnipeg | pandemic | Permits in winnipeg | pool homes winnipeg | pools in winnipeg | purple bricks | queen team | real estate | real estate advice | real estate agent | real estate agents | real estate family | real estate in Manitoba | real estate life | real estate team | real estate teams | real life | Realtor | realtor life | realtor reviews | realtor tips | Realtoring | realtors | realtors who care | realtors winnipeg | redecorating | relocating to winnipeg | remax realtor commission rates | REMAX winnipeg | renovating | renovations with the best ROI | rental equipment | riverfront property winnipeg | riverfront winnipeg | royalwood | rural living manitoba | sage creek | selling | selling a condominium | selling a home | selling a home in winnipeg | selling a home winnipeg | selling advice winnipeg | selling during the holidays | selling privately | selling real estate | Selling Windsor Park | selling winnipeg | Selling Your Home | sherwin williams | should i buy a house with a pool | should you buy or sell first winnipeg | south drive winnipeg | spring home maintenance tips | staging a home in winnipeg | staging advice | staging in winnipeg | Summer camps in winnipeg | Summer camps in winnipeg 2023 | summer camps winnipeg 2024 | Team Update | things to do in winnipeg | tips for buying a home | top real estate team | top real estate team winnipeg | top realtor | Top Realtor Team | top realtor winnipeg | top realtors | top realtors winnipeg | transcona | Underpricing a home in winnipeg | water in basement | waterfront homes winnipeg | waterfront winnipeg | what to do in winnipeg | what to do on possession day | whats up | Windsor Park | windsor park winnipeg | winnipeg | winnipeg and interest rates | winnipeg houses | winnipeg manitoba | Winnipeg R | winnipeg real estate | winnipeg real estate market | Winnipeg Realtor | winnipeg realtors | Winnipeg Sellers | winnipeg top realtors | winnipeg, remodeling, | writing an offer | Year in review


Our website has been designed with the intention of providing you access to the Best Realtor in Winnipeg -by this, we mean the best Realtor for you and your needs, although we do strive to be the best real estate agents in Winnipeg based on our customer service, follow-up care, and customized services for our clients. Not only that, but we offer access to agents that specialize in every quadrant of the city. We have a real estate agent for Sage Creek, a real estate agent for Windsor Park, etc. So if you are looking for a neighbourhood expert, just contact us to see who would be the best match for you and your search! If you are looking for a top realtor in Winnipeg, then look no further. You have found us!


We have created several pages to help you navigate through your search and narrow down key areas of interest. Whether it be Sage Creek Real Estate, Windsor Park Real Estate, Fort Garry Real Estate, Transcona Real Estate, Luxury Real Estate, or just Winnipeg Real Estate in general, we have got you covered. Do you feel we are missing a community that would be of interest to you? Let us know, we would love to add information that our clients find useful!




Jennifer Queen Personal Real Estate Corporation