Paul Scinocca Realtor

01/15/2022

Buckle in….

Demand for homes remains high across the country as Canadians continue to prioritize their living space over other purchases. However, housing shortages characterized many…

04/16/2020

https://www.royallepage.ca/en/realestate/news/royal-lepage-market-forecast-national-home-prices-to-show-remarkable-resilience-in-2020/

Royal LePage Market Forecast: National Home Prices to Show Remarkable Resilience in 2020Best case scenario forecast shows Canada’s aggregate home price could grow a modest 1% by the end of 2020If the pandemic continues to heavily restrict business activity through late summer, a national home pric...

03/27/2020

The Bank of Canada makes another emergency cut to its benchmark interest rate. This does not mean that fixed mortgage rates will be further reduced, however it should translate into lowered variable interest rates and lines of credit interest rates.

The Bank of Canada has made a second unscheduled cut to its benchmark interest rate, lowering it to 0.25 per cent amid the COVID-19 crisis.

02/13/2018

The latest Winnipeg real estate statistics.....

Housing Market Stats CREA compiles and analyzes numerous factors affecting the real estate market for the public, REALTORS® and governments. With the accurate, up-to-date information that CREA provides: The public gets a snapshot of the Canadian housing market; REALTORS® can knowledgeably advise t...

12/13/2016

08/10/2016

http://www.cbc.ca/1.3713717

The average price of a house in Winnipeg has skyrocketed in the past decade but remains well below the average price across Canada, according to a new report.

07/15/2016

Record Month for MLS Sales

With over 3200 combined sales in May and June of this year, the Winnipeg Real Estate market has fully recovered. Sales were up 9% in June over the same month last year, and also up 9% for the 1st half of 2016 compared with the 1st half of 2015.

The Winnipeg real estate market is supported by strong underlying fundamentals, with stronger buyer sentiment and therefore higher conversions of listings to sales.

1 out of 4 single detached homes sold for above list price.

MLS dollar volume is up 13% over June of last year. This is the highest dollar volume on record. The 1st half of 2016 saw an 11% increase over the 1st half of 2015.

2016 is exceeding our initial forecast and expectations for MLS® sales this year - Stewart Elston, president of WinnipegREALTORS®

The chart below illustrates the increased average sale price for the 1st half of 2016 compared with the same time period in 2015.

05/12/2016

Comfree Caveat Emptor

I recently had the pleasure of meeting a fabulous couple who listed their home with Comfree. A representative at Comfree told them the market has tilted heavily to a "Buyer's Market" and that they would be lucky to receive an offer. Much to their surprise they received 7 offers, and had no idea how to react. Just a friendly reminder that even though Comfree is a registered Brokerage, they are somehow not regulated, and sellers are sometimes left in the dark. As well, lawyers are not Real Estate professionals, and will not offer advice as to how to negotiate with buyers. The young couple I met literally left thousands of dollars on the table because they did not know how to properly negotiate and handle multiple offers. Let Realtors work for you….the cost is normally worth it's weight in gold

01/12/2016

Year-End Real Estate Market Statistics

While sales and prices have shown consistent and similar results, listings have not chartered the same path. The number of listings entered on the MLS® were up 7% over 2014, and 41% over the 10-year average. With an increase in listings but sales remaining consistent, the market’s inventory has also been rising month to month.

“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 Winnipeg REALTORS® president David Mackenzie. "Sellers need to be aware 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. Despite an increased number of sales this December from December 2014, the dollar volume actually fell nearly 3%.

For the complete year, the average sales price for residential detached houses was $294,000 (a 2% increase over 2014). The average condominium sales price was $236,000 (a 1% decrease from 2014). Average days on the market for residential-detached sales was 33 days, 3 days slower than 2014. Average days on market for condominium sales was 49 days, 9 days slower than 2014.

“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.”

12/04/2015

A Buyer's Market

With nearly 4500 active listings on the MLS, the current real estate market has tilted more towards a buyer's market. As a result, it puts more of a premium on vendors to do everything possible to place their property in its most positive light to sell, given the stiff competition which exists. The key is where do you price your property best based on supply, location, and competition within your price range segment.

With the large increase in available homes also comes more sales and higher dollar volumes, as sales are up by 3% over the same time last year. Condominium sales, however, have suffered due in part to the over-saturation of new building developments, and are down an additional 11% from 2014.

Overall, "Winnipeg is a very stable real estate market with good fundamentals supporting it" said Winnipeg REALTORS™ president David MacKenzie.

A more balanced market is healthy for everyone, and finally gives a little break to first-time home buyers with many choices available, and without having to worry too much about the dreaded "bidding-war."

06/04/2015

Winnipeg Real Estate Stats……

The Winnipeg Realtor's Association® released their monthly market statistics for May 2015. There was a large influx of new listings that came onto the market in May, following a trend since March which saw a 33% increase in listings from the same time last year. However, buyers have been active, and currently there is approximately a 4-month inventory of supply. A 5-month inventory is considered to be a "normal" or balanced market.

"Overall our local market is balanced and offers plenty of choice for discerning buyers to find their preferred property," said Winnipeg Realtors® president David MacKenzie. "Sellers on the other hand need to be realistic in their pricing as there is lots of competition from other similar properties."

This is a general market trend, however certain areas of the city are affected more than others. For example, in May, 44 condominium and residential homes sold in River Park South. Meanwhile there are currently 146 of such properties still available on the market. In River Heights, there were similar numbers of sales in May (49), however there are currently only 89 properties available. St Vital saw only 18 sales in May, while there are currently 73 active listings.

Let me know if you are interested to know the market conditions in your neighbourhood.

05/06/2015

www.976clifton.isnowforsale.com
Please forward the above link to anyone you know who may be interested in this great home located in Sargent Park.

Beautifully updated 1 & 1/2 storey family home, ideally located on a bay overlooking city greenspace. The front door opens to an inviting new kitchen/living room, with a breakfast bar, a granite dbl sink, tiled flooring, and pot-lighting. Other notable features include an impressive new main floor b…