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Winnipeg real estate: the average price to buy a home in Winnipeg

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The real estate market is starting to balance out in Winnipeg according to the latest numbers from the Winnipeg Regional Real Estate Board.

There were 1,205 sales in September 2022, which is in line with pre-pandemic numbers in 2019.

The prices for a single-family home are also beginning to come back down.

In the second quarter of 2022, the average price was $442,134, while third-quarter numbers sank to an average of $391,802.

For those who may be looking to buy a home, CTV News Winnipeg has compiled a list of some homes throughout the city that are available.

The listings all fall in the range of $375,000 to $425,000.

Click here for a virtual tour.

EAST – SOUTHEAST

7 Chokecherry Cove – $389,900

This St. Vital home was built in 1985 and features four bedrooms and two bathrooms.

The bi-level home has been upgraded inside with hardwood floors, granite countertops in the kitchen and maple cabinets.

In the backyard, there is plenty of green space, an area for gardening, a shed and a deck on the side of the house.

The home is also within walking distance of St. Vital Mall.

145 Ebb Tide Drive – $399,900

This is a relatively new home in Winnipeg, built in 2005. This Island Lakes property has four bedrooms and three bathrooms and includes a large dining room/living room area, as well as a place to set up a dinner table in the kitchen.

The home also has a fully developed basement with bedrooms downstairs and there is also a full laundry room on the main floor.

In the back, there is a deck that goes onto a large patio area and also has a grassy area.

119 Knightsbridge Drive – $399,900

This Meadowood home was built in 1976 and has three bedrooms and one bathroom.

It is a three-level spilt home that gets plenty of light through the big windows in the front of the house.

The home also features an upgraded bathroom, new LED lighting and a large backyard with plenty of space for activities.

The back has a walk-down deck onto a patio and includes a shed. It also is in a prime location minutes away from St. Vital Mall.

WEST – SOUTHWEST

247 Park West Drive – $424,900

This Bridgwater Centre home isn’t even 10 years old as it was built in 2014.

It has two bedrooms and two bathrooms with a kitchen that features stainless steel appliances and a marble backsplash.

For those who like plenty of closet space, the main bedroom has a walk-in closet, something that is also included in bedroom number two.

Outside, the backyard has a private patio/fire pit space.

It is close to several amenities in the community and is a short distance from the University of Manitoba.

106 Tranquil Bay – $399,990

This Richmond West home popped up in 1983 and features three bedrooms and two bathrooms.

The split-level home has an open concept that sees the kitchen and dining room blend into one.

The kitchen has newer appliances and the basement is fully developed.

The home has a large backyard and also a garage to protect your vehicle in the winter.

122 Shepton Bay – $378,900

Located in the community of Charleswood, this home was built in 1974 and has plenty of space.

Throughout the 1,275-square-foot home, there are three bedrooms and three bathrooms.

In the living room, there are large front windows and a fireplace.

The home also has an open kitchen and dining rooms plan and a fully developed basement.

Speaking of space, the backyard is large with plenty of room for kids to play and other activities for adults.

WEST – NORTHWEST

42 Dahlia Avenue – $389,900

This home has been around in Winnipeg for quite some time as it was built in 1957.

This Garden City home has three bedrooms and two bathrooms. The living room and dining room are connected and create a large main-floor living space.

In the basement, has a large rec area with a bar, a bonus room, and office area as well.

The backyard is quite private and includes a deck that can fit an outdoor eating area.

47 Avery Drive – $414,900

Located in Tyndall Park, this four-bedroom, two-bathroom home was built in 1975.

Two large front windows provide sunshine into the living room and kitchen.

The basement, which can be accessed through a side door on the house, has a large rec room for entertainment and also includes a separate laundry room.

There is new flooring throughout the home and the basement bedroom and rec room have newly installed pot lights.

162 James Carleton Drive – $419,900

This spilt-level home in Maples was built in 1981 and has four bedrooms and three bathrooms.

The main floor living room area is quite spacious and is an open concept from the kitchen to the dining room.

The lower level of the split includes a family room, while the basement has a large rec room.

The backyard has a massive deck that is also split-level and the yard includes a gravelled play area for kids.

EAST – NORTHEAST

30 Radley Bay – $399,900

Built in 1986, this Harbour View South home features three bedrooms and two bathrooms and offers plenty of open space.

The bungalow includes an open-concept living and dining room area and a kitchen that has stainless steel appliances.

The main bedroom has an ensuite bathroom. The lower level of the home is unfinished, meaning people can update it any way they want.

Outside, there is plenty of deck space that can fit an outdoor eating area and a barbeque.

139 McPhail Street – $420,000

This home in Elmwood doesn’t get much newer, as it was built in 2021.

There is plenty of space for a family as the home includes five bedrooms and four bathrooms.

An island in the kitchen is part of the open floor plan on the main floor.

There is also closet space scattered throughout the home and there is a full washroom as well.

The backyard is untouched and can be converted into any kind of outdoor living space.

102 Meadow Lake Drive – $419,950

This Kildonan Meadows home, which was built in 1981, is move-in ready.

The three-bedroom and two-bathroom home has been renovated and has hardwood floors throughout much of the living area.

The home has a detached double-car garage that backs off into a large backyard that is very open for activities. It also features a deck that can fit a hot tub on it.

WINNIPEG CONDOS

115 – 1355 Lee Boulevard – $389,900

This condo complex was built in 2014 and can have up to four bedrooms and four bathrooms.

The Fairfield Park location has a large living room – dining room area and a private balcony off the main floor.

There are stainless steel appliances in the home and new vinyl plank flooring.

The owner would also have access to an attached single-car garage.

This home is within walking distance of several amenities and the University of Manitoba.

1702 – 311 Hargrave Street – $379,900

The downtown building went up in 2016 and this space has two bedrooms and two bathrooms.

The 822-square-foot condo is located on the 17th floor and features a living space and kitchen in between the bedrooms.

Each room has windows stretching from the floor to the ceiling and plenty of closet space.

The building also features a private movie room, a common lounge area, and an outdoor penthouse patio.

86 – 1290 Warde Avenue – $384,900

This Royalwood home has everything to offer a potential homebuyer.

The building, which was built in 2015, has two bedrooms and three bathrooms and has an open kitchen, dining, and living room area.

The kitchen includes stainless steel appliances, granite countertops, and an island in the middle. There is also an electric fireplace in the living room.

This condo also includes an insulated garage and is pet-friendly.

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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