With piles of leaves covering the streets of Winnipeg and its surrounding areas, it’s easy to tell that fall is finally here to stay. As we move into the final 3 months of 2018, many existing and potential homeowners want to know how the real estate market might fluctuate as the weather starts to cool.

Whether you’re looking to finally make the move into a larger home for your growing family or simply want to downsize into a more manageable space, it’s vital that you know the market conditions of your ideal neighbourhood. Winnipeg is an extremely diverse city, with a variety of neighbourhoods boasting market-ready homes.

Familiarize Yourself with the Hyperlocal Market

While you’re searching for your dream property or attempting to pinpoint the average selling price of homes similar to yours in your area, analyzing hyperlocal data is key. Hyperlocal data focuses on smaller, targeted real estate markets in specific geographical areas, i.e. neighbourhoods.

Overall, the real estate market may seem relatively balanced on a broad scale. However, once you begin to target and research specific areas, you quickly find that each neighbourhood’s real estate market conditions are different. Inevitably, market conditions in these hyperlocal areas change depending on a variety of factors. With the market changing at such a rapid rate, expert help from a dedicated real estate agent can provide you with the information you need to successfully navigate hyperlocal areas.

Overcoming Current Market Challenges

In Winnipeg, our climate has always posed challenges for its inhabitants to embrace and overcome. In the same way we take necessary precautions to protect ourselves from cold temperatures in the final months of the year, it’s vital that we do the same when positioning ourselves to sell our homes during the final months of 2018.

Consider the steps you take to winterize your home for the winter. Pools are closed up, air conditioning systems are turned off, and eventually, snowfall covers your meticulously landscaped yard. When the snow flies, certain systems get hidden, making it vital to include relevant holdback clauses.

According to Richards + Company, a holdback clause is a clause or set of terms added to real estate purchase contracts outlining a known problem, and how it will be addressed within a specific time frame. For example, once a pool is closed for the winter, the seller can include a holdback clause that states the pool will be inspected for any potential damage and respectfully repaired in the spring, with five thousand dollars being held back until the specified date.

These clauses are put in place to protect both buyers and sellers. From a sellers perspective, the clause helps ensure that the necessary work is done within the timeframe provided within the contract. For the buyer, they can rest assured that the problem will be addressed without having to invest any of their own money in the issue.

Protecting yourself from seasonal challenges this year with the help of a Royal LePage Prime real estate agent can help you confidently enter the new year with a new home.

Navigating Hyperlocal Markets in the Final Months of 2018

When it comes to buying and selling real estate in your hyperlocal market, two groups will inevitably face more challenges than others: those trying to buy a house in a hot market, and those attempting to sell a home in a softer market.

Buying a Home in Hot Market Conditions

You may be interested in a specific hyperlocal neighbourhood for a variety of reasons. However, the more reasons you’re keen to move into a certain area, the higher the chance that competition in the market is fierce.

Thriving or “hot” neighbourhoods are measured by their sale to list ratio (the number of listing sold this year to date) and the lowest average days on market (DOM), with some of the hottest Winnipeg neighbourhoods going into the final quarter of 2018 being:

  • Crescentwood/Rockwood: 85% sale to list ratio and 13 DOM

  • Riverview: 83% sale to list ratio and 13 DOM

  • North Kildonan: 83% sale to list ratio and 20 DOM

  • St. James/Silver Heights: 86% sale to list ratio and 18 DOM

To increase your chances of landing your dream home in a thriving market, make sure you’re considering what a seller is looking for beyond their listing price. Factors like having financing in order, being pre-qualified and pre-approved for a mortgage, and having a substantial deposit all make the selling process easier for the seller.

Selling a Home in Softer Markets

In hyperlocal areas that are in the midst of a stagnant market, you may feel like attempting to sell your home is a risk. However, with the help of an experienced real estate agent, you can adjust your listing in accordance to your competition.

Consider the current market in your area. Where do you lie amongst the competition? The details of your home and listing can mark the differentiator between a successful selling journey and a discouraging one.

The following neighbourhoods can expect a softer market in the final months of 2018:

  • Amber Trails: 54% sale to list ratio and 24 DOM

  • Sage Creek: 41% sale to list ratio and 23 DOM

  • Headingley: 24% sale to list ratio and 24 DOM

Creating incentives for potential buyers can help draw buyers and investors in. Some examples of ideal incentives are cash rebates, providing extra purchase offers, and ensuring that your home shows, smells, and looks inviting both online and in real life.

Partnering with an honest real estate agent can help you figure out where you stand amongst the other available homes in your area and the actionable steps you can take to level-up your chances of selling your home for your listing price.

No matter whether you’re selling or buying a home in this final quarter of 2018, the Royal LePage Prime team is always ready to help you identify the right opportunities for your unique situation. To learn more about buying or selling your home with one of our experienced agents, visit us online today.


September is known for being a month of new beginnings. With the change of the seasons bringing a flash of colour and freshness to communities around Winnipeg, the Royal LePage Prime team is ready to help you fall in love with your city once again. Whether you’re buying a home, selling a piece of property, or looking to jump-start your real estate career, Royal LePage Prime is here to help guide you through a real estate market in a constant state of change.

As one of Winnipeg’s leading real estate brokerages, our ever-growing sales team is more dedicated than ever in creating a real estate buying or selling experience that our clients depend on. What is it about Royal LePage Prime that sets us apart from other Winnipeg real estate brokerages, and how has our cross-Canada brand grown our market share more than any other national real estate brand in the city?

Who We Are

Royal LePage Prime has been serving Winnipeg and the surrounding area with real estate services since 2001. For our team, it’s our people who matter most to us. Whether it’s an urgent meeting with a client or investing in top-tier tools and training for our REALTORS®, our goal is to help clients and staff achieve their real estate goals.

Navigating the modern real estate market can be challenging, no matter how involved you are with the industry. From calculating closing costs to finding best-in-class moving-related services in the city, Royal LePage Prime has cultivated a client-centric reputation that benefits both real estate buyers and sellers, and the professionals who help them through their journey in real estate.

Our Guiding Values

Our values are centered around the people that we serve. With open minds and a desire to help improve the lives of our clients and staff, our guiding values are considered in every decision we make as a real estate brokerage. These values include:

Dedicated to professionalism: At Royal LePage Prime, quality service is the base layer of all we do. This dedication to high-quality services is what attracts - and helps us keep -  high-quality professionals to serve our clients well.

Guided by our character: We understand that without innovative thinking and action, we cannot achieve the top-notch results we desire for our clients or staff. That’s why we are constantly investing in innovative technology, tools, and training for our growing staff team.

Giving back to the community: We’re passionate about what we do and passionate about helping the communities we serve are thriving. Royal LePage began The Royal LePage Shelter Foundation in 1998, a charitable organization committed to funding violence prevention programs and women’s shelters in communities around the country.

Knowledgeable Experts Serving the Winnipeg Real Estate Community

Education is a vital aspect of any significant real estate decision. Our innovative approach to real estate is what drives us forward, helping our agents continuously outsell our nearest competitors. With the right tools and training including guest speakers, hours of available online training, and our weekly Ignite meetings, our agents are able to level-up their skillset and provide best-in-class service to Royal LePage clients and investors.

As we move forward as one of Winnipeg’s largest real estate brokerages, we want to continue this trend of uniting our staff and clients with the expertise they need to make well-informed decisions. Our professional culture nurtures a supportive environment, knowledgeable guidance, and satisfied clientele.

Royal LePage Prime is the most trusted name in the Canadian real estate market for a reason. The Royal LePage motto says it all: “Helping you is what we do.”

Re-Introducing Royal LePage Prime

The Royal LePage Prime team recognizes that forward-thinking is what allows us to maintain incredible relationships with our staff and clients alike. The real estate market is continually moving forward, and successful real estate brokerages are committed to transforming with it. From growing our REALTOR® team to investing in innovative education, we are constantly improving our processes, researching the current market, and streamlining our services for the best results.

In addition to our continued commitment to real estate success, we’re proud to announce that we’ve acquired a new location for the Royal LePage Prime main business space. Located at 1305 Kenaston Blvd, this new space boasts industry leading technology and tools to help us serve our staff and clients better. Keep an eye out for more information surrounding this exciting change for the Royal LePage Prime team!

Whether you’re buying, selling, or looking to begin a new real estate career, Royal LePage Prime is ready to help you every step of the way. For more information on our best-in-class real estate services, contact us today.