There is great news on the horizon for all homeowners in Winnipeg. The real estate market here is alive and well and only getting better as more newcomers discover the many perks of living in the Heart of Canada! Even when conditions experience a temporary lull or a hiccup, it is often short-lived and nowhere near as severe as some of the bigger, more expensive cities. 

What does this mean should you decide to list your home for sale? While you can’t take anything for granted, you have an excellent chance of a successful transaction that you are thrilled with. What can you do to ensure you have every possible advantage so that your home will soon proudly display a “Sold” sign? Read on to find out!

Everything Begins With Knowledge

The secret sauce for a fast and smooth transaction at the highest possible dollar amount is simply to know what is happening in real estate right now. This may be no easy feat if this is your first time selling a house or if you haven’t dipped your toe into the market for a long time. 

However, thanks to the abundance of online information, doing your background research is easier than ever. The trick is to know how to interpret the data and use it to your advantage, which is something a local real estate agent can help you with. Here are a few general terms to familiarize yourself with before listing your home so that you can form realistic expectations and avoid unnecessary disappointment.

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What happens after your house sells? If your plans include buying a new home, the related reads below might help:

• Should You Work With An Agent When Buying In Winnipeg?
• Benefits Of Buying An Older Home In Winnipeg
• What Makes A Home Offer Appeal To Sellers?

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The number of listings versus homes sold

If there are more listings than sales, this could indicate a balanced or buyer’s market, which means you’ll have to pull out all the stops to make your house stand out. If sales are through the roof with very few listings, then you have every reason to celebrate. However, you should still do everything possible to make your home appeal to buyers to get the best results.

Average selling price 

Obviously, a detached four-bedroom home will sell for more than an entry-level condo. Still, it helps to know what average selling prices are so you can make sure your house is competitive for the current market.

The sale-to-list price ratio

Are houses selling at, above, or below their listing prices? Once again, this statistic helps you take the temperature of the market so you know what you’re up against when preparing and pricing your home.

Average days on the market

How long does it take to sell a house in the current landscape? If every listing is getting scooped up within a few days, you know the market is scorching hot. If homes are sitting on the market for weeks or even months, then you know a little patience is in order.

How Much Is Your Home Worth?

The answer can vary day by day depending on fluctuations in the market. This can make it challenging to determine the ideal price that allows you to capitalize on the full value of your home without scaring buyers away. 

Sadly, you can’t set your price based on how much you love your home or how you feel about it. You can’t even focus on how much you paid for your house all those years ago. Its value in the current market all comes down to cold hard numbers and what potential buyers are willing to pay right now. 

The good news is that getting your price right will actually help you sell your home for the highest amount possible. Your real estate agent can help by providing an accurate evaluation based on size, location, condition, and how much similar homes are selling for in your neighbourhood.

Preparing Your Home

If you’re less than thrilled with how much you can expect to earn from your home as is, there is some good news! There are likely dozens of minor updates and improvements you can make that will add significantly to the value of your sale. Why? Buying a home is an emotional decision as much as a practical one. The better your home looks, the more it will appeal to potential buyers who stop by for a visit.

Quick Tips to Add Value to Your Home:

• Start by cleaning up the outside and adding curb appeal. Mow the lawn, tidy up the yard, pull out a few weeds, and maybe even add some plants and flowers for a splash of colour. In the winter, make sure everything is cleared away so potential buyers can visit safely. A few outdoor lights and seasonal decor can add the finishing touches.
• Clean and declutter your home from top to bottom. Clutter-free rooms look more spacious and inviting and allow potential buyers to imagine themselves living in your home.
• Add a coat of fresh paint. Light and neutral colours give every room a fresh new look!
• Spruce up the kitchen and the bathroom. Potential buyers place a high priority on these rooms, so you’ll want to focus on making them look their best. 
• Get smart. Smart doorbells and thermostats add a touch of modernity to your home, which is especially appealing to young buyers searching for a new family home.

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What makes Winnipeg such a great city to live in? Get to know Winnipeg better in the posts below:

• Our Top 6 Luxury Neighbourhoods In Winnipeg
• 5 Reasons To Move To Winnipeg Right Now
• Everything You Need To Know About Living In Transcona

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Where to Find the Buyers

You’ve done your research, spruced up your home, and figured out an optimal listing price. A lot of the hard work is over, but it’s not quite time to sit back and relax yet. What comes next? It’s time to bring your listing to the attention of potential buyers. The more exposure you get, the more likely you are to generate interest from multiple parties. Early interest often leads to a faster sale at more money. Now, it’s time for your real estate expert to really get to work. Here are just a few tools a good agent will have at their disposal to bring your listing to the masses:

• Targeted social media campaigns
• Online advertising above and beyond your MLS® listing
• Advertising on Realtor.com and the MLS®
• Networking through other brokerages to find a buyer
• Feature sheets and print advertising
• Email blasts to qualified buyers
• Promotion on multiple brokerage websites

When all of the pieces come together, you may be celebrating the successful sale of your house before you know it. Let your next adventure begin!

Are you thinking of listing your Winnipeg home? We are happy to guide you all the way through a seamless transaction. Reach out to us at info@goodfellowrealty.com or call 204-224-2551 with any questions or to get started.