March 28 Briefing ; Luxury Home Survey in Canada

Bo Knows Real Estate - Winnipeg's Real Estate Podcast

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Tuesday, March 28th, 2023…

Today is National Weed Appreciation Day and suitably, National Black Forest Cake Day…..dude!

Real Estate brokerage Royal LePage did a study recently to see how much home you could buy for a million dollars.

On average, Canada wide, a million will buy your nearly 1800 sq feet, with 3.2 bedroom and 2.6 baths.

As you can probably guess, that’s not happening in Vancouver, where a cool mil gets you less than 1,000 sq feet, and not even 2 bathrooms. If you want more house, You’ll have to live on Kraft Dinners.

Toronto is next, where you’ll get 1230 sq feet, nearly 3 bedrooms and still less than 2 bathrooms on average.

Best bang for your buck? You guess it: Winnipeg comes in as one of the most affordable cities. Last month, a 2300 sq ft home with 4 BR and 3 baths sold for 1.15 million

And a newer 2300 ft home in E St Paul sold for 975K….enough money left over to buy a nice chesterfield….or an ottoman.

Incidentally, right now there are 44 homes on Winnipeg’s market priced at 1 Million plus. The 4 most expensive ones are all located in Tuxedo.

The Luxury Home Marketing Institute defines a luxury home as one which is worth 1 million or more.

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