Record Breaking Home Sale

Greg Petzold AAM is an assessor for the City of Winnipeg.

2012 was a record year for Winnipeg realtors with $3.2 billion in sales. There were over 13,000 sales with single family/residential detached making up 73% and condos 12%.

The close of the year brought a new record–a home in Winnipeg’s Tuxedo residential neighborhood sold in December for a new record high price of $2.2 million on MLS. Provincial Conservative leader Brian Pallister’s recently reported purchase of a Wellington Crescent mansion for $2 million will have to settle for second place in 2012.

Recent years have seen significant numbers of million-dollar plus sales. For 2012 the Winnipeg REALTORS reported over 400 sales above $500,000. Of these 24 sold for more than $1 million. However, Winnipeg is hard-pressed to match the extreme high end of the market in other major centers like Toronto or Vancouver. The previous Winnipeg record sale was $2,025,000 and had stood since 2006.

There have been some high listings including one in 2011 for $5.9 million. However, a listing is not the same as selling. Even our new record holder was listed for $2.9 million.
So what do you get for $2.2 million? A 5,809 square foot infill home built in 2005 in Old Tuxedo, located on a 200 foot frontage lot with four bedrooms, seven baths, finished basement and an in-ground pool. Recent sales in the area have hit $400,000 for even a basic 75 foot lot.

$2.2 million worth of single family home

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