Oakbank and Springfield Municipality

I am proud to call Oakbank home and I get no greater sense of satisfaction from my work when I can help families buy or sell in my community. This municipality is booming and now is a great time to get into one of the best bedroom communities the Winnipeg area has to offer. Oakbank is what I consider to be the Goldilocks town. It’s not too close to the city but not too far, it’s not too big or too small and it doesn’t have too much and it doesn’t have too little. It’s perfect. The properties here range in age and style providing something for everyone. The yards are typically larger than what you’ll find in Winnipeg, the neighbours are friendly and the commute is worth all of the extra ten minutes.

I could go on for forever about why Oakbank is the best place to live, but it’s best if we just connect in person. If you’re looking for the Oakbank expert, you’ve found him.

SPRINGFIELD/OAKBANK: Q3 Market Info

Average Springfield Home:
3 Bedrooms, 2 Bathrooms, 1,500 SF

Average Price of Home in Springfield:
$462,635 (Q3 of 2021)

Average Oakbank Home:
3 Bedrooms, 2 Bathrooms, 1,475 SF

Average Price of Home in Oakbank:
$468,047(Q3 of 2021)

Noteworthy:
Did you know that Springfield is the largest RM in Manitoba? It’s true. The municipality has a total population 15,342 (as per the 2016 census) with 4,604 people residing in Oakbank.
When it comes to real estate 53% of homes listed for sale in Q3 of 2021 in Springfield sold over list price. A total 45 homes were sold in the municipality in July, August and September of 2021. The most expensive home to sell in Springfield in Q3 went for $730,000.

Of the 45 that sold in Springfield, 17 of them were located in Oakbank. Of those 17, 13 (or 76%) of them sold over list price.

St Vital & Island Lakes

St Vital and Island Lakes are often confused to be just St Vital, in fact they are two very different communities in the south end of Winnipeg. Although they are neighbours, separated by the Sceine River, they are home to very different type of homes and therefore even if you don’t care what they’re called, they need to be considered differently from a real estate perspective.

St Vital is one of my favorite areas to work in. Honestly, I’m not sure why, but I do like how developed the areas are, all of the mature trees and parks. No matter what time of year it is St Vital always looks great and this is why it is one of the most popular areas in the city. Competition will be high here when buying and selling is normally quick and easy.

Island lakes similarly developed to St Vital, but you’ll find more water here along with larger homes and most often, a higher price tag. These executive homes are set into fantastic neighbourhoods that have become well established over time. An abundance of amenities surrounds both communities making life comfortable in the south end of Winnipeg.

ST VITAL: Q3 Market Info

Average St Vital Home:
3 Bedrooms, 2 Bathroom, Bungalow, 1,350 SF

Average Price of Home in St Vital:
$428,817 (Q3 of 2021)

Noteworthy:
St Vital is one of the most sought after neighbouhoods in Winnipeg. Pair that with sales being down 15% in Q3 compared to last year and you’ve got yourself looking at competing offers on 3 out of 4 houses. St Vital is the most competitive area in the city for buyers and one of the easiest for sellers.

ISLAND LAKES: Q3 Market Info

Average Island Lakes Home:
4 Bedrooms, 2.5 Bathroom, Two Story, 1,715 SF

Average Price of Home in Island Lakes:
$556,955 (Q3 of 2021)

Noteworthy:
Due to the average price being higher than it’s neighboring community of St Vital the competition in Island Lakes is a bit less but still high with 64% of homes receiving multiple offers. Low interest rates have opened up the doors to this community for more buyers. Sales here are down 17% in Q3 compared to last year. For both neighbourhoods, this decline is due to a lack of homes to sell.

East St Paul

East St Paul is home to some amazing design and architecture in both the homes you will find here and the carefully thought out neighbourhoods in which they are built. Luxury homes with sprawling wide open floorplans on larger lots complement the grand character homes that have been meticulously cared for over the years and still remain as statement homes. East St Paul is located just north of Winnipeg via Main st and Henderson Highway and will make a fantastic home for families and couples.

EAST ST PAUL: Q3 Market Info

Average East St Paul Home:
3 Bedrooms, 2 Bathroom, Bungalow, 1,870 SF with attached parking

Average Price of Home in East St Paul:
$624,579 (Q3 of 2021)

Noteworthy:
If you’re buying in East St Paul, the average price range will lower the level of competition on most properties, but you should still expect to see multiple offers on most homes. sales are down 50% when compared to last year. The demand is high in East St Paul, with 545 of homes selling over list price.

Transcona

Transcona is one of my favourite communities in Winnipeg. It has everything you need to make life easy and comfortable. The homes are nicely packaged on the east end with great sized yards and awesome neighbours. The shopping and amenities are largely situated on the west side keeping traffic in the suburban areas down to a minimum.

A wide variety of homes are available for families of all types. From smaller starter homes in the legacy Transcona neighbourhoods to larger new builds in brand new developments like Canterbury Crossing and Summerlea.

TRANSCONA: Q3 Market Info

Average Transcona Home:
3 Bedrooms, 1.5 Bathroom, Bungalow, 1,050 SF with detached parking

Average Price of Home in Transcona:
$321,270 (Q3 of 2021)

Noteworthy:
62% of homes listed for sale in Q3 of 2021 in Transcona sold over list price. A total 181 homes were sold in the neighbourhood in July, August and September of 2021 while 208 were sold in the same time last year. The most expensive home to sell in Transcona in Q3 went for $688,000