Property Overview & Key Characteristics
This two-storey home in Bridgwater Trails is a modern, well-sized property built in 2017. Its primary appeal lies in its generous proportions and strong market performance. With nearly 2,500 sqft of living space, it ranks in the top 5% of its street and top 10% of its neighbourhood for size. The home sits on a large lot (4,888 sqft) and features a renovated basement and an attached garage.
The data suggests a property that has appreciated significantly, having sold for $479,500 in June 2024—a figure that ranks in the top 1-2% of recent sales for its immediate area and citywide. This points to a home that has been updated or possesses qualities highly valued in the current market. Its assessed value of $708,000 further indicates official recognition of its worth.
This home would suit buyers looking for a move-in ready, spacious family home in a newer community, particularly those who value both interior space and a larger lot. It’s also a compelling option for data-driven buyers who appreciate a clear history of strong value retention and growth, as evidenced by its standout sales and assessment rankings.
Frequently Asked Questions
1. How does the recent sale price compare to the assessed value?
The home sold for $479,500 in June 2024, which is notably lower than its current assessed value of $708,000. It’s important to discuss this with your real estate agent, as assessed values are for municipal tax purposes and can differ from market value, though the gap here is significant.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finishes, whether it includes a legal secondary suite or additional bedrooms, and if permits were obtained for the work.
3. The home ranks lower for "year built" on its street. Should I be concerned?
While it’s newer than 94% of homes in Winnipeg, on its specific street it’s newer than only 34% of properties. This isn’t a negative; it simply means Cherrywood Road has many very new homes. It indicates you’re buying into a modern, established part of the subdivision where the community is already formed.
4. How does the lot size impact the property?
At nearly 4,900 sqft, the lot is larger than 73% of those on the street. This is a key advantage, offering more outdoor space for play, gardening, or entertaining than many newer suburban lots, and can contribute to long-term value.
5. The sold price in 2017 was $489,000. What does this price history indicate?
Selling for $489,000 when new in 2017 and then $479,500 in 2024 might suggest stable value in a changing market. However, the substantial increase in its assessed value alongside this sale price creates an interesting dynamic. A professional can help analyze what factors (market conditions, specific renovations, sale terms) influenced the 2024 sale price.