Property Overview: 27 Jewett Bay, River West Park, Winnipeg
Key Characteristics & Appeal
This 1976 home at 27 Jewett Bay presents a compelling, above-average package for its River West Park neighborhood. With 1,899 sqft of living space, it stands in the top 15% of homes on its own street and top 14% city-wide for size, offering more room than typical Winnipeg houses. The lot, at just over 7,000 sqft, is also larger than the city average, providing good outdoor space. Its assessed value of $510k aligns with being a premium property on its street but sits around the neighborhood average, suggesting it is well-established within the local market context.
The appeal lies in its proven desirability, having sold between $600k-$650k in late 2024—a price that places it in the top 10% of the area and top 5% city-wide. This indicates buyers are willing to pay a significant premium over the assessed value, likely for the home’s condition, updates, or specific features not captured in the basic metrics. It suits buyers looking for a move-in-ready home in a mature neighborhood who value space both inside and out, and who are comfortable investing in a property that has already demonstrated strong market validation from recent buyers.
Frequently Asked Questions
1. Why is the sold price so much higher than the assessed value?
This is common and reflects the difference between a municipal assessment for tax purposes and the current market value. The recent sale price indicates buyers placed a high value on this specific home’s condition, layout, updates, or lot, which is not fully reflected in the standardized assessment formula.
2. How does the home’s size compare to others nearby?
It is larger than most. With 1,899 sqft, it is significantly above the Winnipeg average (1,342 sqft) and the street average (1,553 sqft). In the broader River West Park area, it is about average, meaning it offers more space than many city homes while fitting comfortably within the neighborhood’s scale.
3. Is the lot size typical for the area?
The lot is slightly above average for the city but is actually a bit smaller than the typical lot in River West Park. This suggests the neighborhood generally features spacious lots, and while this one is generous by city standards, it offers a more standard backyard for the immediate area.
4. What does the “Top X%” ranking mean for value?
These rankings show how this property compares to similar homes in different geographic scopes. For example, ranking in the top 14% city-wide for living area confirms it is a spacious home overall. Being in the top 35% for assessed value in the neighborhood suggests it is priced within the mainstream of River West Park, not an outlier.
5. The home was built in 1976. What should I consider?
This is the median build year for the street and neighborhood, meaning you’re buying into a well-established community of similar-era homes. Key considerations would be the age and condition of major systems (roof, windows, plumbing, electrical) and any renovations completed since original construction, as these factors greatly influence modern comfort and maintenance costs.