Property Overview: 18 Cedar Place, Norwood West
Key Characteristics & Appeal
This home at 18 Cedar Place is a classic post-war bungalow, built in 1949, offering a blend of established neighbourhood character and solid value. With 1,164 sqft of living space, it sits comfortably within the average range for its immediate street and the wider Norwood West area, suggesting a practical, manageable layout. The standout figure is its assessed value of $459k, which ranks consistently above average—in the top 25-30%—when compared to similar homes on its street, in the neighbourhood, and across Winnipeg. This indicates a property that is perceived to offer good value or desirable features not fully captured by square footage alone.
The appeal lies in its position within a mature, sought-after community. While the lot size is smaller than most on its specific street, it is relatively standard for the broader city. This creates an interesting dynamic: you're acquiring a home in a prime location where the value is driven more by the neighbourhood and the structure itself than by land size. The recent sale history shows stable, strong value retention.
This property would suit a buyer looking for a character home in a well-regarded area without the upkeep of a massive lot. It’s ideal for a small family, a couple, or a downsizer who values location and community over sheer square footage and who appreciates a home with a history and established roots.
Frequently Asked Questions
1. How does the smaller lot size impact the property's value and appeal?
While the lot is the smallest on Cedar Place, the home's assessed value remains significantly above average. This suggests that factors like the home's condition, updates, layout, and its placement in Norwood West are the primary drivers of value, appealing to those who prefer less yard maintenance.
2. The home was built in 1949. What should I consider regarding its age?
As a home from the late 1940s, potential buyers should prioritize a thorough inspection focusing on the foundational integrity, the state of original plumbing and electrical systems, and the quality of any past renovations. Its age is typical for the charming Norwood West area.
3. The assessed value is high relative to living area. What might explain this?
A higher assessed value per square foot can indicate desirable features not reflected in size metrics, such as high-quality finishes, a premium layout, significant updates (like a modern kitchen or roof), or an exceptional location within the neighbourhood.
4. What do the recent sale price ranges indicate about the market?
The recorded sale price ranges from late 2020 and early 2024 both fall within the $450k-$500k band, showing remarkable price stability through varying market conditions and aligning closely with the current assessed value.
5. How can I get the exact historical sold prices for this home?
The precise sale figures are not publicly displayed due to industry regulations. You can request the exact sold price history by emailing the site directly. They will provide a manual lookup and send the information to you, typically by the end of the same business day.