53.2
Fair
Property score
53.2
Fair
Overall 53.2
Older than most nearby homes
848 sqft (bottom 31%)
Built in 1931 (17 yrs older than avg)
Located in a above-average income area
with median household income of ~85k
Transit 88.0
2-min walk to transit with 3 nearby routes
Within 500m: 5 parks nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Below average
18% smaller than neighborhood avg.
Year Built
Below average
17 yrs older than neighborhood avg.
Mother tongue
English · 76%Tagalog · 11%
Past 10 years Jefferson sales snapshot (~80% of all data)
1,026
320k
$314/sqft
1948
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53.2 is composed by the two sections below.
Property Score
Community Score
Jefferson
How to read: Share of sales in each ~$50k price band for “jefferson” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110905
$85K
Median household income
$105K
Average household income
10%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.9
P90 / P10 ratio
29%
Single-person households
29%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
505 Matheson Avenue — 5 amenities found within 500 m, across 1 categories, including 5 parks (nearest 283 m).
Jefferson · WPS public data · 2026
Annual incidents
40
2026
vs. city avg
+36%
relative to avg
Year-over-year
▼ -94%
vs. prior year
Primary type
Property
80%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 17% | Bottom 21% | Bottom 12% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This one-storey home at 505 Matheson Avenue in Winnipeg's Jefferson neighbourhood presents a specific and practical value proposition. Its key appeal lies in the balance between a modest, renovated living space and a significantly larger-than-average lot for the area. Built in 1931, the 848 sqft house sits on a 6,011 sqft parcel of land, which ranks in the top 22% for lot size on its own street. The home features a renovated basement and a detached garage.
The property suits first-time buyers, downsizers, or investors seeking an entry point into the market with a focus on land potential rather than extensive finished living space. Its assessed value is around average for Jefferson, suggesting a stable, no-frills investment. The appeal here is less about the home's size—which is below city averages—and more about the opportunity the lot provides for expansion, gardening, or outdoor living in a well-established community. It’s a property where the land is the standout asset, offering future flexibility.
Frequently Asked Questions
1. Is the house move-in ready?
The listing notes a renovated basement, suggesting some updates. However, as a 1931 build, prospective buyers should budget for potential updates to main-floor systems and should seek a thorough inspection.
2. Why is the assessed value relatively low compared to the city average?
The assessed value reflects the home's smaller size and older age relative to the broader Winnipeg market. It is, however, aligned with averages for the immediate Jefferson area, indicating it is priced appropriately for its local context.
3. What are the real advantages of the larger lot?
Beyond simple outdoor space, a lot size that's above average for the street and neighbourhood provides rare potential for additions, a larger garage, or landscaping projects that wouldn't be possible on standard lots nearby. It's a long-term advantage.
4. How does the sold price history help determine value?
The listed sale in late 2017 (in the $18.5k-$21.5k range) shows a significant price point from several years ago. This historical data is most useful for understanding market trajectory rather than setting a current price, which is better reflected by the more recent assessed value and comparable listings.
5. Who might this property not suit?
Buyers looking for a large, modern living area without renovation projects may find this home too compact. Its appeal is targeted towards those who see value in the land and are comfortable with a cozy, older character home.
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