Altamont, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Altamont, Manitoba is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This upward trend suggests a healthy demand for single-family homes in the area. Similarly, the median apartment price is set at $300,000, with a more modest growth rate of 2.1% year-over-year. The consistent growth across both housing types indicates a stable and expanding market.
The population of Altamont sits at 15,000 residents, which has grown by an impressive 7.1%. This population growth likely contributes to the demand for housing and can be associated with the positive price trends observed in the local real estate market.
Investment Opportunities and Potential
The current growth rates in property values suggest that Altamont holds promising investment opportunities. The robust increase in population underlines the potential for continued demand for residential properties. Investors looking to purchase property in this market may find that single-family homes offer a higher growth potential due to their greater price appreciation rate.
Apartments present an alternative investment opportunity, particularly for those interested in entering the market at a lower price point or looking for rental income properties. Considering the steady population increase, rental demand is likely to remain strong, providing investors with the potential for stable rental yields alongside moderate capital appreciation.
Future Market Outlook
The future outlook of Altamont’s real estate market appears optimistic based on current trends and demographic shifts. Should the area maintain its attractive qualities that contribute to population growth such as employment opportunities, quality of life, and community development, it stands to reason that the housing demand will continue to rise.
If economic conditions remain favorable and interest rates are stable or only increase moderately, we can expect both housing segments—houses and apartments—to maintain their positive trajectory. Investors should monitor economic indicators and local development plans closely to make informed decisions about entering or exiting this market.
