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 (2024) | 15,000 |
| Previous Population (2019) | 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
Altamont, Manitoba currently exhibits a stable real estate market with a healthy growth in property values. The median house price stands at $500,000, with a steady year-over-year appreciation of 3.5%. This indicates a growing demand for single-family homes in the area. The apartment market is also showing positive movement, with a median price point of $300,000 and a growth trend of 2.1% year-over-year. These metrics suggest that the market is experiencing balanced growth, likely influenced by both local economic factors and population influx.
Investment Opportunities and Potential
For investors looking to enter the Altamont real estate market, there are promising opportunities across various sectors. The consistent increase in housing prices reflects the potential for capital gains over the long term. Given that the population has grown by 7.1%, rental properties may also be a lucrative investment as demand for housing is likely to continue rising. Both single-family homes and apartments present attractive scenarios for rental income as well as appreciation in property value.
Future Market Outlook
The future outlook for Altamont’s real estate market appears optimistic. With an expanding population currently at 15,000, the community is likely to see sustained demand for housing which could further drive up property values. Assuming the local economy continues its current trajectory and the population growth remains robust, the real estate market should maintain its upward momentum. However, investors should keep an eye on national economic indicators and regional policy changes that could affect interest rates and affordability levels.
